TradeCityPro | EURNZD Ideal Short Setup for Next Week
👋 Welcome to the TradeCityPro channel!
Let’s analyze EURNZD as the forex market wraps up this week and prepare our triggers for next week’s positions!
🌍 Fundamental Overview
Euro (EUR):
Benefiting from the ECB's cautious tightening policies aimed at inflation control.
Mixed economic data, such as weak industrial output, limits bullish momentum.
New Zealand Dollar (NZD):
Supported by stronger commodity prices and a resilient domestic economy.
The RBNZ maintains a balanced policy outlook, strengthening the NZD further.
The contrast between the ECB's inflation focus and the NZD's solid fundamentals tilts the bias toward NZD. Global risk sentiment and commodity trends are pivotal in determining price direction.
🕒 4-Hour Timeframe Analysis
EURNZD is consolidating within a range between 1.7836 (support) and 1.8063 (resistance).
Last week saw minimal movement, but this consolidation suggests the pair is gearing up for a breakout.
The price didn’t reach the resistance this time and got rejected earlier.
It is now testing the support level.
📉 Short Position Trigger
If 1.7836 is broken with strong momentum, it would trigger a short position, targeting lower levels.
📈 Long Position Trigger
If the 1.7836 support holds for an extended time, buyers could step in.
A break above 1.8063 would confirm a long opportunity, especially if the price forms higher highs and higher lows in lower timeframes.
📝 Final Thoughts
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
Let’s analyze EURNZD as the forex market wraps up this week and prepare our triggers for next week’s positions!
🌍 Fundamental Overview
Euro (EUR):
Benefiting from the ECB's cautious tightening policies aimed at inflation control.
Mixed economic data, such as weak industrial output, limits bullish momentum.
New Zealand Dollar (NZD):
Supported by stronger commodity prices and a resilient domestic economy.
The RBNZ maintains a balanced policy outlook, strengthening the NZD further.
The contrast between the ECB's inflation focus and the NZD's solid fundamentals tilts the bias toward NZD. Global risk sentiment and commodity trends are pivotal in determining price direction.
🕒 4-Hour Timeframe Analysis
EURNZD is consolidating within a range between 1.7836 (support) and 1.8063 (resistance).
Last week saw minimal movement, but this consolidation suggests the pair is gearing up for a breakout.
The price didn’t reach the resistance this time and got rejected earlier.
It is now testing the support level.
📉 Short Position Trigger
If 1.7836 is broken with strong momentum, it would trigger a short position, targeting lower levels.
📈 Long Position Trigger
If the 1.7836 support holds for an extended time, buyers could step in.
A break above 1.8063 would confirm a long opportunity, especially if the price forms higher highs and higher lows in lower timeframes.
📝 Final Thoughts
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
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💰 Join the Telegram Channel Now: t.me/Tradecityproint
🏆 Best Crypto Exchange: bit.ly/tcpbit
🤵 Business Contact: Tradecityproteam@gmail.com
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