Technical Analysis – EURNZD finds wall at 10-year top; looks overbought

Posted on March 19, 2020 at 10:39 am GMT

EURNZD found some footing around the ten-year high of 1.9922 before edging lower near the 23.6% Fibonacci retracement level of the upward move from 1.6615 to 1.9922 at 1.9145. The red Tenkan-sen line, remains well above the blue Kijun-sen and the RSI is currently flirting with overbought levels, while the stochastic is turning lower into the positive area after the bearish cross within the %K and %D lines, which exited the overbought region. A pull back may meet immediate support around the 1.8990 barrier, while [..]


Technical Analysis – EURNZD hits levels not seen in 9-years before dropping back down

Posted on March 10, 2020 at 3:47 pm GMT

EURNZD’s fierce move yesterday stretched towards nearly a 9-year high of 1.8980 before sellers pulled the pair south to around 1.8016, which is a high from back in September of 2015 (previous resistance-now-support). The positive picture still looks intact with the upward sloping simple moving averages (SMAs) and a nearing bullish cross of the 100 and 200-day simple moving averages (SMAs) by the 50-day one. Additionally, the MACD is deep in the positive region and above its red trigger line, [..]


Technical Analysis – EURNZD increases within Ichimoku cloud; broader picture is negative

Posted on February 18, 2020 at 1:19 pm GMT

EURNZD has gained little today but it managed to hold within the Ichimoku cloud and the 20- and 40-day simple moving averages (SMAs), with the technical indicators feeding prospects for a possible upside move. The RSI indicator is sloping upwards and is approaching the bullish zone, while the stochastic continues to strengthen after the bullish cross within the %K and %D lines. If the 20-day SMA at 1.6915 proves easy to get through, the spotlight will turn to the 38.2% [..]


Technical Analysis – EURNZD seems to have found a ceiling; bearish bias in near term

Posted on February 5, 2020 at 1:47 pm GMT

EURNZD has come under renewed selling pressure and has fallen back below the 1.7000 handle, though it remains inside the Ichimoku cloud. The technical indicators are falling simultaneously with the price, as the RSI found a wall at the 70 level and declined sharply lower, while the stochastic created a bearish cross with its %K and %D lines in the oversold zone. However, the 20 and 40-day simple moving averages (SMAs) completed a bullish cross, confirming the upside move towards [..]


Technical Analysis – EURNZD in a slippery slope; bears look at 5-month low

Posted on January 24, 2020 at 11:29 am GMT

EURNZD is holding to losses, slipping beneath the short-term moving averages in the daily timeframe. The strong sell-off day on Thursday is driving the pair towards the five-month low of 1.6615. The MACD is heading lower and is approaching the red trigger line for a bearish cross, strengthening its bearish momentum, while the RSI dropped below the 50 level with aggressive movement. Should the price decisively close below 1.6615, this could extend the downtrend towards the 1.6520 barrier acting as [..]


Technical Analysis – EURNZD corrects higher; tests the bigger negative picture

Posted on January 7, 2020 at 4:21 pm GMT

EURNZD’s gradual advancement in the short-term – aided by the momentum indicators and the upward slope and bullish crossover of the 20-period simple moving average (SMA) – looks to be eyeing the restrictive downtrend line and the 200-period SMA. Despite the slight weakening in positive momentum, the short-term oscillators still lean towards the positive picture. The MACD is still above its red trigger line in the positive zone, while the RSI, despite dropping, remains in the bullish region and above [..]


Technical Analysis – EURNZD loses further ground as bearish bias endures  

Posted on December 2, 2019 at 2:51 pm GMT

EURNZD is currently encountering some upside pressure at the 1.7000 barrier, following the one-and-a-half month decline from the peak of 1.7698. Nevertheless, bearish signals indicate that the downfall may have some ways to go. The short-term oscillators suggest that negative momentum is strengthening. The MACD, in the negative zone is declining below its red trigger line, while the RSI has slipped into the oversold territory. Moreover, the ADX reflects a strong negative trend in place, as do the downward sloping [..]


Technical Analysis – EURNZD hold above support region after false break; is capped by 50-SMA

Posted on November 6, 2019 at 3:05 pm GMT

EURNZD is being restricted by the 50-period simple moving average (SMA), after a false break below the structure support on November 4 reversed the price back inside it. The short-term oscillators suggest that the directional momentum has dried up. The MACD, in the negative zone, has moved above its red trigger line and near to zero, while the RSI is hovering around its neutral mark. The mostly horizontal SMAs are limiting advances while the support section holds, keeping the price in a neutral mode. Moreover, [..]


Technical Analysis – EURNZD short-term bullish picture reinforced, bulls plot a 1-year high

Posted on October 16, 2019 at 1:30 pm GMT

EURNZD buyers are logging a new high, as they push past the peaks of 1.7590 and 1.7614 from August 26 and September 20 respectively. The rally off the 1.7358 level is also backed by the turn up and bullish crossover by the 40-period SMA with the 100-period one, which came after nearly a one-month convergence period. The short-term oscillators agree with the improving picture, as the MACD rises above its red trigger line in the bullish area and the RSI [..]

Technical Analysis – EURNZD possibly forming triple top near 10-month high

Posted on September 20, 2019 at 9:40 am GMT

EURNZD is again attempting to overcome the 1.7590 resistance region tested multiple times over August. The bulls recent rally from 1.7000 is backed by the Tenkan-sen that has already distanced itself from the Kijun-sen, as well as the momentum oscillators reflecting a persisting positive picture. Furthermore, the 21-period simple moving average (SMA) has completed a bullish cross of the 100- and 200-period SMAs. That said, the 100-period SMA has approached the 200-period SMA, and looks to complete a bearish cross, thus traders need to be aware of a possible [..]

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