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Posts Tagged ‘EURNZD Analysis’

EURNZD – Waiting for a breakout of 1.7413

The EURNZD is trading right above the LT support level, I know the market is likely to get rejected again from that level, but I reckon if it manages to break this level down, it will give us nice opportunities to go short:

Right know it is trading just above 1.7413, if it breaks this level down, the next LT support level is at 1.6941

Trade Safe!

Raul Lopez
Forex Courses

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EURNZD – Another clear market condition

This one is another pair I like today. The EURNZD is in a very clear bullish market condition, it got rejected from an important LT support level, now it is likely to continue its way up until it finds the next LT resistance level around 1.9357:

I’ll be looking for long opportunities in the EURNZD.

Trade Safe!

Raul Lopez
Forex Training

EURAUD & EURNZD Trade Update

Yesterday I wrote about these two trades, on Tuesday I went short EURAUD and yesterday I got a EURNZD to go long… these two currency pairs are positively correlated and most of the time both of them move in the same direction, I thought it was awkward to get opposite signals in positively correlated currency pairs… Anyway, I got stopped out on my second trade (EURNZD) and my first trade is still running, can’t say I’m safe yet, because it still has a long way to go (my TP order is at 1.3350 and it is currently trading at 1.3524, around +75 pips on my favor). I would feel more comfortable if it confirms the breakout of the ST support level around 1.3532, if this happens I will be able to move my SL closer to my entry level (otherwise I will have to close my trade before the weekend)…

Now, was it a wrong decision?

I don’t think so. A signal is a signal and each currency analysis is independent from each other. We can’t take trading decisions on one currency pair based on the way other currency pair is trading. It was a signal and I had to take it…

It’s all probabilities… I know that if I follow my system enough times, probabilities will make their job… I have always thought that my job as a trader is to make myself available to the low risk trading opportunities that the market offers me, aka: FOLLOW the system… If I do this, good results will come as a result…

Trade Safe!

Raul Lopez
Forex Training

EURNZD & EURAUD – Opposite trades in positive correlated pairs

Sometimes these kind of setups happen, the EURNZD and EURAUD most of the time trade in the same direction, both of them are positively correlated. Today, this is not true. You don’t see often these pairs trading in opposite market conditions, and it is even less likely to get signals on both of them on the opposite direction, well… just got that…

Yesterday I got a signal to go short in the EURAUD, it is currently at +40 pips… and today, a few minutes ago a got my signal to go long in the EURNZD:

The EURNZD is still an order though… lets see if it gets triggered:

Entry order: 1.8222
SL: 1.8173
TP: 1.8616

Trade Safe!

Raul Lopez
Forex Training

EURNZD – Long opportunities in play

The EURNZD has been trading in a bullish market condition since the 3rd of March, I haven’t been able to take my position here, but right now it is trading at a level where we could get our signal to go long:

It is trading at a ST support level, if I get something significant with upward pressure I will definitely go long here.

The next LT resistance level is at: 1.9200

Trade Safe!

Raul Lopez
Forex Training