EUR/NZD Bullish Daily 1-2-3 at 50.0% Fib

EUR/NZD Technical Analysis

  • Daily trend is up
  • ATR is 121 pips
  • 1.7103 is daily target
  • Potential for 1.7200 zone

    MEGATREND MAs: Bullish

    D1 Chart EURNZD

    1. Point 1 low of 1-2-3
    2. Point 2 high of 1-2-3
    3. Daily 50% fib entry

    EUR/NZD is currently trading at 1.7010, and we can see a potential bullish entry at 50.0% Fibonacci retracement level of the move from 1.6830 to 1.7180, which comes in at 1.7050. This level has acted as a support in the past, and the price may bounce off it again.

    Therefore, we can consider a long position with a stop loss below the 61.8% Fibonacci level at 1.7000.

    For targets, we can look at the ATR top at 1.7103, which is the highest point reached by the currency pair based on its average true range. Additionally, the swing zone is located around 1.7200, which is another potential target for this trade.

    In terms of indicators, the MEGATREND MA’s are bullish, indicating that the price is likely to continue its upward trend. Therefore, we can expect EUR strength compared to NZD dollar.

    Overall, a long position can be considered in EUR/NZD at the 50.0% Fibonacci retracement level of 1.7050, with targets at the ATR top of 1.7103 and the swing zone at 1.7200. Additionally, the MEGATREND MA’s are bullish, suggesting that we can expect further EUR strength against NZD.

    This analysis, all the patterns and all entry signals and targets are a part of the Megatrend system Join my Telegram group to receive trading signals.

    Cheers and safe trading,


    Summary of January trading results is HERE


    Cheers and safe trading,


    Leave a Reply

    Your email address will not be published. Required fields are marked *

    5 keys how to instantly
    improve your trading

    Enter your email below and download the guide!

    To get a discount on all my services open the account by clicking on XM banner below

    71-75, Shelton Street, Covent Garden, London, WC2H 9JQ

    Past perfomance is not indicative of future results. We don't offer refunds!