EURNZD is moving towards channel support

  • Aug 04 2021
  • by
  • Analyst AZA
EURNZD is moving towards channel support

EURNZD is moving towards channel support

The EURNZD currency pair has been moving in the big channel for a long time and now it is dropping to the channel support. This is not a super trending move, but the price still has 45 pips of travel to the flat 1.6700 level where the price is likely to receive support. Considering that the downward movement began the day before yesterday, one cannot count on a large profit in this trade. The price is below the 200 average and the MACD indicator also indicates a downward movement. If you look at other currency pairs in the forex market today, you will see that there are no pronounced trades right now and this trading instrument is most suitable for opening an order.

Symbol: EURNZD
Order Type: Pending Order - Sell Stop
Entry Price at 1.6745
Take Profit at 1.6700
Pips Earning: 45


Forex trade strategy and trading signals for major currency pairs:
EURUSD sell at the price of 1.1840
USDJPY buy at the price of 108.25
GBPUSD buy at the price of 1.3950
sell at the price of 0.9040

The profit can be $324.99 if the trading volume of 100000 EUR (1 Lot).


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