Hello, I am Forex Trader Andrea Russo and today I want to talk to you about a promising strategy for the EURNZD currency cross.
The EURNZD is showing interesting signals for an upward movement. I decided to open a long position at 1.87460, with a stop loss (SL) at 1.861, which represents a potential loss of 0.50%. The profit target (TP) is set at 1.913, aiming for a consistent uptrend.
Technical Analysis
The EURNZD is going through a consolidation phase, offering a breakout opportunity to the upside. Technical indicators such as the MACD and the RSI indicate a growing bullish momentum. Furthermore, the price is positioning itself above the key moving averages, a sign of strength that supports my buy strategy.
Fundamental Analysis
On a fundamental level, the euro is benefiting from an improved economic environment in the Eurozone, along with a relatively stable monetary policy from the ECB. Conversely, the New Zealand dollar could be negatively affected by the recent volatility in the commodity markets, given the New Zealand economy's link to this sector.
Trading Strategy
Entry: 1.87460
Stop Loss: 1.861 (-0.50%)
Take Profit: 1.913
This setup offers a favorable risk/reward ratio and aligns with the current technical and fundamental environment. I recommend closely monitoring any changes in fundamentals or key technical levels that could impact the trade.
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If you want to receive:
✅ precise TAKE PROFIT
✅ precise STOP LOSS
✅ updates on My Trades
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Full Broker benefits & Socials
👉 andrearussoforextrader.com
If you want to receive:
✅ precise TAKE PROFIT
✅ precise STOP LOSS
✅ updates on My Trades
👉 Telegram Channel: t.me/swipeuptrading
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
🔵 Official Partner of PEPPERSTONE
Full Broker benefits & Socials
👉 andrearussoforextrader.com
If you want to receive:
✅ precise TAKE PROFIT
✅ precise STOP LOSS
✅ updates on My Trades
👉 Telegram Channel: t.me/swipeuptrading
Full Broker benefits & Socials
👉 andrearussoforextrader.com
If you want to receive:
✅ precise TAKE PROFIT
✅ precise STOP LOSS
✅ updates on My Trades
👉 Telegram Channel: t.me/swipeuptrading
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.