Dmitriy Chernovolov, Technical Analyst who has been actively following the FX markets for the last 11 years. He uses a systematic trend following approach combined with a proven money management system. Dima prefers to combine multiple technical analysis tools (e.g. Fibonacci retracements, trendlines, indicator divergences, Japanese candlesticks, Elliott Waves as well as horizontal support and resistance levels on different time-frame charts) to identify high probability synergetic trade setups with a high reward/risk ratio.

EUR/NZD reached sell target 1.6400

  • EUR/NZD reached sell target 1.6400
  • Next sell target - 1.6120

EUR/NZD continues to fall after the earlier breakout of the support level 1.6400, which was set as the sell target in our previous forecast for this currency pair. The breakout of the support level 1.6400 is likely to accelerate the active minor impulse wave 3, which belongs to the intermediate impulse wave (3) from the start of May – which started when the pair reversed down from the strong resistance zone surrounding the resistance level 1.6840.

EUR/NZD is likely to fall further in the active impulse waves 3 and (3) toward the next sell target at the support level 1.6120 (which stopped previous impulse waves (1) and B).

Scroll to top