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EURNZD - Second Attempt, More Oomph this time

FX:EURNZD   欧元/纽元
261 9 9
Greetings Fellow Traders,

Early this week we had a EURNZD             trade on the 4 hour chart - however it was quickly nullified, no conviction. This led to a pretty harsh sell off for a couple of days before rebounding and staying above a certain daily strength that was identified.

To finish off the week, EURNZD             not only closed above on the 4 hour chart - but managed to secure the daily AND weekly close for this newly defined move.

I fully expect EURNZD             to make an almost immediate move to 1.7000 during the first 2 days of trading next week, a retest of 1.7250 area by week's end. For additional upside - I have my eye on NZDUSD             looking for that close below .64000. Should that confirm I will be targeting a move much higher between 1.75-1.80, one step at a time though.

Here is the daily chart for reference:
snapshot

Feel free to comment/like/follow.

I would rather have said that this pair is riddled with fake breakouts. The last one actually not being one of them in my opinion...
snapshot
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Synapse GeneraldisastersInc
I must have missed this comment, apologies! The only false breakout to me in that chart for the bullish continuation was the one at 1.6840 that I posted the 4 hour analysis for. It wasn't supported. When this happens price redefines the strength of a move, and we had a pretty standard breakout this time around.
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Well, it did break out a little later, so you got it very nicely. Also its bounced off the new resistance so time to head on in!
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GeneraldisastersInc GeneraldisastersInc
New daily channel created?
snapshot
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Synapse IvanLabrie
Nice chart - Not sure we'll get a strong pull back, end of week 4 hour already showed a good level. If we get back to 1.6800 we should find a good strong set of buyers to start the week.
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You can place some limit buys and see if they get filled, as well as a buy stop above the high.
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Synapse IvanLabrie
I'm personally a fan of limit orders more than stop orders, but sometimes you just don't have the option. I'm already long on EURNZD.
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Yep, missing out on a move this big is worse than buying strength. Buying strength in an emerging uptrend is quite often the only way to join early on.
Cheers!
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