Vladimir RibakovOwner, Chief Trader at Home Trader Club (Former Traders Academy Club), Owner, Chief Trader at Home Trader Club (Former Traders Academy Club) · Owner, Chief Trader at Home Trader Club (Former Traders Academy Club)

EURNZD Analysis & Trading Plan - 30 Oct 2024 #forex #trading #forexsignals #fyp #shorts

30 Oct 2024 · 1 min

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In this brief market commentary, Vladimir Ribakov outlines a bearish trading opportunity on the EUR/NZD pair. He describes a classic downtrend on the daily chart marked by three lower highs and lower lows, followed by a two‑wave pullback that exhibits a hidden bearish divergence evolving into a standard divergence on the MACD histogram. On the 4‑hour chart, he points out a clear moving‑average divergence between the last two peaks. Ribakov highlights two Fibonacci extension levels as critical zones; as long as price respects these levels, he recommends entering a short (sell) position on EUR/NZD.

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Here is why EUR/NZD could be a great sell opportunity. On a daily chart, classical bearish trending pattern: 3 lower highs, lower lows. At the end of the pullback, which happens to be in 2 waves, we can see that there was a bearish hidden divergence that now continues to develop to a basic divergence on the histogram of the MACD. On a 4-hour chart, it gives clean moving average divergence between the last 2 peaks. As long as these 2 Fibonacci extension levels hold, I am after sell the euro New Zealand.