EURNZD Euro Strengthens Against NZD: What Traders Need to Know

The Euro has been on a roll lately, gaining strength against many major currencies, including the New Zealand Dollar. But what does this mean for traders? Is it time to buy or sell? In this blog post and supply and demand Forex analysis, we’ll explore the factors behind the rise of the Euro and give you all the information you need to make informed trading decisions. So buckle up, and let’s dive in!

If you’re a trader looking to make sense of the latest market movements, you must pay attention to what’s happening with the euro and the New Zealand dollar. Recently, we’ve seen significant shifts in their exchange rate, with the euro strengthening against NZD. But what does this mean for your Forex trading strategy?

EURNZD has created a strong daily demand imbalance at 1.71 but has not reached it. As supply and demand Forex traders, we expect the elimination of the daily supply level currently in control. You can use smaller timeframes to go long and buy the euro versus the New Zealand dollar.

EURNZD forex analysis 2023
EURNZD forex analysis 2023

EURNZD Forex analysis and forecast

As supply and demand traders, we do not need to pay attention to the news, fundamentals or earnings reports. Once a big timeframe imbalance has gained control, earnings do just the opposite and react strongly to those imbalances. Why do you see positive earnings, the underlying Forex cross-pair drops like a rock, or a negative earnings announcement and the cross-pair rallies like a rocket out of control? You are probably missing the fact that there are big imbalances in gaining control.

Unless you do very short-term trading and scalping, you should not worry about fundamentals or earnings announcements on EURNZD Forex cross-pair.

You can use these imbalances to plan your trades in lower timeframes. Trading is just waiting for the right trigger points and scenarios to present themselves, this game has got a name, and it’s called the waiting game. We must patiently wait for the correct scenarios and setups to happen and wait for the price to pull back or dip into the price levels we want to trade; in our case, these price levels are made of supply and demand imbalances.

Related Post


Any Advice or information on this website is General Advice Only - It does not take into account your personal circumstances, please do not trade or invest based solely on this information. By viewing any material or using the information within this site you agree that this is general education material and you will not hold any person or entity responsible for loss or damages resulting from the content or general advice provided here by Set and Forget, its employees, or fellow members. Futures, options, and spot currency and stocks trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the Forex and futures markets. Don't trade with money you can't afford to lose. This website is neither a solicitation nor an offer to Buy/Sell spot Forex, cfd's, stocks or other financial products. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in any material on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.

High Risk Warning: Forex, Futures, and Options trading has large potential rewards, but also large potential risks. The high degree of leverage can work against you as well as for you. You must be aware of the risks of investing in Forex, futures, and options and be willing to accept them in order to trade in these markets. Forex trading involves substantial risk of loss and is not suitable for all investors. Please do not trade with borrowed money or money you cannot afford to lose. Any opinions, news, research, analysis, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. We will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. Please remember that the past performance of any trading system or methodology is not necessarily indicative of future results.

Get Free Trade Ideas

Don’t miss out on the next big trade. Subscribe to our Newsletter.