To end my analysis this Friday, I’m going to update for the EURNZD cross pair.

Yesterday’s trade has quickly ended in a stop loss after holding for just 6 hours:

https://www.finlogix.com/analysis/20240328/eurnzd-intraday-analysis-and-trading-plan-for-march-28-2024

Both Europe and New Zealand have no major economic news to end the week.

Re-assessing the EURNZD’s high timeframe candles:

Yearly Candle: Still a Green Body since last check

Monthly Candle: Still a Green Body with a Longer Tail Wick since last check

Weekly Candle: Still a Green Long-Legged Spinning Top but with a Longer Head Wick

Daily Candle: Yesterday close is a Green Shaven Bottom current is developing a Red Body with a Longer Head Wick

Yearly to monthly candles continues long term bullishness.

However, there are changes that happened in weekly and daily candles through yesterday’s price action.

There’s an expanding higher highs based on yesterday’s swing high.

I’m seeing this as a strong buy side liquidity hence my last trade position’s stop loss got caught right away!

Intraday candle is a red shaven bottom at first glance but my conviction is this will further develop into a red body pushing price lower.

There’s a long head wick present already suggesting a strong rejection from the EURNZD’s attempt to print higher high to extend the expansion phase.

Even though I got easily stopped out yesterday, I will maintain to short the cross pair!

Same call but putting a higher take profit and stop loss plus 20 pips above this week’s swing high.

These are the following updated short entries to follow:

I’m risking again to short while it’s still hovering in its premium levels.

Betting from the failed expanding higher attempt yesterday.