The EUR/NZD chart analysis is shown below for the H4 time frame. The EUR/NZD is currently consolidating inside of a price range. We are setting price alerts on either side of the support and resistance cluster to detect movement and to detect when this pair will form a new trend going in either direction. The alert points are shown by the yellow lines on the chart you see. This is called a straddle alert.
There is very good pip potential past both price alert points in either direction, and you can see the pip potential on the chart image below. If this pair falls it has as much as 500 pips of potential to the next support.
When a currency pair is inside of a cluster on any of the larger time frames, it is best to not trade that pair. You should set price alerts on either side of the cluster to detect a breakout in either direction, especially when the pip potential is large, like in the example above. This technique works on any pair. When the price alert hits you can always check The Forex Heatmap® forex heatmap to verify any trade entries. By trading 28 pairs you can avoid clusters and move to another pair or another currency until this pair breaks out in either direction.
These forex indicators for monitoring trends are a very simple and easy to set up charting system. Traders can use them to perform their market analysis. They are exponential moving averages set up on a 5 and 12 time period.