EURNZD continue to be oversold??!
EURNZD - Daily Timeframe
Friday's daily candle closed above 1.65891 with some bullish momentum.
Touching the BB and wicked out of the BB suggests EURNZD is oversold, but can it go a little further?
Two touches of the trendline dating back to October 2018 and June 2019....could we be heading for a third in this downtrend?
Fib levels suggest a rally to the top of the channel, this could potentially be a nice set up for a buy.
EURNZD could continue to decline further and test levels around the [red TL] before a turn to the upside. Will that level hold or go lower to the region of 1.63334.
Waiting to see PA and Monday's daily candle closure before executing any positions.
Potential fundamentals around EUR this week: Main Refinancing Rate, Monetary Policy Statement, ECB Press Conference.
* This profile is for educational purposes ONLY!
* The trade idea given is my own perspective of the Forex market and by no means require action!
* Trading involves risk, past profits do not guarantee future results, so never risk what you are not willing to lose!
Friday's daily candle closed above 1.65891 with some bullish momentum.
Touching the BB and wicked out of the BB suggests EURNZD is oversold, but can it go a little further?
Two touches of the trendline dating back to October 2018 and June 2019....could we be heading for a third in this downtrend?
Fib levels suggest a rally to the top of the channel, this could potentially be a nice set up for a buy.
EURNZD could continue to decline further and test levels around the [red TL] before a turn to the upside. Will that level hold or go lower to the region of 1.63334.
Waiting to see PA and Monday's daily candle closure before executing any positions.
Potential fundamentals around EUR this week: Main Refinancing Rate, Monetary Policy Statement, ECB Press Conference.
* This profile is for educational purposes ONLY!
* The trade idea given is my own perspective of the Forex market and by no means require action!
* Trading involves risk, past profits do not guarantee future results, so never risk what you are not willing to lose!
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