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EUR-NZD

EURNZD - Price action bottoming out in the short term? EURNZD is Bullish - We look to Buy at 1.7865 ▪️ Continued downward momentum from 1.8263 resulted in the pair posting net daily losses yesterday. ▪️ Negative overnight flows lead to an expectation of a weaker open this morning. ▪️ We have a 61.8% Fibonacci pullback level of 1.7854 from 1.7601 to 1.8263. ▪️ Further upside is expected although we prefer to set longs at our bespoke support levels at 1.7865, resulting in improved risk/reward. ▪️ Expect trading to remain mixed and volatile. Stop: 1.7795 Target1: 1.8140 Target2: 1.8255
Long
by Signal_Centre
EURNZD: Sell opportunity on a long term pattern.EURNZD has been trading inside a Channel Up on the 1W chart since late 2012 (RSI = 54.285, MACD = 0.025, ADX = 24.737). In late March 2020 the pattern made its Higher High and has been declining since. The MACD is making a bearish cross-over so we will be taking this opportunity to go short. Our Target Zone is as seen on the chart. Recent signal: ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
Short
by InvestingScope