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Eurnzdsell

EURNZD Market Outlook | Daily Forex Market BreakdownEURNZD HAPPY HOLIDAYS! Not much movement at all today which is to be expected. I do believe we could be bottoming out soon. It is still too early to tell. Again this is why swing trading is so powerful, from our previous EN short we are now nearly +1000 pips on a single trade. Swing trading paired with intraday hedging can increase your profits substantially. If I see any changes in the current market conditions I will update you all as always! Again happy holidays remember to spend time with loved ones doing what you love to do!
by Layne_LV
EURNZD Market Outlook | Daily Forex Market BreakdownEURNZD EN looking like we may be climbing to the upside. Choppy movement with EN recently, that being said right now it is looking like a good long. If we sustain above 1.70 we could start climbing up to 1.71 and higher. I will be looking for a pull back for clean entries. I feel if we could get a strong bullish 2 hour candle we could see this pair really take off! This could turn into a long term trade. Keep in mind that overall we are bearish, but I am favoring upside movement
Long
by Layne_LV
Sell EUR/NZD at resistance or break its support lineSell at resistance - 1.70795 Break support - 1.70124 TP1 - ADR low of the day TP2 - 1.68064 Stop Loss - above 1.71742 December is the strongest month for NZD/USD on average over the past 20 years and that a crowded NZD-short is vulnerable. They also note that US tariffs against France (which were imposed hours ago) are a potential negative catalyst for the euro. NZD experiences favorable seasonals in December, short EURNZD is positive carry, and while NZDUSD option implied positioning is already to the topside, momentum has room to continue moving higher. This trade should be relatively uncorrelated to Brexit and benefit from any surprise US retaliation against France as a result of the USTR's digital tax investigation report which will be released on December 2nd. Of the central banks that will be meeting over the next several weeks, the RBA stands out here given it is the most aggressively priced amongst central banks for cuts in the 2nd and 3rd meeting. The risk-reward of paying the March meeting looks increasingly attractive for a US-China Phase 1 agreement scenario, particularly ahead of a potential postponement of December 15 tariffs now that the Hong Kong Bill is signed and behind us.
Short
by TheOfficialAdli
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