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Eurnzdshort

EURNZD - Bearish BiasEURO - Weak Bearish 1️⃣ Both Manufacturing and Services PMIs in the Eurozone declined in September. 2️⃣ Political uncertainty in Germany could affect the value of the EUR. NZD - Weak Bullish 1️⃣ Sentiment improved after the Fed issued a hawkish tone at the FOMC meeting. 2️⃣ New Zealand’s GDP grew by 2.8% in the second quarter of 2021. 3️⃣ New Zealand’s annual inflation rate rose to 3.3% in the second quarter of 2021. 4️⃣ New Zealand’s unemployment rate dropped to 4.0% in the second quarter of 2021. ===== Technical ===== We are selling the EURNZD after it failed to break the resistance. ===== Risk to this trade ===== Any change in sentiment could turn the pair's direction. Don't forget to like, comment, and subscribe for more ideas.
Short
by MonsunAsia
EURNZD - Bearish BiasEURO - Weak Bearish 1️⃣ Pressured by negative sentiment in the Eurozone. 2️⃣ Concerns about the spread of COVID-19 variant Delta in the region. 3️⃣ In August 2021, ZEW economic sentiment in the Eurozone fell by 18.5 points to 48.7 from the previous month’s 61.20. 4️⃣ Both Manufacturing and Services PMIs in the Eurozone declined due to the rise of COVID-19 in the region. 5️⃣ The German IFO business climate is forecast to deteriorate, following a decline in German ZEW sentiment. NZD - Strong Bullish 1️⃣ Recovered from a massive sell-off last week after Fed Officer Robert Kaplan considered delaying a reduction in Fed stimulus. 2️⃣ A positive market environment benefits high-beta currencies such as the NZD. 3️⃣ In the second quarter, retail sales in New Zealand increased by 3.3%, following a 2.8% increase in the previous period. ===== Technical ===== We are selling the EURNZD after it failed to break resistance levels. ===== Risk to this trade ===== Any change in sentiment could turn the pair's direction.
Short
by MonsunAsia
1
EUR/NZD:FUNDAMENTAL ANALYSIS+PRICE ACTION & NEXT TARGET|SHORT🔔The New Zealand Trade Balance for July was reported at -NZ$402M monthly and at -NZ$1,100M 12-month year-to-date. Forex traders can compare this to the New Zealand Trade Balance for June, reported at NZ$245M monthly and -NZ$280M 12-month year-to-date. Exports for July were reported at NZ$5.75B and Imports at NZ$6.18B. Forex traders can compare this to Exports for June, reported at NZ$5.96B, and Imports, reported at NZ$5.71B. The German IFO Business Climate Index for August is predicted at 100.4. Forex traders can compare this to the German IFO Business Climate Index for July, reported at 100.8. The German IFO Current Assessment Index for August is predicted at 100.8. Forex traders can compare this to the German IFO Current Assessment Index for July, reported at 100.4. The German IFO Expectations Index for August is predicted at 100.0. Forex traders can compare this to the German IFO Expectations Index for July, reported at 101.2. The forecast for the EUR/NZD remains bearish after this currency pair corrected into its descending Ichimoku Kinko Hyo Cloud. Price action may temporarily pause, and volatility can increase, but the longer-term downtrend remains intact. Will bears pressure the EUR/NZD into an extended sell-off into its horizontal support area? Previous Idea in Take profit:
Short
by FOREXN1
2