EURNZD continues its strong bearish momentum after closing below intraday tunnel, the bias is bearish targeting last week's low at 1.6632 before making another historical low
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EURNZD continues its strong bearish momentum after closing below intraday tunnel, the bias is bearish targeting last week's low at 1.6632 before making another historical low
I don’t know about you, but I think the best moment to look for short opportunites its when the market breaks through and important LT support level and confirms it afterwards… this just happened with the Euro/New Zealand.
It should test 1.6460 area after which a sell off down to 1.6345 or extended to 1.6238 area is expected.
Supports / Resistances
Res 2 1.6663
Res 1 1.6558
Pivot 1.6450
Sup 1 1.6345
Sup 2 1.6238
The pair is moved up to test the resistance on 1.6448
if it is breaked we can see the pair move up
if this resistance is not breaked we can see the pair move down to test the 1st support on 1.6460
The price is still quoted below the SMA50 and SMA 200, but the ADX 20 level is below 23, suggesting some pause in strong volatility.
the pair has closed it's daily candle above 1.6400 . so , that's means that up trend is expected and the pair might head to 1.6350 and then 1.6300 ,but also the hourly correction is expected before continue in the up trend
the pair and as we can see from the chart has closed it's daily candle above the level of 1.6400 , so , that's mean the up trend is still standing and the pair is heading to 1.6500 then 1.6540
the pair and as we can see from the chart has closed it's daily candle above the level of 1.6400 , so , that's mean the up trend is still standing and the pair is heading to 1.6500 then 1.6540
the pair and as we can see from the chart has closed it's daily candle above the level of 1.6400 , so , that's mean the up trend is still standing and the pair is heading to 1.6430 then 1.6470
It should trade higher to 1.6457 while 1.6332 or 1.6299 offers support. Stop loss below 1.6267 zone.
Supports / Resistances
Res 2 1.6522
Res 1 1.6457
Pivot 1.6332
Sup 1 1.6267
Sup 2 1.6142