EUR/NZD: quick counter trend play
A strong recovery within the larger down trend is in progress. Since EUR strength (intraday) is quite wide spread so some trading-buys are appropriate. A more conservative approach is to cover EUR shorts and avoid exposure until the market reshuffles to more favourable risk/reward levels and more clarity arises.
We are buying for a quick rally to about 6880<>6895.
Near term trend: positive
Long term trend: negative
Outlook: strong recovery in down trend
Strategy: trading-buy only
Support: 1.6660 / 1.6620
Resistance: 1.6755 / 1.6895 / 1.6895
Outlook cancelled/neutralized below 1.6620
We are buying for a quick rally to about 6880<>6895.
Near term trend: positive
Long term trend: negative
Outlook: strong recovery in down trend
Strategy: trading-buy only
Support: 1.6660 / 1.6620
Resistance: 1.6755 / 1.6895 / 1.6895
Outlook cancelled/neutralized below 1.6620
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.