Midterm forecast:
There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 1.7115 would begin in Midterm.
Trading suggestion:
Price is in the Sell Zone (1.7295 to 1.7480).
We would set sell orders based on Daily-Trading-Opportunities and expect to reach short-term targets.
Beginning of entry zone (1.7295)...
EURNZD: ECB June meeting=RBNZ August meeting
At June’s ECB meeting the rate hike timing factor triggered the tremors, sent EURSUD to 1.1560 down nearly 2.0%. Fast forwarding to today’s RBNZ meeting, NZD tumbles after RBNZ delay rate hike for another year. At the time of writing NZD down more than a percent across the board.
The cross just has been run through the...
The Day candle chart of EUR/NZD formed the classic Megaphone pattern.
It resisted and reacted well in the trend line resistance.
The pair will be expected to be bearish and would reach the expected target considering longer term.
EURNZD Sell @ CMP 1.6890
Stop Loss = 1.7480
Take Profit 1 = 1.6646
Take Profit 2 = 1.6353
Take Profit 3 = 1.6109
For Forum Discussion: EURNZD LeTechs Forum
Reason : Continuation of second wave in direction of south. Before that small upside correction too can be played.
Timeframe : By end of second week of September.
