theforexportal

EURNZD in a strong BULL trend

FX:EURNZD   Euro / New Zealand Dollar
EURNZD has soared on the back of a hawkish ECB and a dovish RBNZ. With prices well above the 200 sma on the DTF this pair looks to be headed to major resistance at 1.5765. Studies are highly overbought with the RSI on the DTF reading 78 and TDI suggest we need to return to lower ground before the next leg north.

Same advice as other EUR pairs as we await Draghi on Monday.

Trading idea
SELL on open if we stay below 1.55441 with a STOP above.
Look to BUY on any decent pullbacks.
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