A great opportunity for Shorting EURNZD

Short

Euro / New Zealand Dollar (FX_IDC:EURNZD)

Updated

FX_IDC:EURNZD Euro / New Zealand Dollar

Trend Analysis Harmonic Patterns Chart Patterns

trendanalysis harmonicpatterns chartpattern

EURNZD Short

Comment:

NZD is ready for a major Flag and Channel breakout. This is NZD weighted average chart against the other 7 major currencies. Stronger NZD is good for our trade :)

snapshot

Comment:

EURO is showing exhaustion on the weekly chart. See RSI trending down unlike the price trending up

snapshot

Cheaper EURO is what we are expecting for this trade

Comment:

Lastly not to forget that EURNZD on weekly TF is forming a huge wedge. Since Nov we have been consolidating near the upper band of the wedge

snapshot

Related Ideas

about EURNZD

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