EURNZD: Continued weakness expected
Fundamentals out of the Eurozone last week were not good, in particular the data coming out of France.
NZD is looking strong against all crosses at the moment.
From a technical perspective this cross has broken out of its channel to the downside, and now broken the ascending trendline on the weekly and looks to have retested it.
All things suggest to me that this is going to fall further, I'll be looking to get in on a LTF with a first TP of 1.773 and a second at 1.755, depending on how price reacts to my support box.
NZD is looking strong against all crosses at the moment.
From a technical perspective this cross has broken out of its channel to the downside, and now broken the ascending trendline on the weekly and looks to have retested it.
All things suggest to me that this is going to fall further, I'll be looking to get in on a LTF with a first TP of 1.773 and a second at 1.755, depending on how price reacts to my support box.
Comment:
TP1 done, as expected a small bounce off support, expecting this to push through now to TP2
Comment:
Looks like we're breaking through support which will expose TP2
Trade closed: target reached:
TP2 done