EURNZD PREMATURE SHORT IDEA - WAIT FOR CONFIRMATION

This Week's Fundamental Analysis
Logikfx's Macro Currency Strength Meter (MCSM) helps investors quickly see the fundamentals for each currency in the coming week. Save time, trade better.


For Week 38 in 2022
Strong Currencies: SGD = 25 (+25), NZD= 47 (+20), ZAR = 29 (+24) ... See more
Weak Currencies: EUR = -27 (-5), GBP = -3 (-3), JPY = -27 (-15) ... See more

• EURNZD is reaching a 'sell-zone' from July 2022, which peaked at 1.69862. The current price resides at 1.68079.
  
• Retail trader volume peaked alongside price movement slowing down. This may be early signs of selling pressure.
  
• WARNING - Lack of price-low broken prior to this uptrend. This may suggest a short trade is premature
  

.


Sources

www.logikfx.com/post...rency-strength-meter

Comment:

Price congesting near sell price. Wait for confirmation of a lower low - lower high formation before entering short.

If this doesn't occur idea is too early.