EURNZD Buy Update 300+ Pips

EURNZD has broken the up trend line on the daily but now at the weekly up trend line. Long term the bias is to the north side as all technicals point north.

Indicators:
1. Weekly RSI in Buy Zone
2. Daily RSI in Buy Zone
3. Price at strong weekly up trend line.
4. NZD currency strength in reversal zone.

Enter at current price area of 1.7300
TP @ green lines

Remember patience will pay off. Sometimes a trade goes against you but break up your trades into different positions to capitalize on drawdowns.


Good luck and let me know if there are any questions.

Charles V
CVFX Management
Trading made Simple
Oct: +30% growth

Comment:

RBNZ Rate Statement: "The Committee agreed that the additional stimulus would be provided through a Funding for Lending Programme (FLP), commencing in December. The FLP will reduce banks’ funding costs and lower interest rates."

Rate has been unchanged for quite a while. NZD taking a dovish stance and may lower rates in December.

Comment:

Once we have a daily close above 1.7200 we should be heading up towards 1.7500-1.7600

Comment: