EUR/NZD may form a top

EUR/NZD may form a top

Information is not investment advice

Last week, EUR/NZD got rejected from the resistance at 1.7590 thus failing to reach new highs. This week, the pair fell below the June highs in the 1.7300 area. Moving Averages both on the weekly and the daily chart are horizontal and located well below the current price: this means that there’s scope for the euro to decline more before it reaches any support. As a result, downside targets are located at 1.7000 and the pair will arrive there if it slides below 1.7190 (200-period MA on H4), confirming the top.   

EURNZD.png

Similar

EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

USD/CAD may be capable of more

USD/CAD firstly formed a bullish “engulfing” candlestick on the W1 and then confirmed the upside by the following strong bullish candlestick.

Popular

EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

Choose your payment system