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InvestingScope

EURNZD: Sell opportunity on a long term pattern.

Short
Euro / New Zealand Dollar (FX_IDC:EURNZD)  
InvestingScope  
FX_IDC:EURNZD   Euro / New Zealand Dollar
Trend Analysis Chart Patterns Technical Indicators EURNZD EUR NZD euro newzealanddollar Forex Currencies currency
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trendanalysis chartpattern indicator eurnzd eur nzd euro newzealanddollar forex currencies currency
EURNZD has been trading inside a Channel Up on the 1W chart since late 2012 (RSI = 54.285, MACD = 0.025, ADX = 24.737). In late March 2020 the pattern made its Higher High and has been declining since. The MACD is making a bearish cross-over so we will be taking this opportunity to go short. Our Target Zone is as seen on the chart.

Recent signal:

EURNZD: Still room to rise on the medium term.



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