InvestingScope

EURNZD: Still room to rise on the medium term.

FX_IDC:EURNZD   Euro / New Zealand Dollar
The pair is trading on a nearly year long bearish Head and Shoulders pattern on 1W, ranging ( RSI = 51.063, STOCH = 51.102, MACD = -0.011) since last November within the neckline of the right Shoulder. The Highs and Lows within the neckline show that there is still upside potential before another bearish leg towards 1.63000. Medium term swing trades may find it useful to wait another 20 sessions before selling the top again.









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