Dear All,
Here is a very nice opportunity to short EURNZD and also have best RR 3:82.
Reason:
1. Price rejected from support line thrice time and same with bottom line and a nice pattern made.
2. The New Zealand dollar had performed well against the Euro recently because it is often considered to be a proxy for the Chinese growth. Eurozone weakness may limit any significant reversal if concerns about Chinese growth occurs as the country shifts from export lead growth. The NZD has benefited from the recent Euro-zone difficulties due to idle cash efforts to find strong, secure yields.
3. Euro also loose the power against majors currencies.
Best of luck,
Yousaf
Here is a very nice opportunity to short EURNZD and also have best RR 3:82.
Reason:
1. Price rejected from support line thrice time and same with bottom line and a nice pattern made.
2. The New Zealand dollar had performed well against the Euro recently because it is often considered to be a proxy for the Chinese growth. Eurozone weakness may limit any significant reversal if concerns about Chinese growth occurs as the country shifts from export lead growth. The NZD has benefited from the recent Euro-zone difficulties due to idle cash efforts to find strong, secure yields.
3. Euro also loose the power against majors currencies.
Best of luck,
Yousaf
Trade active:
The price will go little more up so you can short from the point where I selected. Keep good risk to reward ratio. I will update you for any changes. Comment your Idea.
Trade active:
Euro still on downtrend against USD good for us.
Trade active:
Wait if 1.66700 is break then a huge drown is expected.
