Technician
Long

EURNZD: Probably in early stages of a long term bull trend

FX:EURNZD   Euro Fx/New Zealand Dollar
479 6 7
Since July 2012 bottom, EURNZD             has been trading higher, with some major corrections though, but the overall bias has been bullish , as price broke a long term falling wedge in December, which was followed by a successful retest of the wedge before heading higher again, completing a double bottom pattern by breaking above its neckline around 1.60-1.6200 area. That being said, the recent correction towards that neckline area should be considered a mere retest of the broken neckline, the price action has also taken a shape very close to a bullish falling wedge, hinting a potential resumption of the bullish trend .

Interestingly, a break above the falling wedge may push price towards a potential neckline for another gigantic inverted head and shoulders .
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Marius Johnsrud
3 years ago
yep, looks like accumulation.
Reply
davide.braito
3 years ago
I agree with your analysis
Reply
AncientM
3 years ago
NZD is strong for the rate decision. Institutions/banks is expected to show interest buying it. Your EURNZD analysis would be interesting then.
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alex.a
2 years ago
I can believe it has reached almost 1.37, dude ~ you are magnificent, sir ~
Reply
alex.a
2 years ago
not 1.37 but 1.7 >_<
Reply
hfaruk10
2 years ago
eurnzd weekly going up
Reply
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