EURNZD: Time at mode uptrend signal expires in one day
As you can see in the chart, we have had a strong bullish move from the lows after breaking a highest low trendline.
Right now, there's risk of a broad depreciation of the euro vs stronger currencies, in particular vs the higher yielding Kiwi and the dollar, naturally.
After crude oil started correcting, most euro, chf and gbp pairs started strong bullish legs, but we might be nearing said legs' end.
The last uptrend target signal in the daily will expire after tomorrow's NY close, suggesting a possible reversal or correction.
Other interesting facts:
-Ichimoku shows chikou span hitting cloud resistance, which is very bearish.
-Price just hit a previous mode, a strong resistance area.
The idea is shorting under the highest daily low once that happens.
Good luck!
Ivan.
Right now, there's risk of a broad depreciation of the euro vs stronger currencies, in particular vs the higher yielding Kiwi and the dollar, naturally.
After crude oil started correcting, most euro, chf and gbp pairs started strong bullish legs, but we might be nearing said legs' end.
The last uptrend target signal in the daily will expire after tomorrow's NY close, suggesting a possible reversal or correction.
Other interesting facts:
-Ichimoku shows chikou span hitting cloud resistance, which is very bearish.
-Price just hit a previous mode, a strong resistance area.
The idea is shorting under the highest daily low once that happens.
Good luck!
Ivan.
