EURNZD: Rising Wedge Signals Potential Reversal
The price is moving within a rising wedge pattern, which usually signals a potential bearish reversal.
Recently, the price reached 2.0300, marking a new all-time high that dates back to November 2009. Overall, the EURO is very overvalued.
If the wedge pattern holds this time, then the main targets are as follows:
2.0200.
2.0110
2.0030.
NZD weakness was attributed to the New Zealand economy not performing as expected, according to the RBNZ. I can't say if this is true, because the current economic situation is a mess in all major economies due to Trump's tariffs.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
The price is moving within a rising wedge pattern, which usually signals a potential bearish reversal.
Recently, the price reached 2.0300, marking a new all-time high that dates back to November 2009. Overall, the EURO is very overvalued.
If the wedge pattern holds this time, then the main targets are as follows:
2.0200.
2.0110
2.0030.
NZD weakness was attributed to the New Zealand economy not performing as expected, according to the RBNZ. I can't say if this is true, because the current economic situation is a mess in all major economies due to Trump's tariffs.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
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✅MY FREE Signals Channel
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅Suggested News Channel
t.me/ForexNewsNavigator_Official
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅Suggested News Channel
t.me/ForexNewsNavigator_Official
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.