EURNZD - Fair price, good setup

FX:EURNZD   Euro / New Zealand Dollar
188 0 7
Looking on a weekly chart, it does look like the long lasting downtred has ended and a new uptrend emerged. However, if you look from a fundamental perspective, it is almost impossible to have the same opinion. There is no reason to see a massive surge in the Euro             that will last for months, because right now the currency to own is the dollar. On the other hand, the NZD still offers a nice carry and the rate cuts are probably over. However, considering how clean the chart looks, I think a bet is appropriate.

On the right side, the daily chart offers a great buy setup, with price standing just at value on the weekly. Class A bullish divergence after breaking the neckline of a H&S and a nice reversal candle.
Because of the fundamental reasons I stated in the first paragraph, I wouldn't look for more than 1.79 - 1,80 in this pair. The stop is just below yesterday's low, and if that low is to break, I'm out.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out