Trading suggestion: . There is still a possibility of temporary retracement to suggested resistance line (1.7813). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis: . EURNZD is in a range bound and the beginning of downtrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic resistance. . The RSI is at 40.
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Thank you for sharing this fantastic trading opportunity. 👌
ForecastCity
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@Pro_Trader_007, You're most welcome. Thank you for your comment
Helena_FX
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Wow, that is a long way down, most other traders are predicting to rise back up, but you are saying the opposite. I think it will go down near the 1.76000 area somewhere where your bottom line is and if it breaks that then it is quite possible to go all the way down to the 1.74. All the way down to 1.71 I cannot see that happening in the near future, but of course, anything can happen.
ForecastCity
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@HrystiK, Thank you for sharing your view. Yes, anything can happen. We wish you all the best with your trades.
Helena_FX
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@ForecastCity, Not so positive news was released from NZD - Consumer Price Index (YoY) so the EUR is going up now.
Helena_FX
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@ForecastCity, Yes anything can happen and it did. The EUR is going up