EURNZD Moves Lower Ahead of ECB IR Decision

EURNZD Moves Lower Ahead of ECB IR Decision

Technical Analysis:
The price broke down from a strong structure zone now turned into resistance.
The fundamental perspective surrounding the EURO is pushing the price down further.
The market is Expecting from ECB to keep rates unchanged at 4.5%
This may help EURNZD moving down more up to 1.7650 ; 1.7570 and maximum for this wave up to 1.7470.
In this way we can see a bigger channel pattern in development.

You may find further details in the chart!
Thank you and Good Luck!

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Trade closed: target reached:

Comment:

✅Breaking: ECB leaves key rates unchanged in March as expected

The interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will stay at 4.50%, 4.75% and 4.00%.

🛑The focus remains on President Lagarde's press conference

Comment:

🚨ECB’s Villeroy: Rate cut in the spring is 'very likely'

This is a clear manipulation that creates instability after the ECB meeting.
President Lagarde said nothing about a possible rate cut soon.
Now we see these comments from ECB representatives the day after the ECB meeting, which is not honest from them.

These comments posted a few minutes ago created a slight sell-off in EURO pairs, which is already persisting.

Comment:

EURNZD tested 1.7750 resistance zone and the above comments pushed EURNZD down again...the trading scenario is still valid

Comment:

🚨Breaking
ECB’s Rehn: Risk of cutting rates too early has significantly decreased

✅These ECB guys are adding fuel to the fire 🔥🔥🔥 🇪🇺
It seems as if they didn't discuss this topic with President Lagarde before the ECB meeting.😂
This seems purposeful to lower the value of the EURO 💥