jbourgault
Long

EURNZD long term long setup

FX:EURNZD   Euro Fx/New Zealand Dollar
22 1 1
Since the last ECB conference, it seems like the EUR just started a major recovery against risk-on currency like AUD, NZD and CAD.

Regarding the EURNZD             , we might be just at the start of a long term wave 3 which would correlate with a deep worldwide risk-averse mood given low OIL             price, issue with China and the US Fed hicking rates.
Breakout of previous high just occurred (which is correlating with GBPNZD).

Long trade is currently active with a stop below the previous higher low @ 1.6476.

Stay tuned for update after the FOMC minutes. I expect the Fed message to be received as neutral/hawkish. If that unfold as predicted, expect all commodities to go down and EUR, USD and GBP to go up.

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