EURNZD potential short
Fundamental :
The recent political developments in Europe, specifically the rise of far-right movements, have introduced additional uncertainty in the European market. This political instability is negatively impacting the Euro, making it more volatile and susceptible to depreciation.
Technical Analysis :
Bearish Momentum: EURNZDr has shown signs of bearish momentum, suggesting that sellers are currently in control. This is evident from the recent price action and trend break.
Political Uncertainty in Europe :
The rise of far-right movements in Europe is creating a climate of uncertainty, which is generally negative for the Euro. This political instability is likely to weigh on the EUR/NZD pair, making the Euro less attractive compared to the relatively stable New Zealand dollar.
Conclusion :
EURNZD is presenting a potential short opportunity, driven by technical indicators of bearish momentum and compounded by the political uncertainty in Europe due to the rise of far-right movements. Traders should watch for breaks below key support levels and monitor the overall market sentiment and political developments in Europe.
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