A very nice opportunity to short EURNZD
Dear All,
Here is a very nice opportunity to short EURNZD -0.80% and also have best RR 3:82.
Reason:
1. Price rejected from support line thrice time and same with bottom line and a nice pattern made.
2. The New Zealand dollar 0.63% had performed well against the Euro -0.21% recently because it is often considered to be a proxy for the Chinese growth. Eurozone weakness may limit any significant reversal if concerns about Chinese growth occurs as the country shifts from export lead growth. The NZD has benefited from the recent Euro-zone difficulties due to idle cash efforts to find strong, secure yields.
3. Euro -0.21% also loose the power against majors currencies.
Best of luck,
Yousaf
Here is a very nice opportunity to short EURNZD -0.80% and also have best RR 3:82.
Reason:
1. Price rejected from support line thrice time and same with bottom line and a nice pattern made.
2. The New Zealand dollar 0.63% had performed well against the Euro -0.21% recently because it is often considered to be a proxy for the Chinese growth. Eurozone weakness may limit any significant reversal if concerns about Chinese growth occurs as the country shifts from export lead growth. The NZD has benefited from the recent Euro-zone difficulties due to idle cash efforts to find strong, secure yields.
3. Euro -0.21% also loose the power against majors currencies.
Best of luck,
Yousaf
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