Short

EURNZD SHORT | End of week profit target

Updated

I've been shorting this since last week, but didn't release the trade idea.

I just added on to my sell with this continuation pattern.

Im trading a breakout of the contraction, a basic PipsMatter pattern.

RR is very solid!

Note

We have important news coming out of New Zeland overnight... I still expect the print to be NZD positive since we have breakouts on NZDUSD and EURNZD and both breakouts are in favor of NZD. Should be a good mover and we might just wake up with TP being reached SInce its only 120 pips from price action.

From New Zealand, we get the following,

- RBNZ Financial stability report: It provides insights into the bank's view of inflation, growth, and other economic conditions that will affect interest rates in the future;

This release will be important as the RBNZ recently lowered interest rates... now it is important to note that 2 hours after this release the Governor of the RBNZ will hold a press conference.

Orr, who is the governor of the Royal Bank of New Zealand will then again, at 02:10 am GMT testify about the report released at 22:00 pm GMT.

In the mean time we also get the ANZ busienss confidance report...

Making tonight the "NFP" day for the NZD!

PipsMatter

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.