EURNZD - Bull Flag forming!
Updated
EURNZD Bull Flag forming on the daily chart.
Looking at yields - German bunds - 10y, 5y, and 2y are increasing. This should put pressure on the EUR for more upside. There is a lot of bearish risk associated with the EUR however pairing the EUR versus the NZD which is more sensitive to USD and Equity pressure. With inflation at all times high in the US - commodity currencies should be bias to the downside.
Long EURNZD off the bull flag
Looking at yields - German bunds - 10y, 5y, and 2y are increasing. This should put pressure on the EUR for more upside. There is a lot of bearish risk associated with the EUR however pairing the EUR versus the NZD which is more sensitive to USD and Equity pressure. With inflation at all times high in the US - commodity currencies should be bias to the downside.
Long EURNZD off the bull flag
Trade closed: target reached
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