EurNzd could rise to 1.9- Long term outlook
EurNzd is a very volatile pair and for sure is very risky to trade it in the short term, however, if you take a look at the longer picture and ignore 100+ pips usually daily volatility, you can find pretty nice opportunities. I think this is the case right now...
EurNzd has been in a bull trend for quite some time and from May to August the pair formed a nice ascending triangle which was broken at the beginning of August. A retest of the broken resistance level followed, and a quick reversal after the touch.
Also, this correction from 1.8446 top is a bullish flag and once broken, would suggest continuation. This, correlated with the 1k pips target given by the triangle, could lead to a rise to 1.9.
That being said, I'm bullish EurNzd in the long term and I think the pair will reach 1.9 by year's end.
Happy trading!
Mihai Iacob
EurNzd has been in a bull trend for quite some time and from May to August the pair formed a nice ascending triangle which was broken at the beginning of August. A retest of the broken resistance level followed, and a quick reversal after the touch.
Also, this correction from 1.8446 top is a bullish flag and once broken, would suggest continuation. This, correlated with the 1k pips target given by the triangle, could lead to a rise to 1.9.
That being said, I'm bullish EurNzd in the long term and I think the pair will reach 1.9 by year's end.
Happy trading!
Mihai Iacob
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
🌟 Bust your trading with 50% deposit bonus:
secure.m4markets.com/links/go/5426
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
🌟 Bust your trading with 50% deposit bonus:
secure.m4markets.com/links/go/5426
Related publications
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.