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Euro / New Zealand Dollar

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EURNZD trade ideas

EURNZD 1H Time To Buy: The price recently found support around the 1.74684 level, indicating a potential stabilization or buying interest at this point. This suggests that the downward pressure may have eased, making it a strong candidate for a bullish move. Based on this support level, the expectation is for the price to rise towards the previous day's high of 1.75990. This target represents a notable resistance level where the price previously encountered selling pressure, and surpassing it could signal a continuation of the upward trend.
Long
by vbenking91
1
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.
Short
by Metow1sw
Eur Nzd Long A long position on EUR/NZD looks promising based on strong support zones and bearish sentiment towards the New Zealand Dollar. The NZD faces pressure from weak domestic economic data and dovish Reserve Bank of New Zealand (RBNZ) policies. In contrast, the Euro is supported by stable Eurozone economic performance and potential ECB rate hikes. Technically, EUR/NZD has established firm support around key levels, providing a solid entry point for a long position. If the pair holds above these support zones and the NZD remains under pressure, a bullish move towards higher resistance levels is likely, making this an attractive setup.
Long
by realtrademaster