Levels to trade EUR/USD
EUR/USD has turned up from the 50-day MA at 1.1715 yesterday. This is a sign that buyers are strong. Still, the short-term resistance line limits the upside at 1.1870.
EUR/NZD is in a triangle
Trade ideas
SELL 1.7240; TP1 1.7170; TP2 1.7050; TP 1.7260
BUY 1.7455; TP 1.7550; SL 1.7435
EUR/NZD met resistance in the 1.7570 area, at the line connecting the 2019 highs. The pair failed to close near this level last week and went down to consolidate around 1.7325. On H4, we can see that the consolidation is taking the form of a triangle and that Awesome Oscillator got into the negative territory. The decline below 1.7250 (lower border, 50-period MA) will open the way down to 1.7170 (38.2% Fibo of the July-August advance) and 1.7050 (50% Fibo).
The upper border of the triangle at 1.7430 likely provide resistance. Above it, the pair will have a chance to retest 1.7570, but only a break above this level can open the way to 1.7800.
Elizabeth Belugina
Similar
EUR/USD looks ready for more downside
EUR/USD is supported around 1.1750. However, the pair has already fallen below the summer support line. We’ll view buy trades only when the pair returns above 1.1800.
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