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: the opportunity is still here
Trade idea
SELL 1.7055; TP 1.6990; SL 1.7070
When looking for pairs to trade to benefit from today’s meeting of the European Central Bank, pay attention to EUR/NZD. We already drew your attention to this pair last week, and the idea still looks good. Moreover, the pair has actually confirmed a “double top” on the D1 as it tried to retest the neckline and got rejected to the downside. Now it’s possible to join sellers on the break below 1.7060 (50% Fibo of the July-August advance, 100-day MA) targeting 1.6985 (100-week MA).
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.
European stocks traded slightly lower on Friday afternoon
The NZD/JPY pair is trading within the cloud. A failed attempt to move higher will push the market to exit the Kumo, confirming a bearish scenario.
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