Keep an eye on EUR/NZD

Keep an eye on EUR/NZD

Trade idea

BUY 1.7445; TP1 1.7490; TP2 1.7515; SL 1.7425

EUR/NZD formed a number of candlesticks with long lower wicks on the D1 - a sign that there’s demand for the euro around 1.7300. The pair is trying to form a bottom and is currently testing the resistance line connecting October highs. Resistance is also provided by the 200- and 100-periods MAs on the H4 in the 1.7430 area. A break above 1.7440 is needed to open the way up to 1.7490 and 1.7515 (Oct. 30 high). Support lies at 1.7395 (50-day MA). The return below this level may weaken the pair to 1.7350 and 1.7325.

EURNZD.png

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GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.

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Latest news

GBP/USD: levels to trade

GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.

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