Fundamentals
• Eurozone bond and stock markets outperformed on 20 October 2016 after Draghi managed to dampen tapering fears, while postponing any decisions on future policy to December. Bund futures moved sideways in after hour trade, and oil prices are falling towards USD 50 per barrel, which will dampen investor appetite but Eurozone markets are likely to continue outperforming their U.K. counterparts in the wake of Draghi’s statement.

• 24 October 2016 NZD holiday (labour day) and data to be released through the week are exports, imports, trade balance, net positions and Building consents.

• 24 to 28 October 2016 a lot of EUR data will be released through the week relating to PMI, PPI, Manufacturing, Services, Industrial, Import price index, consumer confidence, retail sales, unemployment, CPI & etc.

In conclusion, the data for the EUR seems to be a positive forecast compared to the NZD data forecast. Therefore, this could be positive for my trade plan

Plan
Following my trade plan from last week on 12 October 2016 where I sold this pair at 1.56020 and successfully took TP @ 1.5200. Therefore, this week I am looking at a possible buy opportunity as the pair is currently trading at the support on MS1 (D1 chart) while at H4 chart the price broke the take profit zone support area but failed to break WS3 support. However, with this pair I am bias to be bullish (as indicated by the D1 chart also noted where MA 200 is sitting) as on the H1 chart the MA 55 & 21 are starting cross to show the change of direction as bulls are starting to take over this pair (meaning before I execute the trade I will be closely monitor the direction on H1, M15 & M5).

Trade
I want to enter the trade @ 1.5118 (MS1-D1 chart), TP @ 1.5643 (MR1-D1) also noted that MA 200 is around 1.5859 (D1 chart) and SL @ 1.5082 (WS3-H4 chart).

EURNZDDaily-1

EURNZDH1-1

EURNZDH4-1

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