I am a bull on the Kiwi and it has been performing well against the Euro this week. I will be looking for selling opportunities on this pair.
EurNzd Daily Chart
This pair had been ranging for more than two weeks, between 1.50200(support) and 1.52216(Resistance), before it broke through the downside of the range. Price opened between the monthly pivot and MM3 at 1.50858. It is currently at support which lies at MM2. This level is also a psych level, 1.49000. Bulls will be looking to buy here and a retest at the role reversal is eminent. I will be looking for selling opportunities at resistance @ 1.50000
EurNzd H4 Chart
Price opened at the weekly pivot this week. We saw it break through a key support level of 1.50000 and only to find immediate support at the weekly bear target. I will be looking for selling opportunities at the role reversal, also with the 21 eyed as dynamic resistance.
EurNzd H1 Chart
Price is currently trading through a descending triangle and failed 3 times already to break through support. It has also failed to continue a series of lower highs and lower lows. Even though it might break this psych level of support, I want to see price retrace up to either of the 2 resistance levels for me to consider selling. an immediate support level at 1.48471 is eyed.
About The Post
About The Forex Analyst
I just think to myself at times that hey young man, some of best the best days of your life haven't happened yet, and man what a wonderful feeling it is.