This pair is surely taking its time at trend line support and since 20 Feb buyers have had to work hard to keep their heads above the water. Thanks to trendline support from the 2017 lows, they’ve managed to do that. However, last week it took a turn for the worst and Thursday’s candle engulfed the previous 3 sessions and triggered yet another retest of the 2017 trendline. I will wait for a Daily close below trend line support around 1.6870 (while drinking a Vodka) and such a break would expose the downside at 1.680 followed by 1.6640.

EURNZD - TAKING ITS TIME - 11 MARCH

Source: MARYNA MURRAY

One thought on “EURNZD – TAKING ITS’ TIME – 11 MARCH 2018”

  1. Vodka, neat, straight out of the freezer, in a very cold shot glass….as my Russian friends would insist I consume it. So i’m looking at the EURUSD and NZDUSD, ND is ranging (not an uncommon theme ATM) currently rising up to the top of the range, so, for above move to eventuate you would expect NZD strength, as opposed to EUR weakness. I am currently long EURUSD so am rooting for the EUR. Will watch this pair with interest, thanks for the post!

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