Looking @ the Published Chart. I will be using the Price level of 1.7740 has my inflection point.
I have expectation for continuation to the UPSIDE in as much as we stay above 1.7740.
I expect the following scenario:
If the Market OPEN in BALANCE right where it closes last week,
a) I expect us to test 1.7743,bounce off from here and resume the buying of EURNZD and potentially in a gift case scenario test of 1.7708 which would potentially give me a reason to consider this bearish if I do not see quick aggressive buying
b)I will take a look @ NZD continued weakness will definitely help this trade so it is worth keeping an eye on as well.
I have expectation for continuation to the UPSIDE in as much as we stay above 1.7740.
I expect the following scenario:
If the Market OPEN in BALANCE right where it closes last week,
a) I expect us to test 1.7743,bounce off from here and resume the buying of EURNZD and potentially in a gift case scenario test of 1.7708 which would potentially give me a reason to consider this bearish if I do not see quick aggressive buying
b)I will take a look @ NZD continued weakness will definitely help this trade so it is worth keeping an eye on as well.