We've seen a decline in the Euro since early January rejecting the weekly key level and breaking the monthly key seen at the 1.66250 price region.
The Euro has seen a lot of pressure with fundamentals, Mario Draghi speeches and certain rates being held till the end of 2019.
EURNZD has seen a nice clean break and retest of the counter trend line and pinged off the 61.8 Fibonacci level. This should give us a nice push to the downside with my first take profit around the minor support seen in pink on the chart, which lies around the 1.64250 psychological price region. We can also expect a bit of consolidation as we sit in a zone where we've seen multiple wick rejections and the may be building up a large amount of liquidity before the market can see a tumble.
As always, trade with correct risk management and lot sizes suitable to your account and have a great day! More articles on the way later today.
Instagram: keownarcher
The Euro has seen a lot of pressure with fundamentals, Mario Draghi speeches and certain rates being held till the end of 2019.
EURNZD has seen a nice clean break and retest of the counter trend line and pinged off the 61.8 Fibonacci level. This should give us a nice push to the downside with my first take profit around the minor support seen in pink on the chart, which lies around the 1.64250 psychological price region. We can also expect a bit of consolidation as we sit in a zone where we've seen multiple wick rejections and the may be building up a large amount of liquidity before the market can see a tumble.
As always, trade with correct risk management and lot sizes suitable to your account and have a great day! More articles on the way later today.
Instagram: keownarcher