JLS Trade: NZDEUR Bullish x EURNZD Bearish Short Term

The NZDEUR bullish in short term to 0.6100 from 0.5775 and the EURNZD bearish in short term for the equivalent rate (see chart). At the same time, EURUSD is bearish and the NZDUSD is bullish. At such, the risk for long trade on NZDEUR or the short trade on EURNZD is relatively low.

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The analysis is based on NZDEUR for 0.5775 to 0.6100 for about 325 PIPs and the equivalent rate to EURNZD estimated to 1.7200-1.6300 for about 900 PIPs with price differential about 475 PIPs. Therefore, for analysis was based on NZD for NZDCHF, NZDJPY, NZDEUR and NZDUSD.