EURNZD
Can't find a clear direction for EURNZD now as we are in a very tide range for 3 weeks. A break of this range and a sustain momentum after the break will give us a clear way where we are heading. I recommend not to trade EURNZD till a clear direction.
Previous Month : Bearish
Previous Week : Bearish
Daily : Bearish
- The COT report showing that NZD buyers are closing longs and Shorts had increased to 40% from 30% last week. With such change in positions, we could see EURNZD move to the upside but be cautious that this could be a profit taking for Long position. Will monitor COT report in coming weeks to clearly understand the positions swaps.
- As for news this week, the important are on Monday Westpac Consumer Survey and Wednesday Trade Balance which will move the market.
Trade Plan Daily Chart:
Also refer to my last week analysis for more details:
