EURO - Weak Bearish
1️⃣ Both Manufacturing and Services PMIs in the Eurozone declined in September.
2️⃣ Political uncertainty in Germany could affect the value of the EUR.
NZD - Weak Bullish
1️⃣ Sentiment improved after the Fed issued a hawkish tone at the FOMC meeting.
2️⃣ New Zealand’s GDP grew by 2.8% in the second quarter of 2021.
3️⃣ New Zealand’s annual inflation rate rose to 3.3% in the second quarter of 2021.
4️⃣ New Zealand’s unemployment rate dropped to 4.0% in the second quarter of 2021.
=====
Technical
=====
We are selling the EURNZD after it failed to break the resistance.
=====
Risk to this trade
=====
Any change in sentiment could turn the pair's direction.
Don't forget to like, comment, and subscribe for more ideas.