EURNZD TECHNICAL ANALYSIS

EURNZD on the daily time frame and still within a channel tilted to the upside.

Bulls are back in control and pushing price upwards towards the upper part of the channel.

Buying at these levels would be risky and if ever attempted should be with a tight stop loss.

Observe mode on for this pair and we can initiate a short position on this pair when it reached the upper slanting line of the channel and preferably with a bearish signal in the form of a bearish candlestick formation.

MACD histogram is below the zero line and its histogram is getting shorter. It has yet to break above the zero line but the momentum is to the upside at the moment.

CONCLUSION

We are BULLISH on EURNZD at the moment. We would attempt to take short positions when price reaches slanting line resistance.

We hope that you have benefited from this analysis.

If you would like to receive our trading signals complete with entry point, take profit and stop loss levels, head over to our subscription page: Click here.

To join our Free Telegram Channel where we provide you analysis, the latest news releases and more. You just need to download the Telegram app on your smartphone and click on this link to join: t.me/forexachievers

Have a great trading day ahead!

Ardy Ismail

Lead Currency Strategist / Team Forexachievers