EUR/NZD pair has shown
its uptrend on daily bar handle sticks for the last week. The sequential
uptrend has given more than 500 pips on last week.
This tremendous trend had
been achieved its high resistance of 1.71527 since this year. At this point, we
can expect a trend reversal in favor of NZD. At the beginning of this week, the
market has made a runaway gap against NZD.
Thus, we can blindly believe over
this trend reversal to attain its future support. There will be more chances to
retrace towards the short. Thus the price pattern will be moving against EURO.
The expecting support point will be 1.69541 and it should be achieved.
Before
that, we may face island reversal for some occasion to prove the market
stability. But, once the trend crossed its pivot value then the trend will be
moving to achieve its support.
The technical indicators are showing confident
about the sell trend until it hit its support.
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