Today’s EUR/NZD Signal
Risk 0.33%
Trade can be taken during European trading hours
Long Trade 1
Buy EUR/NZD at 1.53
Set stop loss to 1.52
Take profit at 1.55
Move stop loss to break even at 1.5350
Short Trade 1
Sell EUR/NZD at 1.4990
Set stop loss at 1.5110
Take profit at 1.4500
EUR/NZD Analysis
The Wednesday session saw the Euro gain a bit during most currencies around the world, and of course the Kiwi dollar was no different. Because of this, it’s likely that we will continue to see the overall consolidation that I have marked on the chart. I would of course suggest that between the 1.51 and the 1.50 levels there is a significant amount of “soft support.” This because of that very fact that I don’t want to sell into we break down below the 1.50 psychological level. In the meantime, it looks like we are ready to bounce and the 1.55 psychological level should be a good place to take profit.
I see no announcements to interfere with this trade.
