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EUR NZD Technical Analysis - EUR NZD Trading: 2022-11-22
EUR/NZD Technical Analysis Summary
Below 1,67
Sell Stop
Above 1,73
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Neutral |
| MA(200) | Neutral |
| Fractals | Neutral |
| Parabolic SAR | Sell |
| Bollinger Bands | Neutral |
EUR/NZD Chart Analysis
EUR/NZD Technical Analysis
On the daily timeframe, EURNZD: D1 is in a short-term downtrend and is moving towards the lower boundary of the long-term channel. Before opening a position, he must break down the 200-day moving average line, which is the support line of the triangle. A number of technical analysis indicators formed signals for further decline. We do not rule out a bearish movement if EURNZD: D1 drops below its latest low, 2 lower fractals and 200-day MA: 1.67. This level can be used as an entry point. The initial risk limit is possible above the last 2 upper fractals, the upper Bollinger band and the Parabolic signal: 1.73. After opening a pending order, we move the stop following the Bollinger and Parabolic signals to the next fractal maximum. Thus, we change the potential profit/loss ratio in our favor. The most cautious traders, after making a trade, can switch to a four-hour chart and set a stop loss, moving it in the direction of movement. If the price overcomes the stop level (1.73) without activating the order (1.67), it is recommended to delete the order: there are internal changes in the market that were not taken into account.
Fundamental Analysis of Forex - EUR/NZD
Reserve Bank of New Zealand may raise rates for the 9th time in a row. Will EURNZD quotes go down?
Such dynamics is observed when the euro weakens against the New Zealand dollar. Investors do not rule out an increase in the RBNZ rate to 4.25% from the current level of 3.5%. The growth of the New Zealand Consumer Price Index in the 3rd quarter amounted to 7.2% y/y. In the EU, inflation in October was much higher than in New Zealand and reached 10.6% y/y. At the same time, the rate of the European Central Bank is only 2%.
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