HomeForex MarketEvery day Foreign exchange Information and Watchlist: EUR/NZD

Every day Foreign exchange Information and Watchlist: EUR/NZD

The ECB is about to announce its coverage resolution in a bit!

For those who’re gutsy sufficient to commerce a euro pair throughout this top-tier occasion, higher try this break-and-retest setup on EUR/NZD.

Earlier than transferring on, ICYMI, yesterday’s watchlist checked out an ascending triangle sample on AUD/JPY forward of Australia’s jobs report. You’ll want to try if it’s nonetheless a sound play!

And now for the headlines that rocked the markets within the final buying and selling periods:

Recent Market Headlines & Financial Information:

BOC hiked rates of interest by 0.50% to 1.00% as anticipated

U.S. EIA crude oil inventories rose by 9.4 million barrels

New Zealand BusinessNZ manufacturing index up from 53.6 to 53.8


ECB financial coverage assertion at 11:45 am GMT
ECB press convention at 12:30 pm GMT
U.S. headline and core retail gross sales at 12:30 pm GMT
U.S. preliminary jobless claims at 12:30 pm GMT
U.S. preliminary UoM shopper sentiment index at 2:00 pm GMT
FOMC member Mester’s speech at 7:50 pm GMT

Use our new Forex Warmth Map to rapidly see a visible overview of the foreign exchange market’s worth motion! 🔥 🗺️

What to Watch: EUR/NZD

EUR/NZD 1-hour Foreign exchange Chart

Missed the bullish breakout on this pair’s longer-term descending triangle?

Don’t fret as a result of there would possibly nonetheless be an opportunity to catch the retest!

The pair is hesitating to increase the rally previous the 1.6050 minor psychological mark, which implies that a pullback may be wanted to attract extra patrons out.

The Fibonacci retracement software reveals that the 38.2% degree is close to the previous triangle resistance across the 1.5900 deal with whereas the 50% Fib coincides with the 100 SMA dynamic help.

This faster-moving SMA is above the 200 SMA to substantiate that help ranges usually tend to maintain than to interrupt. Nonetheless, Stochastic has loads of room to maneuver decrease earlier than reflecting oversold circumstances or exhaustion amongst sellers.

This implies that the pullback would possibly preserve going till the 61.8% Fib at 1.5835, which is according to the 200 SMA dynamic help.

If any of the Fibs are capable of preserve losses in examine, EUR/NZD might bounce again as much as the swing excessive and past!

Simply be sure to preserve tabs on the ECB resolution and press convention to see if the shared forex might go for extra positive factors.

Understand that their earlier announcement turned out much less dovish than anticipated, however this occurred earlier than geopolitical tensions between Russia and Ukraine wreaked havoc on inflation.



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