EURNZD is in a much bigger than expected consolidation pattern. At the moment, we are not sure if the pair will go all the way to retest the low in the 1.5234 area, making that a big abc correction, or it will hold the trend line, on the daily. So far we are taking profit on the positions opened in the 1.574 area, as surely the pair will come back to that price level. Updates will follow.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.