EURNZD SHORT

7 авг. 2023 г.

Take Profit 1 - 1.7945
Take Profit 2 - 1.7895
Take Profit 3 - 1.7845
Stop loss - 1.8125

The EURNZD pair has been in a bearish trend for the past few weeks, and it is currently trading near the bottom of its range. The current spot rate is 1.8025, and a sell entry point of 1.8025 is just above the recent low of 1.8005.

There are a few reasons why EURNZD could continue to fall in the near term. First, the EUR is generally seen as a safe haven currency, and it has been weakening against the NZD in recent weeks as concerns about the global economy have grown. Second, the European Central Bank is expected to raise interest rates more slowly than the Reserve Bank of New Zealand, which could put downward pressure on the EUR against the NZD. Finally, the Eurozone economy is expected to grow more slowly than the New Zealand economy in the near term. This is due to a number of factors, including the impact of the war in Ukraine on the Eurozone's economy.

Technical analysis:

From a technical perspective, the EURNZD pair is trading below its 200-day moving average, which is a bearish signal. The pair is also forming a bearish descending triangle pattern, which is a continuation pattern that typically leads to a breakout to the downside.

Fundamental analysis:

The Eurozone economy is expected to grow more slowly than the New Zealand economy in the near term. This is due to a number of factors, including the impact of the war in Ukraine on the Eurozone's economy. However, the European Central Bank is expected to raise interest rates more slowly than the Reserve Bank of New Zealand, which could put downward pressure on the EUR against the NZD.

Risks:

There are a few risks to consider before entering a trade on EURNZD. First, the global economy is facing some headwinds, such as the war in Ukraine. These headwinds could weigh on risk appetite and lead to a decline in the EURNZD pair. Second, the Reserve Bank of New Zealand is expected to continue to pursue an ultra-loose monetary policy, which could put downward pressure on the NZD. Finally, the Eurozone economy is facing some headwinds, such as the war in Ukraine and the ongoing trade tensions with China. These headwinds could weigh on the EUR and lead to a decline in the EURNZD pair.

Overall:

I think EURNZD is a good pair to trade for those who are looking for a short-term bearish trend. However, it is important to remember that the forex market is volatile, and there is always the risk of a reversal. You should always do your own research before entering any trades.

Here are some additional factors that you may want to consider before entering a trade on EURNZD:

The economic outlook for the Eurozone and New Zealand.
The level of volatility in the forex market.
The price of oil and other commodities.