EURNZD Higher
Trying EURNZD higher here.
Rate differentials are moving higher, we got a hawkish cut from the ECB and EU data is improving overall, meanwhile the NZ economy is not doing so well.
I also think NZDUSD moves a little lower here on a strong NFP and therefore likely higher US yields. EURNZD is closely inversely correlated with NZDUSD and so should follow.
Sorry for the messy chart, you can see on there we broke out of a falling wedge which is a good technical sign, we also bounced off a rising trendline support.
Not trading/investment advice, feedback welcome!
Rate differentials are moving higher, we got a hawkish cut from the ECB and EU data is improving overall, meanwhile the NZ economy is not doing so well.
I also think NZDUSD moves a little lower here on a strong NFP and therefore likely higher US yields. EURNZD is closely inversely correlated with NZDUSD and so should follow.
Sorry for the messy chart, you can see on there we broke out of a falling wedge which is a good technical sign, we also bounced off a rising trendline support.
Not trading/investment advice, feedback welcome!
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.