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EURNZD

XM Research

XM Research - 3 years agoBullish

Technical Analysis – EURNZD breaks 2021 high within ascending channel

EURNZD halted its impressive rally at a 15-month high of 1.7357 on Friday and near the top line of the upward-sloping channel, which has been navigating the market since the slide to a three year low of 1.6061 in late November. A downside correction or some consolidation would be normal at the current stage of the bullish wave, though how brutal any pullback could be is still in question since the RSI and the Stochastics, although in overbought territory, have yet to show any convincing weakn
XM Research - 3 years agoBearish

Technical Analysis – EURNZD negative bias fades amid an overall bearish outlook

EURNZD negative bias appears to be fading as the pair bounced back from its 1.6079 low at the beginning of the month. However, the overall bearish outlook is still maintained as the price is well below its 50- and 200-day simple moving average (SMA). The waning negative momentum is also supported by the short-term momentum indicators, as the RSI is increasing but remains below its 50 neutral mark, while the MACD is found below zero and above its red signal line.
XM Research - 3 years agoBullish

US Open Note – Dollar charts best week of 2021; stocks, commodities under pressure

Dollar keeps FOMC power  The US dollar, the world’s reserve currency, is heading for its best weekly trade in nine months buoyed by the FOMC's hawkish turn, which bolstered the outlook for the US economy and put European currencies and commodities on the back seat. US stocks fall but tech sector holds resilient Global stock indices also retreated in fear of higher interest rates for US businesses in the next few years and on concerns other central banks could also follow suit, though t
XM Research - 3 years ago

RBNZ meeting unlikely to rattle the kiwi – Forex News Preview

The Reserve Bank of New Zealand (RBNZ) will wrap up its upcoming meeting at 02:00 GMT Wednesday. Economic data have lost some momentum lately and as a result, markets have priced out expectations for rate hikes. That said, the economy remains in good shape overall. As for the kiwi, the outlook still seems positive, just not against the US dollar. Housing market on fire Quite a lot has happened since the RBNZ last met in February, but since developments have been both positive and negative, the
XM Research - 3 years ago

Economic growth figures for Q4 out of New Zealand will hit the markets at 21:45 GMT Wednesday. Forecasts suggest that the economy has recovered all its losses from the crisis, even though the struggling tourism industry likely held back growth this quarter. As for the kiwi, the overall picture remains positive, particularly against the euro and the yen.
XM Research - 4 years ago

The latest inflation numbers from New Zealand will hit the markets late on Thursday (21:45 GMT). Forecasts suggest that inflationary pressures cooled, which may be partly owed to the stronger exchange rate. Still, the domestic economy has recovered well, the virus has been eradicated, and it is looking less likely that the Reserve Bank will cut rates again.
XM Research - 4 years agoBullish

Technical Analysis – EURNZD finds wall at 10-year top; looks overbought

EURNZD found some footing around the ten-year high of 1.9922 before edging lower near the 23.6% Fibonacci retracement level of the upward move from 1.6615 to 1.9922 at 1.9145. The red Tenkan-sen line, remains well above the blue Kijun-sen and the RSI is currently flirting with overbought levels, while the stochastic is turning lower into the positive area after the bearish cross within the %K and %D lines, which exited the overbought region.
XM Research - 4 years agoBullish

Technical Analysis – EURNZD hits levels not seen in 9-years before dropping back down

EURNZD’s fierce move yesterday stretched towards nearly a 9-year high of 1.8980 before sellers pulled the pair south to around 1.8016, which is a high from back in September of 2015 (previous resistance-now-support). The positive picture still looks intact with the upward sloping simple moving averages (SMAs) and a nearing bullish cross of the 100 and 200-day simple moving averages (SMAs) by the 50-day one.
XM Research - 4 years agoBearish

Technical Analysis – EURNZD increases within Ichimoku cloud; broader picture is negative

EURNZD has gained little today but it managed to hold within the Ichimoku cloud and the 20- and 40-day simple moving averages (SMAs), with the technical indicators feeding prospects for a possible upside move. The RSI indicator is sloping upwards and is approaching the bullish zone, while the stochastic continues to strengthen after the bullish cross within the %K and %D lines.
XM Research - 5 years agoBearish

Technical Analysis – EURNZD seems to have found a ceiling; bearish bias in near term

EURNZD has come under renewed selling pressure and has fallen back below the 1.7000 handle, though it remains inside the Ichimoku cloud. The technical indicators are falling simultaneously with the price, as the RSI found a wall at the 70 level and declined sharply lower, while the stochastic created a bearish cross with its %K and %D lines in the oversold zone.

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