EUR/NZD: quick counter trend play
A strong recovery within the larger down trend is in progress. Since EUR strength (intraday) is quite wide spread so some trading-buys are appropriate. A more conservative approach is to cover EUR shorts and avoid exposure until the market reshuffles to more favourable risk/reward levels and more clarity arises.
We are buying for a quick rally to about 6880<>6895.
Near term trend: positive
Long term trend: negative
Outlook: strong recovery in down trend
Strategy: trading-buy only
Support: 1.6660 / 1.6620
Resistance: 1.6755 / 1.6895 / 1.6895
Outlook cancelled/neutralized below 1.6620
We are buying for a quick rally to about 6880<>6895.
Near term trend: positive
Long term trend: negative
Outlook: strong recovery in down trend
Strategy: trading-buy only
Support: 1.6660 / 1.6620
Resistance: 1.6755 / 1.6895 / 1.6895
Outlook cancelled/neutralized below 1.6620
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