EUR/NZD - Long - Bearish Reversal
I always like too think the charts don't lie and with the ECB meetings tomorrow all signs point upwards.
Although, despite short term success in this diverging channel for NZD that is largely due to the risk on tone across the markets.
The top tier 1.82000 resistance is a potential TP with both 100 & 200 day MA looking to diverge for potential change of direction to either side the ECB news could prove a 100+ pip winner by US session.
For you oscillator fans the RSI indicates its oversold but further risk on tone could see us move into range from the upside breakout earlier this year. The bearish reversal touching the bottom of the channel points to a test upside.
Although, despite short term success in this diverging channel for NZD that is largely due to the risk on tone across the markets.
The top tier 1.82000 resistance is a potential TP with both 100 & 200 day MA looking to diverge for potential change of direction to either side the ECB news could prove a 100+ pip winner by US session.
For you oscillator fans the RSI indicates its oversold but further risk on tone could see us move into range from the upside breakout earlier this year. The bearish reversal touching the bottom of the channel points to a test upside.
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