EUR/NZD 4H Chart: Decline likely to continue - Trade Pattern Ideas - Dukascopy Bank
Tue, 19 Nov 2019 06:46:32 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Sell
Buy
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Neutral
Sell
Buy
SAR(0.02;0.2)
Buy
Sell
Buy
Aggregate
⇒
⇘
⇗
The common European currency has been depreciating in a descending channel pattern against the New Zealand Dollar since October 14. The currency pair declined by 274 basis points during last week's trading sessions.
The exchange rate is currently trading near resistance levels at the 1.7311/1.7358 area.
If the resistance lines hold, the EUR/NZD exchange rate could make a downside reversal within this week's trading sessions.
However, if the currency exchange rate breaks the resistance level, a surge towards the 1.7600 marks during the following trading sessions.
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