EUR/NZD 4H: Breakout occurs - Trade Pattern Ideas - Dukascopy Bank

Mon, 18 May 2020 07:16:27 GMT
Source: Dukascopy Bank SA
 
Indicator4H1D1W
MACD(12;26;9)BuyBuyBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)SellSellNeutral
Alligator(13;8;5)BuyBuyBuy
SAR(0.02;0.2)BuyBuySell
Aggregate

The common European currency has surged by 3.63% against the New Zealand Dollar since May 10. A breakout occurred through the upper boundary of a descending channel pattern during last week's trading sessions.

Technical indicators suggest buying signals. Therefore, the currency pair could continue to trend bullish within this week's trading sessions. The exchange rate could target the 1.8800 area.

However, the EUR/NZD currency exchange rate could make a brief retracement towards the 50– and 100– period simple moving average at 1.7920 during the following trading sessions.


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