EUR/NZD 1H Chart: Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Throughout the last 270 hours EUR/NZD has been posting lower peaks and higher valleys, in other words forming a triangle on an hourly chart. However, even though both trend-lines proved to be reliable, one of them is soon going to be breached, being that the pair is approaching the point of their intersection (there are still around 20 bars to be completed until it is reached). Nonetheless, the market appears to be undecided what EUR/NZD is going to do: 48% of open positions are long and 52% are short. Technical indicators are mixed as well, only the daily ones are pointing upwards.

© Dukascopy Bank SA
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Wed, 03 Jul 2013 05:43:49 GMT

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