EUR/NZD 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The common European currency recently surged against the rest of the market, as during comments made my FOMC members in the US, the Buck lost value. The surge of the Euro has spilled over into the rest of the currency pairs, against which the European currency trades against. However, against the New Zealand Dollar it seems that the move was expected, as the fundamental move represented an expected break of a large scale triangle pattern. The jump of the Euro against the Kiwi formed an ascending channel pattern, which can be used by traders for short term guidance, as the currency pair establishes new medium and long term patterns.
© Dukascopy Bank SA
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