EUR/NZD Counter Trend Move Should Happen Now
The EUR/NZD is at critical support. Monthly L5 level has already been reached so I expect a counter trend move off the W L3 support.
A bounce off the 0.6620 is possible right now. Counter trend trade should aim for 1.6690 as the first target. If the market makes a 4h close above 1.6716 then we could see 1.6790 and 1.6806. However, we might wait for couple of days for EUR/NZD to reach its target as today is Dec 31 and we have New Year holidays soon.
Happy NEW YEAR everyone! Don’t Forget to join the winning team in 2020!
The analysis has been done with the CAMMACD.MTF template.
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Many green pips,
Nenad Kerkez aka Tarantula FX