Trend Clearly Bullish
Above 55 Daily EMA
Repeated test of weekly level in quick succession suggests a break is imminent.
Clear bullish inverted Head and Shoulders pattern just below weekly level.
Clear institutional buying as seen on chart.
In terms of Fundamentals we have better than expected manufacturing data coming out of Germany last week (PMI Index) which could see improved inflation figures this week in the EU.
Also the CPI data out of NZ is expected to be weaker than last quarter which should further help Euro against NZ with this Trade.
This trade is active so pull the trigger with Pistol from Monday morning when markets open.
RR: 1:4
SL: 1.72768 (Protected by 55 EMA)
TP: 1.79241(Previous Weekly High target)
Above 55 Daily EMA
Repeated test of weekly level in quick succession suggests a break is imminent.
Clear bullish inverted Head and Shoulders pattern just below weekly level.
Clear institutional buying as seen on chart.
In terms of Fundamentals we have better than expected manufacturing data coming out of Germany last week (PMI Index) which could see improved inflation figures this week in the EU.
Also the CPI data out of NZ is expected to be weaker than last quarter which should further help Euro against NZ with this Trade.
This trade is active so pull the trigger with Pistol from Monday morning when markets open.
RR: 1:4
SL: 1.72768 (Protected by 55 EMA)
TP: 1.79241(Previous Weekly High target)