This is a good trade in my opinion because technically It will meet resistance and shift back down at some point slowly , But for now based on some key info which is, the betting on the short side of the Euro is starting to fizzle out like a sparkler .
We know the ECB meet today and also the Election results are going to be announced ,
Key points
1. ECB have been gently letting us know through the Tanoids that tapering is going to be slowly wound up .
2. All the printing of money and flat interest rates have worked as the proof is in the pudding .
3. To prove it cast your mind back when everybody cried parity on EUR/USD, did it happen no..... it got close, if someone said PARITY now you would think there mad .
4. Some disappointing Trade balance figs from CNY and AUD will have an affect on the NZD aswell .
So for now
1.5580-156.20 is the confluence zone to enter for the long side on EUR/NZD
TP @ 1.58
Stop set @ 1.55.50 out the way of the last low and fib line .
Lets all sit with a coffee and listen to what Mr.Draghi will say ..............
Have a great day people.....and make sure if you trading the events today you have your stops in place, otherwise you will get burned okay !!!
We know the ECB meet today and also the Election results are going to be announced ,
Key points
1. ECB have been gently letting us know through the Tanoids that tapering is going to be slowly wound up .
2. All the printing of money and flat interest rates have worked as the proof is in the pudding .
3. To prove it cast your mind back when everybody cried parity on EUR/USD, did it happen no..... it got close, if someone said PARITY now you would think there mad .
4. Some disappointing Trade balance figs from CNY and AUD will have an affect on the NZD aswell .
So for now
1.5580-156.20 is the confluence zone to enter for the long side on EUR/NZD
TP @ 1.58
Stop set @ 1.55.50 out the way of the last low and fib line .
Lets all sit with a coffee and listen to what Mr.Draghi will say ..............
Have a great day people.....and make sure if you trading the events today you have your stops in place, otherwise you will get burned okay !!!