Early this week we had a EURNZD trade on the 4 hour chart - however it was quickly nullified, no conviction. This led to a pretty harsh sell off for a couple of days before rebounding and staying above a certain daily strength that was identified.
To finish off the week, EURNZD not only closed above on the 4 hour chart - but managed to secure the daily AND weekly close for this newly defined move.
I fully expect EURNZD to make an almost immediate move to 1.7000 during the first 2 days of trading next week, a retest of 1.7250 area by week's end. For additional upside - I have my eye on NZDUSD looking for that close below .64000. Should that confirm I will be targeting a move much higher between 1.75-1.80, one step at a time though.
Here is the for reference:
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