EURNZD Triangle Retest Analysis
EURNZD has broken the top level of the Ascending Triangle pattern in the 1-hour timeframe chart.
Now, EURNZD came back to retest the broken level of the Ascending triangle.
ECB monetary policy meeting held on tomorrow, we may expect expanding of Euro 1.35 trillion PEPP’s and offer long term loans to long term refinancing operations TLTRO’s. These are 2main tools effectively adjusting to improve the economy from deflation. There is a chance of 25% rate cut in December meeting as per the investor’s view.
New Zealand dollar seems at new highs now after march 2020 high level.
As domestic data comes better and US fiscal stimulus may deliver this week. The vaccine may be approved and released next week for US people.
Upto Feb 2021 RBNZ meeting, the New Zealand dollar moves upon the US domestic news only.
After the confirmation of reversal on this retesting zone, EURNZD Buy signal is given.
EURNZD has reached the take profit 1 sucesssfully.
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