Double bottom and Descending Triangle Breakout in EURNZD

EURNZD Triangle Breakout Analysis

EURNZD has broken the top zone of the Descending Triangle Pattern in 4-hour timeframe Chart.

EURNZD pulling up now after forming the Double Bottom Zones at the Support.

Any Pull back or retracement from this zone gives good Buy Opportunity for EURNZD.

EU leaders summit meeting announces 750 billion EURO aid given to pandemic affected countries and sectors, even 500 billion and 250 billion also granted to the European countries and sectors.

But the members of former will stop to give aid funds in the form of grants and will start to give in the form of loans to countries.

Mediterranean states like Italy has weakened from Greece debt crisis and aid will help Italy more at this type of pandemic time.

If the failure outcome of this funds issued will lead to high-risk debt like Portugal, Italy, Greece and Spain suffers and Euro need more stability and Unity from those countries.

If unity problem persists then Euro further get weak against the Japanese Yen and the US dollar.

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