EURNZD trying to re-test the breakout level in 1hr

EURNZD Breakout and Re-test Analysis

EURNZD has moved in an uptrend by forming higher highs, higher lows in 1-hour time frame chart.

Recently EURNZD has broken the bottom zone of the Uptrend line.

Now, EURNZD re-testing the breakout level again. This might be a good sell opportunity for EURNZD. 

However, it’s a tight fight between the EURO and the NZD currency.

The US-China tensions growing day by day, Yesterday Trump gives executive orders for US companies to prohibit a business from Chinese Companies TIK-TOK and WeChat, the executive order says 45 days period of time TIK-TOK handed over to US corporation.

WeChat is Tencent china biggest software giant will reiterate in coming days.

US Dollar and Yen rose against all other currencies.

Positive Economic News data supports USD for bringing back confidence to investors.

Whatever Correction happens now in USD is just a temporary correction.

Let’s wait for the market to reach the major levels for placing the trade.

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