{"id":136692,"date":"2018-11-06T05:43:50","date_gmt":"2018-11-06T10:43:50","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=136692"},"modified":"2018-11-06T05:38:40","modified_gmt":"2018-11-06T10:38:40","slug":"eurnzd-broken-supports","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/11\/eurnzd-broken-supports\/","title":{"rendered":"EURNZD \u2013 broken supports"},"content":{"rendered":"<div id=\"inves-3137450230\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">November 6, 2018<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p><strong>By <a href=\"https:\/\/alpari.com\/en\/analytics\/analysts\/wisniewski\/\">Tomasz Wisniewski, Alpari<\/a><\/strong><\/p>\n<div class=\"reviews-item__content\">\n<p><a href=\"https:\/\/alpari.com\/en\/analytics\/reviews\/market_sessions\/28926_29102018\/\">On the 29<sup>th<\/sup> of October<\/a>, we wrote a piece about NZDCHF. In that analysis, we were bullish and that was a great call. Since our piece was published, the price has climbed more than 150 pips higher, hitting new mid-term highs.\u00a0 Today, positive sentiment on NZD will continue, but we will change the second currency in the pair. Our hero for the 5<sup>th<\/sup> of November is EURNZD.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/alpari.com\/data\/media\/cms\/images\/EURNZDDaily_5be058332e848.png\" alt=\"\" \/><\/p>\n<p>The pair has been falling sharply since the 8<sup>th<\/sup> of October. From the technical point of view, the decline is caused by the double top formation (yellow rectangle). What is more, the double top pattern, at the same time, is a false breakout formation, above the orange resistance. The combination of these two factors gave us a strong decline, which allowed the price to break the long-term upwards trend line (blue). That is a very negative sign and opens up the way to 1.655, or the lows from January and June. It is unlikely that this will be the case, and we will need a bullish correction in the meantime, but the chances of the price getting there are very high.<\/p>\n<p>Summing up, our outlook on this instrument is definitely negative, and it is likely that we will see a further drop. Entering right now is a bit too risky though, mainly because it seems that EURNZD could be oversold at the moment. In all honesty, I would prefer to wait for the bullish correction first.<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/hidden_copyright\/\" rel=\"nofollow\">EURNZD \u2013 broken supports<\/a>&#8220;<\/div>\n<\/div>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Tomasz Wisniewski, Alpari On the 29th of October, we wrote a piece about NZDCHF. In that analysis, we were bullish and that was a great call. Since our piece was published, the price has climbed more than 150 pips higher, hitting new mid-term highs.\u00a0 Today, positive sentiment on NZD will continue, but we will [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-136692","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/136692","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=136692"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/136692\/revisions"}],"predecessor-version":[{"id":136693,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/136692\/revisions\/136693"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=136692"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=136692"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=136692"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}