{"id":61598,"date":"2014-10-08T11:42:21","date_gmt":"2014-10-08T15:42:21","guid":{"rendered":"http:\/\/countingpips.com\/?p=61598"},"modified":"2014-10-08T13:05:55","modified_gmt":"2014-10-08T17:05:55","slug":"eurnzd-grinds-higher-targeting-1-6440","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/10\/eurnzd-grinds-higher-targeting-1-6440\/","title":{"rendered":"EUR\/NZD Grinds Higher, Targeting 1.6440"},"content":{"rendered":"<div id=\"inves-534334972\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">October 8, 2014<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Technical Sentiment: <strong>Bullish<\/strong><\/p>\n<p><strong>Key Takeaways<\/strong><\/p>\n<ul>\n<li>EUR\/NZD bounced off the 200-Day Simple Moving Average last week;<\/li>\n<li>With a Higher Low in place, buyers are back targeting the previous High;<\/li>\n<li>ECB President Draghi Speaks on Thursday, the only potentially large event in the calendar for Euro.<\/li>\n<\/ul>\n<p><em>The euro currency is still able to slowly grind higher against a basket of currencies, including the Sterling Pound, Kiwi and Canadian Dollar. Of all pairs, EUR\/NZD is the one resuming the strongest uptrend configuration after completing a technical correction. <\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><strong>Technical Analysis<\/strong><\/p>\n<p><img decoding=\"async\" src=\"http:\/\/capitaltrustmarkets.com\/wp-content\/uploads\/2014\/10\/EURNZD8thOct.png\" alt=\"EURNZD8thOct\" \/><\/p>\n<p>EUR\/NZD has been trending higher since late July, pricing Higher Highs and Highs lows on the large timeframes. After last week\u2019s correction, when price plummeted from 1.6441 down to a strong support cluster at 1.5990 (marked by the 200-Day Simple Moving Average and a perfect confluence between two Fibonacci retracement levels), buying momentum is increasing at a steady pace. EUR\/NZD is on its way to end the 4<sup>th<\/sup> consecutive positive day and the rally is most likely going to accelerate now that 1.6200 resistance level has been left behind.<\/p>\n<p>Stochastic declined from overbought territory in recent days. Now that a fresh Higher Low is in place on the 200-Day Simple Moving Average the uptrend is free to continue, at a minimum targeting the previous top at 1.6441. EUR\/NZD is currently trading around 1.6260 following a surge in late European trading \/ early U.S. trading session. While this uptrend is expected to continue from this point forward, a decline below 1.6200 should put buyers on alert as the pair might relinquish the bullish bias in favor of further consolidation between 1.60-1.62.<\/p><div id=\"inves-1461560725\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<p>*********<br \/>\nPrepared by Alex Z., Chief Currency Strategist at <a href=\"http:\/\/www.capitaltrustmarkets.com\">Capital Trust Markets<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Technical Sentiment: Bullish Key Takeaways EUR\/NZD bounced off the 200-Day Simple Moving Average last week; With a Higher Low in place, buyers are back targeting the previous High; ECB President Draghi Speaks on Thursday, the only potentially large event in the calendar for Euro. The euro currency is still able to slowly grind higher against [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-61598","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/61598","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\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=61598"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/61598\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=61598"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=61598"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=61598"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}