{"id":62270,"date":"2014-10-21T11:32:11","date_gmt":"2014-10-21T15:32:11","guid":{"rendered":"http:\/\/countingpips.com\/?p=62270"},"modified":"2014-10-21T11:36:11","modified_gmt":"2014-10-21T15:36:11","slug":"eurnzd-breaks-below-critical-support","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/10\/eurnzd-breaks-below-critical-support\/","title":{"rendered":"EUR\/NZD Breaks Below Critical Support"},"content":{"rendered":"<div id=\"inves-650020357\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">October 21, 2014<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Technical Sentiment: <strong>Bearish<\/strong><\/p>\n<p><strong>Key Takeaways<\/strong><\/p>\n<ul>\n<li>EUR\/NZD invalidated Higher Low swing configuration, turning bearish;<\/li>\n<li>Spot is currently trading below 200-SMA on 4H and Daily timeframes;<\/li>\n<li>5700 might be in play within a few days.<\/li>\n<\/ul>\n<p><em>Euro suffered a broad sell-off against a basket of currencies on Tuesday. Among other pairs, EUR\/NZD tumbled below a 2-week range, signaling more losses in the near future.<\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><strong>Technical Analysis<\/strong><\/p>\n<p>While it\u2019s still early in the day to make definitive conclusions, today\u2019s euro weakness is likely to persist, leading into a much deeper sell-off as the long term downtrends take over the markets once again. EUR\/NZD has been predominantly choppy for two weeks now, with price action stuck in a very narrow range between 1.6015 and 1.6200\/50. From a technical perspective price, stayed on the bullish side during this period, above the 200 SMA on 4H and Daily, coupled with consistent higher swing lows.<\/p>\n<p><img decoding=\"async\" src=\"http:\/\/capitaltrustmarkets.com\/wp-content\/uploads\/2014\/10\/EURNZD21stOctober.png\" alt=\"EURNZD21stOct\" \/><\/p>\n<p>Consequently, today\u2019s break is viewed as a strong bearish signal now that sellers are searching for a new lower low. While 200 SMA acts as resistance EUR\/NZD is going to aim lower. 50-Dau and 100-Day are unlikely to represent huge resistance levels. Instead, we see 1.5700 as a huge attraction point, based on previous reactions which confirmed this level as a strong pivot zone.<\/p><div id=\"inves-2589772528\" 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>Daily stochastic is heading towards oversold territory; however there\u2019s still plenty of room for this move to develop even further. Bears should watch out for possible reversals back above 1.6000. Price stabilizing in this region could trigger a prolonged period of choppy behavior.<\/p>\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","protected":false},"excerpt":{"rendered":"<p>Technical Sentiment: Bearish Key Takeaways EUR\/NZD invalidated Higher Low swing configuration, turning bearish; Spot is currently trading below 200-SMA on 4H and Daily timeframes; 5700 might be in play within a few days. Euro suffered a broad sell-off against a basket of currencies on Tuesday. Among other pairs, EUR\/NZD tumbled below a 2-week range, signaling [&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-62270","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/62270","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=62270"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/62270\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=62270"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=62270"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=62270"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}