Skip to content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
EURNZD Trading Range

EURNZD Trading Range

Walker England, Forex Trading Instructor

Market Condition: Breakout

Target 1: 50% Range Extension 1.7046

Target 2: 100% Range Extension 1.7281

Invalidation: 1.6612

EURNZD 1Day Chart

(Created using Marketscope 2.0 Charts)

The EURNZD has advanced as much as 2938 pips from its 2015 low at 1.3881. However, over the last four trading weeks, the pair has been trading in a 469 pip range. If resistance breaks, this could create new breakout trading opportunities back in the direction of the pair’s primary daily trend. Possible targets for a breakout include a 50% extension of the trading range at 1.0746 and a 100% extension at 1.7281.

Alternatively if prices fail to breakout, this suggests the continuation of the current range bound market conditions. This would open up the possibility of prices retracing to the range support at 1.6343.

To Receive Walkers’ analysis directly via email, please SIGN UP HERE

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES