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Breaking news

NZD gains as New Zealand Q1 GDP beats estimates, y/y growth at 2.4% versus 0.9% anticipated.

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  • $NZDUSD trying to reverse some losses from the #Fed after New Zealand Q1 GDP data overshot expectations Y/Y growth at 2.4% versus 0.9% anticipated Best print since Q3 2019 #NewZealand #NZD #RBNZ https://t.co/Wk52QFYG48 https://t.co/OAyGqHhDXt
  • 🇳🇿 GDP Growth Rate QoQ (Q1) Actual: 1.6% Expected: 0.5% Previous: -1% https://www.dailyfx.com/economic-calendar#2021-06-16
  • 🇳🇿 GDP Growth Rate YoY (Q1) Actual: 2.4% Expected: 0.9% Previous: -0.8% https://www.dailyfx.com/economic-calendar#2021-06-16
  • S&P 500, Dow Jones Analysis: Rising Long Exposure Seems Ominous With Fed Nearing. Get your market update from @ddubrovskyFX here:https://t.co/RHU2EWdGLo https://t.co/otxxsTo502
  • Bank of Canada's Macklem: - Choppiness in Q2 growth - House prices seen balancing - 2% inflation target timing unusually uncertain - BBG $USDCAD
  • The US 10-Year #Treasury yield soared on the #Fed The #bond appears to now be trading within a Descending Broadening Wedge That can at times be bullish A breakout above falling resistance could open the door to resuming the uptrend since last year https://t.co/scLY5rbZhS
  • Heads Up:🇳🇿 GDP Growth Rate QoQ (Q1) due at 22:45 GMT (15min) Expected: 0.5% Previous: -1% https://www.dailyfx.com/economic-calendar#2021-06-16
  • Heads Up:🇳🇿 GDP Growth Rate YoY (Q1) due at 22:45 GMT (15min) Expected: 0.9% Previous: -0.9% https://www.dailyfx.com/economic-calendar#2021-06-16
  • Update on #DowJones after my report on retail trader positioning We are now most net-long since May and close to late January levels Majority of clients being net-long could hint at further losses after the less-dovish #Fed Eyes on 2020 trendline https://t.co/Whj4iYD13Y https://t.co/VRah9CRmD5
  • 🇧🇷 Interest Rate Decision Actual: 4.25% Expected: 4.25% Previous: 3.5% https://www.dailyfx.com/economic-calendar#2021-06-16
EUR/GBP Long Trade Entered on Triangle Break

EUR/GBP Long Trade Entered on Triangle Break

Ilya Spivak, Head Strategist, APAC

EUR/GBP Technical Strategy: Long at 0.8546, Targeting Above 0.8648

The formation of a Triangle chart preceded a breakout higher, as expected. Buyers now aim to challenge the 23.6% Fibonacci expansion at 0.8648 and we will enter long, aiming for a break above this barrier to expose the 38.2% level at 0.8803. A stop-loss will be activated on a daily close below 0.8494.

Forex_Strategy_EURGBP_Long_Trade_Entered_on_Triangle_Break_body_Picture_5.png, EUR/GBP Long Trade Entered on Triangle Break

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

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