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FxWirePro: EUR/NZD Trade Idea

Monday, April 16, 2018 9:01 AM UTC

FxWirePro Currency Strength Index for EUR/NZD: Bias Bullish

FxWirePro's Hourly EUR Spot Index was at 100.735 (Bullish)

FxWirePro's Hourly NZD Spot Index was at -76.8182 (Bearish)

Technical Analysis: Bias Bullish

- Price action has bounced off from near 200-DMA

- Stochs and RSI are on verge of rollover from oversold levels

- Price has broken above 5-DMA and has retraced above 23.6% Fib

- MACD shows fading bearish momentum

Support levels - 1.6785 (23.6% Fib), 1.6778 (5-DMA), 1.6667 (200-DMA)

Resistance levels - 1.6822 (2H 110-EMA), 1.69, 1.6920 (converged 100 and 50-DMA), 1.70

Recommendation: Good to go long above 1.6822, SL: 1.6740, TP: 1.69/ 1.6920 / 1.70

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FxWirePro: EUR/NZD Trade Idea

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