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Wednesday, September 4, 2013

EUR/NZD TECHNICAL ARTICLE ON SEPTEMBER 4




The EUR/NZD has been showing its sequential downtrend  after achieving its two year high of 1.72712. The most volatile currency pair is the credentials for this pair and it always does the great fluctuations.   

It proves the volatility and the NZD has gained around 280 pips since this week open. The “sell” for this pair has achieved 500+ pips from the high resistance. In the meantime, the trend has faced a gap in this sell trend. 

To compensate this much “short” of this pair, the trend reversal will be occurred to regain this short. The technical indicators are providing great confident on this predicting uptrend.

 The main possibility is by the oversold condition has achieved and will be expecting a bunch of 80+ pips in favor to EURO. The second possibility is to move towards the high resistance and gain more than 400 pips.

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