EURNZD: WEEKLY SCENARIO – 18 February 2022

EURNZD Technical Analysis: Weekly Chart

In the weekly charts, EURNZD is trading in an up channel.

It is trading above 20 and 50 days SMA and below 100 days SMA.

The immediate support is 1.6800 & the resistance level is at 1.7057.

EURNZD is trading in the up channel until there is a trend reversal

EURNZD Technical Analysis: Daily Chart

In the daily charts, EURNZD is trading in a down channel.

It is trading below 20 days and above 50 and 100 days SMA.

The immediate support is 1.6841 & the resistance level is 1.6957.

EURNZD is trading in the down-channel until there is a trend reversal.  

How to Trade EURNZD this Week:

EURNZD will follow the downtrend until their trend reversal. So, remain bearish on EURNZD.

TRADE SUGGESTION- SELL AT 1.6898, TAKE PROFIT AT 1.6841 AND STOP LOSS AT 1.6971