Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

EUR/NZD Breaks Clear Triangle Pattern

Published 10/25/2016, 04:52 AM
Updated 03/09/2019, 08:30 AM

EUR/NZD recently broke the clear triangle chart pattern which was earlier identified by Autochartist on the 4-hour charts. Autochartist rates the overall quality of this chart pattern at the 7 bar level – which is the result of the slow initial trend (3 bars), below-average uniformity (4 bars) and near-maximum clarity (9 bars). The strength of this breakout is rated at the maximum, 10-bar level – which adds to the likelihood EUR/NZD will soon reach the forecast price 1.5393.

EUR/NZD 240 Minute Chart

As can be seen from the daily EUR/NZD chart below, the bottom of this triangle formed when the pair reversed up from the powerful support zone lying between the pivotal support level 1.5100 (which has been reversing the pair from July) and the lower daily Bollinger Band®. The oversold reading on the daily stochastic indicator increases the probability that EUR/NZD will continue to rise toward the forecast price 1.5393 tomorrow.

EUR/NZD Daily Chart

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.