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EUR/NZD Continues To Rise

Published 06/19/2013, 05:54 AM
Updated 03/09/2019, 08:30 AM

EUR/NZD continues to rise after the recent breakout of the Flag chart pattern identified by Autochartist on the 4-hour charts – as you can see from the following trade opportunity alert that I received recently for this currency pair. EUR/NZD is expected to rise toward the target level 1.6880 (point B) in the next 16 hours. This target level corresponds to the last reversal point of the upper resistance trendline of this chart pattern (point B). Autochartist sets the stop-level for this forecast at 1.6388 (point A, the bottom of this Flag). This point formed earlier – when the pair corrected up from the support zone lying between the former monthly high 1.6355 (from the end of January) as well as the 38.2% Fibonacci Retracement of the preceding upward price impulse (serving as the “flag-pole” of this Flag)
EURNZD - 1
The following daily EUR/NZD chart shows the aforementioned support levels
<span class=EUR/NZD 2" width="600" height="732">

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