EUR/NZD Bears Are Retesting M H3 Camarilla

EUR/NZD Technical Analysis

  • Bears are retesting M H3 level
  • The market is bearish
  • Below M H3 the target is M L3
  • Selling the rallies continues

  1. Order block support
  2. Trendline swing high
  3. Bearish rejection
  4. Target

The market is still bearish. The RBNZ is happy to see high inflation and good employment. Additionally, the RBNZ has the highest cash rate among all major central banks and they will probably increase rates further. This is all bullish for the NZD. The EUR/NZD is set to drop below 1.5305 and could possibly retest 1.6130 again. Below 1.6130 we should see 1.5903 as the main target.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad

 

Published by

Nenad Kerkez

Nenad Kerkez is an analyst and trader who has been in the market since 2008 and works closely with Admiral Markets as their Senior Lecturer and Market Analyst. Nenad covers over 25 currencies on an intraday basis and has a Masters in economics. He also developed CAMMACD TM, a proprietary trading and analysis strategy wit ever powerful pre fact setups that you can read every day. Nenad is also a valuable presenter on various FX EXPO shows, where he always presents new and interesting ways how to trade price action and protect your own investments. Further, he is the co-founder and head of Elite Currensea Trading, an educational website for currency traders.