In today’s live trading session, we entered our EURNZD trade idea, and how NZDCAD is almost ready to go as well.
For a few weeks, we have been eyeing a potential short for EURNZD. After waiting and being patient, we have finally gotten entry into the trade. We believe this pair will continue to fall as the New Zealand Dollar continues its bullish trajectory. We are targeting the low we created at the start of 2020 as our final take profit level.
In addition to EURNZD, we also have NZDCAD that is priming for entry. This pair has been in an uptrend for a few weeks now and it is showing no signs of slowing down. We are looking to enter this trade once it clears this week’s high. We expect the momentum to continue as Canada reenters lockdowns to battle the pandemic.
As of right now, many of the majors such as EURUSD, AUDUSD, and GBPUSD are stuck in a range. They have yet to resume their initial trend to the upside, so we will wait until these pairs wake up again. As always, be safe and trade responsibly!
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