EUR/NZD: Sharp Rally Following NZD Inflation Expectation Release
LiveTradingRoom | Aug 07, 2017 10:32
Today EUR/NZD gapped up at the opening of the market and then traded sideways up until the publication of the New Zealand Inflation expectations (2.1% after the previous 2.2%): from there, the currency pair started to climb.
The Net Change is positive since the beginning of the semester, with a +2.89%.
The Market Pressure indicated this morning a price action confluence from the scalping to the multi-day level.
The Info Panel Market gave us a positive Volume Delta reading.
The Power Strength gave us EUR 100% bullish / NZD 100% bearish.
The Target Geometry provided the buy signal at 1.5920: the market rallied 113 pips from the entry point almost hitting the target of 6.
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