Chart Artwork: Pattern Continuation Setups on EUR/NZD and EUR/AUD

Welcome to the final buying and selling day of the week!

We’re all concerning the euro at the moment as we discover the 4-hour charts of EUR/AUD and EUR/NZD.

Which setup would you quite commerce?

EUR/AUD 4-hour Forex Chart

EUR/AUD 4-hour Foreign exchange Chart

EUR/AUD is buying and selling juuust beneath the 1.4800 psychological deal with and an ascending channel assist that’s been round since April!

Extra importantly, it’s buying and selling beneath the 200 SMA lengthy sufficient for the 100 SMA to show decrease and slender the hole with the longer-term dynamic assist.

Are we taking a look at a breakout within the making?

An prolonged keep beneath the 200 SMA might result in the 100 SMA crossing beneath the 200 SMA. This might appeal to extra bears and drag EUR/AUD firmly beneath the channel that we’ve marked.

A transfer greater, alternatively, would imply that EUR bulls ain’t performed shopping for simply but.

EUR/AUD might bounce above the development line and revisit key areas of curiosity like 1.5100 or 1.5300.

EUR/NZD 4-hour Forex Chart

EUR/NZD 4-hour Foreign exchange Chart

EUR/NZD is consolidating inside what appears to be like like a falling wedge after hitting highs close to 1.6800.

What makes EUR/NZD’s present ranges extra fascinating is that it’s discovering assist on the 200 SMA on the 4-hour time-frame.

A bounce from the 200 SMA and 1.6400 psychological deal with might result in an upside breakout from the sample.

Be careful for a transfer again to 1.6550 and even the 1.6800 earlier highs.

In case you see EUR/NZD buying and selling beneath the 200 SMA, nonetheless, then gotta be able to commerce a short-term reversal.

EUR/NZD might discover assist on the 1.6300 or 1.6150 inflection factors.

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