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EURNZD still bullish aiming 1.7500 and above

General outlook for the pair:
  • The pair moved in the last weeks between 1.7100 and 1.7500.
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Kiwi failed to make any gains after last 2 weeks strong losses, Manufacturing Sales q/q +1.8% VS +0.7% last, Business NZ Manufacturing Index 52.0 VS last 51.2, next week focus will be on GDT Price Index, Current Account and GDP q/q.

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Pair failed to break above 1.7800, still good chance to see 1.7500-1.7600 in the near time.

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EUR performed well last week, Final CPI y/y came at 2.0% as expected, EU Flash Manufacturing PMI 53.3 VS 54.4 expected, EU Flash Services PMI 54.7 VS 54.5 expected, next week focus will be on German Ifo Business Climate, German Prelim CPI m/m, M3 Money Supply y/y and CPI Flash Estimate y/y.

in other hand,

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Kiwi performed so well last week, GDT Price Index came at -1.3% VS last -0.7% expected, Westpac Consumer Sentiment 103.5 VS last 108.6, Current Account -1.62B VS -1.23B, GDP q/q +1.0% VS +0.8% expected, next week with so important data includes ANZ Business Confidence, Official Cash Rate, RBNZ Monetary Policy Statement and RBNZ Press Conference.

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Pair failed above 1.7650 and then gave bears the chance to hit it, still expect to see pair between 1.7450 and 1.7650 in the last days of month.

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EURNZD still bullish aiming 1.7500

General outlook for the pair:
  • The pair moved in the last weeks between 1.7100 and 1.7400.
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khalidamassi avatar

After failing above 1.7400, pair still found demand around 1.7200, still need to break above or below to make a direction.

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EUR benefited last week from strong EU Manufacturing and Services data, Confidence data the best in months, next week, calendar with light data, so still expect more strength for EUR pairs.

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Pair still enjoy around top (1.7360) but still expect to consolidate around current levels for the last days of the month.

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EUR peformed mixed VS majors last week, German Ifo Business Climate 103.8 Vs 101.9 expected, German Prelim CPI m/m +0.1% as expected, German Retail Sales m/m -0.4% VS -0.1% expected and CPI Flash Estimate y/y 2.0% VS 2.1% expected, next week focus will be on German Buba President Weidmann Speaks and several Manufacturing and Services PMIS, in other hand,
Kiwi performed so worst last week, Building Consents m/m -10.3% VS -8.2%, ANZ Business Confidence -50.3 VS -44.9, next week focus will be on Overseas Trade Index q/q and GDT Price Index.

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Pair still moving up, closed week and day around top, still bullish but may calm its movement in the near term.

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EURNZD bullish and to close next month above 1.7000

General outlook for the pair:
  • The pair moved in the last weeks between 1.6550 and 1.7000.
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EUR performed well last week, Sentix Investor Confidence 12.1 VS 9.0 expected, German ZEW Economic Sentiment -24.7 VS -17.9 expected, next week focus will be on Trade Balance and Final CPI y/y, in other hand, KIWI performed worst last week, Business NZ Manufacturing Index 52.8 VS 54.4 last, next week focus will be on CPI q/q and GDT Price Index.

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Still caped by 1.7300 but still bullish with no sign of reversal till now, still bullish.

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EUR performed well but in narrow pace last week, Trade Balance +16.9B VS 17.6B, Final CPI y/y +2.0% as expected, German PPI m/m +0.3% as expected, next week focus will be on Flash Manufacturing PMI, Flash Services PMI, German Ifo Business Climate, M3 Money Supply y/y and ECB Rate and Conference, in other hand, Kiwi performed well last week, CPI q/q +0.4% VS +0.5% expected, GDT Price Index -1.7% With -5.0% month ago, next week focus will be on Trade Balance.

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Pair moved as exactly expected in the chart and closed around expected target at 1.7200, may consolidate around current levels in the near time.

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Pair still moving up and down around expected target and still expect consolidation around this level, 1.7150 still critical level  to watch this week.

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EURNZD still bearish aiming 1.6500

General outlook for the pair:
  • The pair moved in the last weeks between 1.7300 and 1.6800.
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till now seemed bottomed around 1.6600, bears should control if 1.5600 broken.

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EUR performed well last week, EU Flash Manufacturing PMI 55.0 as expected, EU Flash Services PMI 55.0 VS 53.7 expected, next week focus will be on German Ifo Business Climate, M3 Money Supply y/y and EU CPI Flash Estimate y/y, in other hand, KIWI performed worse last week, GDT Price Index -1.2% VS last -1.3%, Current Account +0.18B VS last -2.75B, GDP q/q +0.5% as expected, next week focus will be on ANZ Business Confidence and RBNZ Rate Statement (CASH RATE)

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Pair closed day and week above 1.6800, good sign for bulls.

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EUR performed well last week, German Ifo Business Climate 101.8 VS 101.9 expected, M3 Money Supply y/y 4.0% VS 3.8% expected, German Prelim CPI m/m +0.1% VS +0.2% expected, EU Economic Summit reached to immigration deal, next week focus will be on EU Manufacturing PMIS and Final Services PMI, in other hand, KIWI was the worst last week, ANZ Business Confidence -39.0 VS last -27.2,  RBNZ Rate Statement pointed to lower growth and rising trade tension as cash rate is left unchanged, next week focus will be on NZIER Business Confidence and GDT Price Index.

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Pair hit above critical 1.7000 level with no sign of relief till now, pair still strong bullish.

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EURNZD bullish above 1.7000

General outlook for the pair:
  • The pair moved in the last weeks between 1.6650 and 1.7250.
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For 2 days, 1.7000 still hold, still seen bullish from 1.7000 but any close below 1.7000 will be not good for bulls.

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EUR did not perform well last week but erased most of week losses, Sentix Investor Confidence came at 19.2 VS 21.2 expected, German Industrial Production m/m came at 1.0% VS 0.8%, next week will be on German Prelim GDP q/q, Flash GDP q/q and German ZEW Economic Sentiment, in other hand, Kiwi performed the worst last week, Inflation Expectations q/q came under expecation at 2.0% VS 2.1% expected, The RBNZ sees softer GDP growth and inflation in their last meeting, next week focus will be on GDT Price Index and Annual Budget Release.

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As expected pair still hold above 1.7000, still bullish aiming 1.7500 in the mid term view.

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EUR performed worst last week as German Prelim GDP q/q at 0.3% VS 0.4%, German ZEW Economic Sentiment came at -8.2 VS -8.0 expected, next week all focus will be on Manufacturing ans services PMIS in EU and also release of ECB Monetary Policy Meeting Accounts, in other hand, Kiwi did not perform well but recovered most week losses as GDT Price Index came at 1.9% VS -1.1% last reading, PPI Input q/q came at 0.6% VS 0.3% expected, next week focus will be on Retail Sales q/q and Trade Balance.

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failed again around 1.7300 but just above 1.7000, break above or below this range can make a direction.

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EURNZD bullish above 1.6800

General outlook for the pair:
  • The pair moved in the last weeks between 1.6800 and 1.7150.
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khalidamassi avatar

As pair below 1.6800, there is doubts that bulls can make a turn.

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EUR performed well last week, most EU data was softer last week, German ZEW came at -8.2 VS -0.8 expected, Final CPI at 1.3% VS 1.4% expected, next week focus will be on ECB meeting and press conference but be careful from PMIS data at week beginning, in other hand, Kiwi performed worst last week, and this despite of good GDT price index which came at +2.7% and good CPI q/q which came at +0.5% VS +0.4% expected, next week trade balance will be released next Friday.

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Pair gained bullish momentum again and closed day, and week around top, still bullish.

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EUR performed worst last week, PMIS data ere mixed but positive in general, German IFO was 102.1 VS 102.7 expected, but really EUR disappointed from ECB conference which gave no hint about next ECB step or details about next ECB plan, next week focus will be on German CPI and EU GDP, in other hand, Kiwi continued falling last week as Trade Balance came at -86M VS 270M expected and last month revised to +172M from +217M expected, next week focus will be on Employment change and unemployment rate.

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Failed again around 1.7250 but 1.7000 may hold and pair still bullish in the near time.

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EURNZD still bullish aiming 1.7000 and above

General outlook for the pair:
  • The pair moved in the last weeks between 1.6700 and 1.7100.
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khalidamassi avatar

range between 1.6700-1.7100 may continue next week, but selling pressure prevails.

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EUR performed mixed VS majors,  ECB Draghi did not give any new hint, CPI data still not encouraging as Final CPI Y/Y 1.1% VS 1.2% expected, next week EU PMI data and Germany ZEW indicator will be  the most effected EU news, in other hand, Kiwi performed worst VS majors as Kiwi data missed expectation, GDP q\q was +0.6% VS +0.8% expected, Business manufacturing index at 53.4 VS 54.4 expected, next week will be so important as RBNZ meeting and rate statement will be released Wednesday night.

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As expected 1.6800 hold and the pair closed day and week around top at 1.7035, still seen around 1.7200 and above.

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1.7000 still strong base for pair and still expected to make new up move in the near time.

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Still stuck around 1.7000 with limited movements there....

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EURNZD bullish and aiming to close month above 1.7000

General outlook for the pair:
  • The pair moved in the last weeks between 1.6600 and 1.7500.
  • The pair is expected to move in the next month between 1.6800 and 1.7500 as it faces clusters of daily/weekly tops and bottoms.

Pair recent direction : Range

Expected rate of the pair 1st of March, 12:00 GMT:
1.7211
Expected market sentiment: Bullish
Chart of major support (S) and resistance (R):


Weekly chart

Chart of expected scenario:

Daily chart
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khalidamassi avatar

Up and down between 1.6800 and 1.7000 but any way still above 1.6800 support and this a good sign for bulls.

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EUR performed well last week as EU data still help, German GDP still surge at +0.6%, EU flash GDP still at highest level at +0.6%, Trade balance still at highest levels and higher Eu still not affecting trade balance numbers, in other hand, KIWI still performed well as Kiwi data still so supportive, Inflation expecation at +2.1% VS +2%, Business NZ Manufacturing Index came at 55.6 VS 51.1 and all of this help Kiwi to surge.

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Pair still in 1.6800-1.7000 range and clear break still needed to make direction.

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EUR tried to holds last week gains but EU flash manufacturing and services failed to keep Eur strong as most data came below expectation, also no surprise from final EU CPI data which came at 1.3% as expected filed to fuel EUR. Next week, just take care of last month Germany and EU CPI which will mostly affect EUR, in other hand, Kiwi failed to hold last week gains despite of good GDT price index which came at 1% VS 0.4% expected and retail sales at 1.7% VS 1.4% and this due to overbought conditions for kiwi pair week ago.

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Again pair found buyers around 1.6700 and if it hold for next week then pair will broke last week high.

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EURNZD bullish above 1.6700

General outlook for the pair:
  • The pair moved in the last weeks between 1.6600 and 1.7500.
  • The pair is expected to move in the next month between 1.6700 and 1.8000 as it faces clusters of daily/weekly tops and bottoms.

Pair recent direction : Down

Expected rate of the pair 1st of February, 12:00 GMT:
1.7642
Expected market sentiment: Bullish

Chart of major support (S) and resistance (R):


Weekly chart

Chart of expected scenario:

Daily chart
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khalidamassi avatar

Still 1.6700 palyed as strong support but weekly close around bottom is so warning sign for bulls, any clear close below 1.6700 will be sell opportuinty.

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Euro performed very well last week as more good data came from EU economy, more strong EU data and finally Grand coalitions in Germany, Germany looked to work with Macron France to strengthen euro zone economy and reforms, all of this send euro to highest level in 3years, In other hand, Kiwi gained with no significant news advanced against USD last week  but mixed with others.

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Pair broke below 1.6700 and quickly found support around 1.6500 before recovery to 1.6800, next weekcritcal for the pair and 1.6700 stil the key.

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Euro performed mixed as more good data came from EU economy, more strong EU data but no clear Grand coalitions in Germany as there is opposition in SPD party which is expected to make final decision on Sunday 21/01, Germany Merkel fate at the decision of SPD, Euro will be affected, In other hand, Kiwi gained some ground as GDT price index surged 4.9% after 2.2% month ago, Kiwi still seen supported as good data from China and New Zealand keep bid in kiwi.

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Pair moved in narrow range between 1.6700 and 1.6950, any break up or down this range will open the door for clear direction.

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EURNZD still bullish aiming 1.7500 and above

General outlook for the pair:
  • The pair moved in the last weeks between 1.6100 and 1.7400.
  • The pair is expected to move in the next month between 1.7000 and 1.8000 as it faces clusters of daily/weekly tops and bottoms.

Pair recent direction : Up

Expected rate of the pair 2nd of January, 12:00 GMT:
1.7642
Expected market sentiment: Bullish

Chart of major support (S) and resistance (R):


Weekly chart

Chart of expected scenario:

Daily chart
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khalidamassi avatar

1.7000-1.7100 still strong daily support which still expected to send the pair higher towrds 1.7500 and above.

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Euro hold steady last week after some improvement of ECB projections, EU data still so solid, In other hand,Kiwi stabilized and both Newzealand and Chinese data gave a boost for the kiwi against most currencies.

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From 1.7200 to 1.6800 strong weekly bearish signal which means more losses ahead, if pair broke above 1.7100 again then it is good chance for buls again.

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Euro performed well last week as more good data came from EU economy, Catalonia Vote did not affect euro so much, ECB speakers spoke loudly last week at QE end after the last 9 month extension, In other hand,Kiwi did not move much last week, despite of strong GDP data but trade balance and GDT index missed expectation and caused pair to consolidate around 0.7000 without mean direction.

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Pair failed again at 1.7000 falling to 1.6850, this so good indication that pair still able to kick 1.6600 before retracing.

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