EUR Tops Our Tables As The Strongest Currency
Wed 9th August 2023 : Daily Currency Strength Analysis
Today we’re looking at Trading Setups in:
- EURNZD (Primary Focus Pair)
- EURJPY (Covered In Video)
- NZDCHF (Covered In Video)
Our Interest (pending order)/Open Interest (live position)
| EURNZD Long | Price | Pips +/- | R/R (Max/Min) |
|---|---|---|---|
| Entry Price | 1.8075 | ||
| Stop Loss (Min) | |||
| Stop Loss (Max) | 1.7945 | -130 pips | |
| Profit 1 | 1.8400 | +325 pips | 1 : 2.50 |
| Profit 2 |
Risk warning: Trading carries a high degree of risk. Read more here.
A slight change from yesterday’s tables as AUD and USD falls away from the day traders table.
Instead our attention turns to EUR as this has appeared as the strongest currency on the day traders table.
NZD is the third weakest currency on the day traders tables, which could see EURNZD move higher.
Price has recently come into key weekly highs of 1.8050 and traded through it.
If price holds above this level it could continue into the next level of resistance which sits around 1.8400.
On our H1 trading time frame we can see price had fallen below the 50 moving average, however price has now traded back above it.
This could be an entry for us into this market.
Technical Observations:
- EURNZD is in a strong upward trend.
- Price has traded through key weekly highs of 1.8050.
- Price is above the daily 200 moving average.
Todays 9am (BST) Forex Strength Vs Weakness Tables:
