FX.co ★ EUR/NZD

In the pair EUR/NZD, the current situation is similar to what has developed in the Pound/New Zealand Dollar pair. The four-hour timeframe and Envelopes are pointing to a continuation of the price decline. However, on the hourly and daily timeframe, the EUR/NZD pair is currently in the selling zone. Therefore, I believe that these two timeframes, hourly and daily, will ultimately overpower the four-hour timeframe, leading the EUR/NZD pair to only accelerate its price decline. The target for the decline is the lower boundary of the trading range according to the Envelopes on the daily timeframe, which is the support level at 1.9686. This is where I am actually expecting the price to fall from the current level of 1.9801.