Market Watch – EURNZD Forecast 7-12th September 2014

The ECB decision to cut rates last week alleviated the pressure on some emerging markets, increasing the chances for some correction of the recent sell-off. Among the majors there is the New Zealand Dollar (NZD) that despite the recent rate hikes from its central bank was under pressure because of the falling milk prices (milk products are heavily exported from New Zealand). Given the euro weakness and the NZD necessity of a correction the EURNZD pair is likely to continue to the downside. 

Chart

However, as stated another post, the euro is likely to correct as well. This could provide the opportunity to open selling positions in the EUR/NZD pair from more convenient positions.

For Further details you can watch my latest video:

Good luck trading!!

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