EUR/NZD is a game of two halves

eurnzd 60 min chartAlways interesting to consider a currency pair where both have seen recent elections, and even more so when both are indecisive, and in this case the EUR/NZD makes for interesting reading. And in many ways can be considered a game of two halves, with selling of the NZD dominating overnight in Asia and the Far East, before euro bearish sentiment then prevailed taking the pair lower and back to trade around the volume point of control at 1.6310, and of course adding this price action together on the 60 minute chart then creates a doji candle of indecision – not surprising given the results with both elections failing to deliver a clear mandate.

Of the two, the NZD now looks the weaker and likely to continue trading with bearish sentiment in the medium term, if and until there is a clear outcome and resolution of the hung parliament.

By Anna Coulling

Charts from NinjaTrader

About Anna 1030 Articles
Hi – my name is Anna Coulling and I am a full time currency, commodities and equities trader. I have been involved in both trading and investing for over fifteen years and have traded many different financial instruments, from options and futures to stocks and commodities. I write and publish articles ( mostly for free ) for UK and international publications on a wide variety of financial issues, and in particular I enjoy helping others learn how to invest and trade.

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