Tag: Currency correlation

What do you do when EURUSD is bullish, and say, the EURNZD is bearish?

Yesterday I wrote about the EUR crosses, I mentioned that most of them are in a bullish condition, therefore I’m looking for long opportunities on most of them.

But what if you had one of the EUR crosses in a bearish condition? How do you deal with it?

Here is how I do it.

As you already know, most of the EUR crosses are in a bullish condition, including: the EURUSD, EURGBP, EURCAD and EURJPY.

But that’s not the case for the EURNZD, in fact, the EURNZD is actually trading in a bearish condition. Yesterday it broke through an important support level and the bearish condition was triggered. Here is the chart:

EURNZD

Currency correlation, EURNZD Analysis

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