EUR/NZD Signal - Mar. 25, 2013

The EUR/NZD pair confirms its entry into a downward trend with a negative MACD and below its signal. The break of the uptrend channel in which the pair has been evolving for several months should push the market to accelerate the fall to reach the 1.50 level. In this context, investors may attempt a bearish trade with a protective stop above the moving average at 20 sessions in order to stay in position in case of a pullback.
Direction: Down
Entry: 1.5540
Stop-loss: 1.5740
Take-profit: 1.5000

EURNZD Signal

Maxime Parra
Maxime Parra has been trading since the age of 18, and he is now in charge of technical and fundamental analysis at BNRY.com and Tmarkets.com. Fascinated by the psychology of financial markets and technical analysis, he is also the head of the “Fédération Sud Finance” and is preparing for the Degree of the Chartered Financial Analyst (CFA) level 1 at the SKEMA Business School. Maxime favors trend following strategies by combining chartist analysis with the use of technical indicators.