Technical Overview of EUR/JPY and EUR/NZD Currency Pair

EURJPY

EUR JPY

The EUR traded lower against the JPY and closed at 122.724.

1 – Formed a Motherbar Inside bar @ D1.
2 – Broke the Quarterly Pivot to the down side.
3 – Making a series of LH and LL.
4 – Main Trend Down.

Break above 127 Extension may form a Bullish Momentum.
Break below 127 Extension may form a Bearish Momentum.

According to the Analysis, The pair is expected to find support at 122.518, and a fall through could take it to the next support level of 122.311. The pair is expected to find its first resistance at 122.944, and a rise through could take it to the next resistance level of 123.163.

EUR JPY Previous Day range was 4260 and Current Day Range is 5250.

EUR NZD

EURNZD

The EUR traded higher against the NZD and closed at 1.7093.

1 – Formed a Motherbar Inside bar @ D1.
2 – Stalls at the Yearly Pivot.
3 – Making a series of HH and HL.

Break above 127 Extension may form a Bullish Momentum.
Break below 127 Extension may form a Bearish Momentum.

According to the Analysis, The pair is expected to find support at 1.70420, and a fall through could take it to the next support level of 1.69906. The pair is expected to find its first resistance at 1.71337, and a rise through could take it to the next resistance level of 1.71740.

EUR NZD Previous Day range was 91.7 and Current Day Range is 33.6.

Fundamental Events over Night

1 – The dollar held near a two-week high against its peers on Friday, supported by strong U.S. economic data and a bounce in Treasury yields.
2 – Pound falls below $1.28 as pressure builds on May to go.
3 – The Australian Dollar depreciated against the US Dollar, following the Australian Employment data set release on Thursday.

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