EUR NZD Forecast: Market Trends and Predictions

The EUR/NZD forecast is a crucial aspect of currency trading, and understanding the market trends and predictions can help you make informed decisions. The European Union's economic stability and the New Zealand dollar's sensitivity to commodity prices are key factors to consider.

The EUR/NZD exchange rate has been influenced by the European Central Bank's (ECB) monetary policy decisions, particularly the quantitative easing program. This has led to a decrease in the value of the euro against the New Zealand dollar.

The New Zealand dollar, on the other hand, has been affected by the country's commodity exports, particularly dairy and coal. The prices of these commodities have had a significant impact on the NZD's value against the EUR.

Worth a look: Taux De Change 100 Franc Suisse / Dollar

The EUR/NZD market is a complex and dynamic space, influenced by various factors. The ATR (Average True Range) suggests breakout potential, with a target at 1.7924 area and then to the 0.618 Fibonacci level.

We've seen a mix of bullish and bearish sentiment in the market, with some analysts expecting a continuation to the ATR target at 1.8006 and then the 1.270 Fibonacci level. However, others are looking for a break of the slope support, potentially leading to a continuation down.

The triple top formation has emerged, with a current price of 1.8087. This could indicate a bearish trend, but it's essential to watch the DXY (US Dollar Index) for direction. A strong DXY could lead to a continuation up, while a weak DXY might result in a continuation down.

In terms of fundamental analysis, the euro has faced significant challenges, with the ECB's decisions causing much debate. The euro was negatively impacted by Russia's halt to gas supplies, leading to a surge in energy prices and inflation in Europe. This has weighed on the euro, causing it to tumble against many other majors.

The New Zealand Dollar, on the other hand, is generally impacted by tourism. The currency benefits as the number of visitors increases, but since the pandemic began, tourists have fallen well below their usual numbers. This has had a negative impact on the NZD.

Here's a summary of the current market sentiment:

It's essential to stay informed and adapt to changing market conditions. By keeping an eye on the DXY and fundamental factors, you can make more informed trading decisions.

EUR/NZD is currently trading in a range, with a possible breakout potential to the ATR target at 1.7924 area.

The ATR (Average True Range) target is a key level to watch, as it suggests a continuation of the current trend. If the USDX/USD continues up, we can expect a continuation to the ATR target.

In terms of sentiment, bearish sentiment is growing, with a triple top formation emerging in the EUR/NZD chart. This could indicate a potential reversal in the trend.

Here are some key levels to watch:

The recent break above 1.7061 could be a key indicator of a continued bullish move, but it's not a guarantee.

The EUR/NZD exchange rate has been forming lower highs and lower lows since June 15, 2023, indicating a downtrend. The RSI is also in a downtrend, suggesting that the selling pressure is likely to continue.

The EUR/NZD is currently trading at 1.7535, down from its high of 1.7611 on June 15, 2023. This decline is largely due to the strengthening of the US dollar against other major currencies.

A number of factors are contributing to the pressure on the EUR/NZD exchange rate, including the slowdown in New Zealand's economic growth and the widening of the New Zealand-European Union trade deficit. These factors are weighing heavily on the currency pair.

The EUR/NZD exchange rate is expected to remain under pressure in the near term, but there are a few potential catalysts that could support the currency pair. A slowdown in the US economic growth, a trade war between the US and the European Union, or a depreciation of the euro could all help to boost the EUR/NZD.

Here are some key factors to consider when trading the EUR/NZD:

When selecting a broker for trading, it's essential to consider the features and regulations they offer. BlackBull, for example, is regulated by FSPR and offers the MT4 platform.

BlackBull was founded in 2014. AvaTrade, on the other hand, was founded in 2006 and is regulated by ASIC, FSA, FSB, and MiFID. It offers a range of platforms, including MetaTrader4 and Sirix.

AvaTrade's extensive range of platforms can be overwhelming for some traders. However, it's worth noting that between 74-89% of CFD traders lose money when trading with this provider.

Pepperstone, another top broker, offers MetaTrader 4, MetaTrader 5, and cTrader platforms. It's regulated by ASIC and the FCA, and was founded in 2010.

51% of eToro CFD traders lose money when trading with this provider. eToro is regulated by ASIC, CySEC, and the FCA, and offers its unique eToro Platform.

XM Group offers a wide range of trading platforms, including MT4 Terminal and MT5. It's regulated by ASIC, CySEC, and IFSC, and was founded in 2009, 2015, and 2017.

Here are some key features of the top brokers mentioned:

The EUR/NZD exchange rate is influenced by various factors that can impact its valuation. Several key factors come into play.

The European Central Bank and Reserve Bank of New Zealand control the supply of money in the market, which affects the economy. A dovish policy from either central bank weakens the related currency.

Economic events in Europe and New Zealand are crucial in determining exchange rates. Top economic events include GDP, Employment Change, Industrial Production, and Consumer Price Index.

Better-than-forecast data increases demand for the related currency, impacting the EUR/NZD exchange rate.

The EUR/NZD is traded in amounts denominated in the US Dollar.

Standard lot size is 100,000 units, while a mini lot size is 10,000 units.

The pip value for the EUR/NZD is calculated as $6.63 for each pip in decimals, which is 0.0001.

Here are some key stats for the EUR/NZD:

The EUR/NZD is traded in amounts denominated in the US Dollar. I've noticed that this is a common practice in the foreign exchange market.

Standard lot size for the EUR/NZD is 100,000. This is the typical amount traded by most investors.

Mini lot size for the EUR/NZD is 10,000. This smaller lot size can be beneficial for those with limited capital.

One pip in decimals for the EUR/NZD is 0.0001. This is an important metric to know when trading currencies.

The pip value for the EUR/NZD is $6.63. This value can have a significant impact on your trading decisions.

The EURNZD has a notable high of 1.7163 in 2021, and a low of 1.6063 during the same year.

Its YTD high is 1.7548, which is a significant point to note.

The currency pair's YTD low is 1.5593, and it's interesting to see how it compares to its high.

Here's a summary of the EURNZD's key stats: