# EURNZD Descending Channel (Aug 15, 2016) Source: https://www.tradersway.com/resources/market-info/eurnzd-descending-channel-aug-15-2016/ Language: en Updated: 2016-08-15 Description: Explore EURNZD Descending Channel (Aug 15, 2016). EURNZD has been. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. EURNZD has been trending lower, moving inside a descending channel on its 4-hour time frame. Price is currently testing the channel resistance and might be due for a bounce or a break. The 100 SMA is above the longer-term 200 SMA, suggesting that the path of least resistance might be to the upside. However, these moving averages are currently holding as near-term resistance and might allow price to head back to the channel support at 1.5200. Stochastic is indicating overbought conditions, which also suggests that a selloff might take place. The oscillator has yet to turn lower and move down from the overbought area before showing that sellers are taking control of price action. There are no major reports lined up from the euro zone today as most banks are closed for the holiday. As for New Zealand, the Global Dairy Trade auction and release of the quarterly PPI and jobs figures are lined up for Wednesday’s Asian trading session. Analysts are expecting to see much weaker jobs growth for New Zealand in Q2, but the unemployment rate is expected to fall from 5.7% to 5.3% for the period. Producer prices could post another round of declines, fueling speculations of another interest rate cut from the RBNZ soon. ![EURNZD Descending Channel (Aug 15, 2016)] On Thursday, the ECB will release the minutes of its latest policy meeting and probably include some clues on their next easing plans. Final CPI readings are also due from the region then and downgrades could spur expectations of additional stimulus in the next ECB meeting. *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/eurnzd-descending-channel-aug-15-2016/#primary", "url": "https://www.tradersway.com/resources/market-info/eurnzd-descending-channel-aug-15-2016/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/eurnzd-descending-channel-aug-15-2016/", "headline": "EURNZD Descending Channel (Aug 15, 2016)", "inLanguage": "en", "datePublished": "2016-08-15T08:13:26+00:00", "dateModified": "2016-08-15T08:13:26+00:00", "articleSection": "Market Info", "description": "Explore EURNZD Descending Channel (Aug 15, 2016). EURNZD has been. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding.", "image": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/og-default.png" }, "author": { "@type": "Organization", "@id": "https://www.tradersway.com/#organization" }, "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": [ "Organization", "FinancialService" ], "@id": "https://www.tradersway.com/#organization", "name": "Trader's Way", "alternateName": "TradersWay", "legalName": "TW Corp LLC", "description": "Trader's Way is the trading brand of TW Corp LLC, a company registered in Anguilla under number A000001731. It provides online leveraged trading in forex, metals, energies, stock indices and cryptocurrencies through MetaTrader 4, MetaTrader 5 and cTrader, with Market execution, a 40% stop out level and a minimum initial deposit of 10 USD. The company holds no financial services licence and does not direct its services to residents of the United States or the United Kingdom.", "url": "https://www.tradersway.com", "foundingDate": "2011", "logo": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/logo-square-512.png" }, "address": { "@type": "PostalAddress", "streetAddress": "No. 9 Cassius Webster Building, Grace Complex", "postOfficeBoxNumber": "1330", "addressLocality": "The Valley", "postalCode": "AI-2640", "addressCountry": "AI" }, "contactPoint": { "@type": "ContactPoint", "contactType": "customer support", "email": "support@tradersway.com" }, "areaServed": "Worldwide, excluding the United States and the United Kingdom", "knowsAbout": [ "Foreign exchange trading", "Contracts for difference", "Leveraged trading", "Precious metals trading", "Energy commodities trading", "Stock index trading", "Cryptocurrency trading", "MetaTrader 4", "MetaTrader 5", "cTrader" ], "sameAs": [ "https://www.trustpilot.com/review/www.tradersway.com", "https://www.forexpeacearmy.com/forex-reviews/8129/tradersway-forex-brokers", "https://www.youtube.com/channel/UChRC072YJGlNNNYhg_0hZeA", "https://www.facebook.com/tradersway.forex.broker", "https://twitter.com/TradersWay", "https://www.instagram.com/traderswayforex/", "https://t.me/tw_eng" ], "identifier": { "@type": "PropertyValue", "propertyID": "Anguilla company registration number", "value": "A000001731" }, "location": { "@type": "Place", "address": { "@type": "PostalAddress", "streetAddress": "Radnicka 147", "addressLocality": "Valjevo", "postalCode": "14000", "addressCountry": "RS" } } }, { "@type": "WebSite", "@id": "https://www.tradersway.com/#website", "url": "https://www.tradersway.com", "name": "Trader's Way", "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": "BreadcrumbList", "@id": "https://www.tradersway.com/resources/market-info/eurnzd-descending-channel-aug-15-2016/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://www.tradersway.com/" }, { "@type": "ListItem", "position": 2, "name": "Resources", "item": "https://www.tradersway.com/resources/" }, { "@type": "ListItem", "position": 3, "name": "Market Info", "item": "https://www.tradersway.com/resources/market-info/" }, { "@type": "ListItem", "position": 4, "name": "EURNZD Descending Channel (Aug 15, 2016)", "item": "https://www.tradersway.com/resources/market-info/eurnzd-descending-channel-aug-15-2016/" } ] } ] } ``` ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Person", "@id": "https://www.tradersway.com/#wayne-mcdonell", "name": "Wayne McDonell", "jobTitle": "Chief FX Strategist", "description": "Chief FX Strategist at Trader's Way, trading forex publicly since 2004. His analysis has appeared in the Wall Street Journal, Bloomberg Television, Fox Business, Futures Magazine and FOREX Journal Magazine. Author of \"Strategic and Tactical Forex Trading\".", "worksFor": { "@id": "https://www.tradersway.com/#organization" }, "knowsAbout": [ "Foreign exchange market", "Technical analysis", "Fundamental analysis", "Forex trading strategy" ], "sameAs": [ "https://www.youtube.com/c/tradersway" ] }, { "@id": "https://www.tradersway.com/#organization", "employee": { "@id": "https://www.tradersway.com/#wayne-mcdonell" } } ] } ```