EUR / NZD is a slightly minor currency pair. It behaves similarly to the EUR / AUD, but tends to be slightly less volatile due to the New Zealand dollar rather than the AUD. Therefore, it is not very suitable for scalping and day trading, but rather for swing trading. It doesn’t move suddenly like a pound.
Recommended for Forex beginners to advanced users. Since extreme price movements are unlikely to occur, all funds will not disappear with one shot. Suitable for swing trading and slightly unsuitable for scalping and day trading.
Recommended trading time
The New Zealand dollar moves in Asian time and the euro moves in European time, so there is a 24-hour price movement. Trading is always recommended.
Recommended trading style
Not suitable for scalping and day trading. It is suitable when you want to take a large price range by trend following. EUR / AUD is recommended when aiming for a one-sided and big trend. It is suitable for swinging a reasonable price range.
There are so many euro indicators, as well as economic indicators such as Germany, France and Italy. There are a lot of indicators, but if you keep interest rate policy, GDP, and unemployment rate low, it will be okay for the time being.
New Zealand’s indicators are unlikely to move that much. Policy interest rates, GDP, unemployment rate and so on.
When the euro moves
The euro is the common currency of the European Union. Therefore, there are many things to see because they are influenced by many European nations. Of particular note is Germany. It has the greatest power and influence in the European Union, so it has a huge impact on the market.
When the New Zealand dollar moves
In the case of the New Zealand dollar, it is necessary to check the Australian economic indicators at the same time as the domestic economic indicators. Being a neighboring country and having many points of contact, it is greatly influenced by the situation in Australia. And because Australia depends on China’s economy and politics, so does New Zealand.