Today we are looking at the NZDUSD.
Based on Elliott Wave theory we have seen a 5 wave structure higher followed by an A-B corrective structure.
We are now expecting a C wave lower completing the ABC corrective pattern.
Any thoughts or comments let us know!
NZD's newfound strength is artificial for the most part. Let's analyze: New Zealand's GDP report showed to be better than expected, but let's put that into perspective. In Q2, their GDP was revised down and you want to convince me that this 0.7% quarter growth is significant. The yearly GDP growth is still on a convincing downtrend. Many Banks still have the RBNZ...
Expectations at time of writing, drawn from short-term rate futures, imply an 80% chance that the RBNZ cut of a -25 bps on Wednesday, with the rest of the 20% attributed to a hold. Although inflation has subsided, the softening employment situation and weak business confidence suggest that further easing is warranted, a decline in NZD and an improvement in the...
RBNZ Expectations Survey , which featured downgraded official cash rate and inflation estimates, the Kiwi gave a fresh bearish trigger in the Asian trading session.
Real interest rate cut for the RBNZ decision this week has been boosted by this report, so it wouldn't be shocking if London session traders were to start positioning by today.
Earlier on,...
Hello Traders,
This week the RBNZ will decide if they will hold interest rates steady after they look a 50 basis point cut during their last meeting.
This shocked the market as they had forecast only a 25 basis point cut previously, therefore the NZD took a larger loss.
This week the RBNZ is expected to hold rates steady, on the other hand, the RBA is looking at...
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After last weeks unexpectedly deep 50 basis point cut by the RBNZ the NZD has lost ground against USD www.ft.com Against a back-drop of a very bullish gold/USD price this has resulted in gold breaking its 2011 all time high.
I get the feeling that the a new monetary easing policy (QE4?) is around the corner from the Fed, so we are at the...
No rate cut tomorrow folks .
Hit the spike and get out ,similar to the AUD rate hold news .
Hold position for 7 minutes tops then get out if it looks to go beyond spike then go back in risking half the profit you accumulated and with a smaller lot size and see where it takes you .
...
No rate cut tomorrow folks .
Trade the spike and get out 7 min top . Could be similar to AUD rate hold .
If it runs more than first 15 min candle could go back in risking half the profit you already made with smaller lot size .See where it goes .
...
The NZDUSD has been trading between a pennant formation since December 2018.
The pair have now touched the bottom area of the pennant due to a negative Interest rate statement from the RBNZ.
This provides opportunity to BUY back up towards 0.6920.
Also as additional technicals to support the short NZD$ view:
1. On the daily and NU currently Trades close/ at to its +2 standard deviation lines, these are highly resistive.
- Assuming NU trades mean reverting +2SD means there is a 95% chance of a price reversal/ 95% of all prices should be below the +2SD channel lines (e.g. NU highly likely lower from...
