NZDUSD: One Final Impulse !On NZDUSD, price went into a bearish trend. One final bearish impulse is expected as we are targeting the support levels. Nothing else to mention, so wait for the trigger and Trade safe.
Best of Luck
MacroForex
Sellnzd
Sell Stop NZDCAD, if this triggers you won't losefundamental weak NZD with a strong CAD ... longer term trade, use proper risk management
I do 300-500 pips per week. Check my bio for proof.
Good reversal pattern on NZDUSD - sell angle mirrorOpen sell position on angle mirror at NZDUSD - 0.6741
SL - 0.6775
TP - 0.6665
RRR - 1:2
Sell NZDUSD from .67xxx to .64 areaSell NZDUSD
USDollar is on a temporary downtrend the second the government re-opens I expect the Dollar to come out of it's rut. They are not going to risk anyone losing food, or credit the US Government makes way too much money for that. New Zealand is powered by Milk prices, and produce which is still a limited market. Still a very good short entry as I see the price going to $.64 area.
Short NZD/USDFundamentals:- We had a crack at this one last week but it ended up just consolidating. This week we are looking to the NZ financial stability report and the NFP to bring in some much needed volatility to get this currency pair moving. Looking at the macro prudential tools that the RBNZ use to base there report I can see that the economy is static or drifting off in most area's. The biggest concern is the Credit to GDP ratio which is dragging inflation and any chance of a rate hike in the future; this translates into a weaker NZD. The estimated figures for the NFP are looking good and with the FOMC looking at a possible hike at the next meeting further downside in this currency pair can be expected.
Technicals:- The price found resistance at 6950 which was last weeks entry point but has since tested that again. A possible fake breakout caused by short selling could push the resistance level up to the 7000 level which is going to be my next entry level. Daily, 4 hour and 1 hour charts are indicating over bought so a turn down could be imminent.
Sell limit:- 7000
stop loss :- 7050
take profit:-6850
Short NZD/USDFundamentals:- We have retail sales out from NZD tonight at 11:45pm so the markets will just be open in time. Depending on the figure will depend on where we enter this trade it might be that the market even opens lower than it closed in anticipation of the data. Expecting the USD to continue strengthening into the week next week certainly against the weaker currencies.
Technicals:- Just looking for basic support and resistance on this one a push up to 6940 or 7000 would both be good sell levels.
Sell limit 6940 / 7000
stop loss 7050
take profit 6800
EUR/NZD BUYOpportunity
BUY EUR/NZD
Fundamentals
Recently Data in the Eurozone has been improving and there is much talk about when the ECB will start the process of tapering their QE program. Although inflation figures can be misleading to the untrained eye it is important to focus on what the Central Bank is Basing it's decisions on. Inflation increased by 1.3% in June a slightly lower figure than the months before but if you remove the volatile prices of energy, Alcohol and tabbaco then core inflation went up to 1.1% from 0.9% in May. These will be the figures the ECB will be making policy decisions from making the EURO A strong currency at the moment.
There are plenty of weak currencies out there to match the Euro against however a lot of them have already had a good bullish run and possible looking at consolidation. The calendar next week picks the NZD as potentially weak, albeit it might be short term it is enough to tern a profit. The GDT index came in weaker last week which is 20% of New Zealands GDP and Monday evening is to see the release of CPI q/q expected to drop from 1.0% to 0.2% which could cause a temporary sell of in the NZD.
Technicals
Their is a good level of support for this currency pair at the 15550 level which is also a 50% fibonacci retracment level from the trend reversal at 15460. This would be a good place to enter with a target at the most recent peak of 15850 and a stop loss around the 15500 level.
Trade Management
The 161.80 extension from 15550 brings us an initial take profit or stop loss move level of 15700 so we will be possibly looking to make changes at this point. If NZD CPI comes in better than expected then this trade set up will be void.
NZDJPY Short IdeaHello Traders,
Price is rising correctively, watch for another down move into the bottom trendline. Sell as much higher as you can.
Good luck!
Cheers,
Jonas
Long GBPNZDFundamentals:- The improved GDP from New Zealand last week really helped the downside in the GBP/NZD pair. Although the GDP figure was good it does not change the fact that CPI in NZ is still very low and the recent rate cut from the RBNZ brings into light the posibility of another in the next meeting. UK CPI is due out next week and expected to be better with a growth of 0.4% if the reading beats expectation we can expect to see a rally on this pair.
Technical's - From the Daily chart you can see a nice pin bar rejection from the rising trendline and buyers coming back into the market with the engulfing candle on Friday. I am looking for a slight pull back then entering long with a target of 2.2000 the previous confluence area. Stop losses should be below the currenct daily candle and incorporate some of the previous pin bar candle. Learn how to trade for free bankonadam.com
