Technician
Long

AUDNZD: Time to Buy , Going Against the Crowd!

FX:AUDNZD   Australian Dollar/New Zealand Dollar
610 14 10
Update:Trade Cancelled. RBNZ raises 2015 GDP growth to forecast to 3.2% vs. 2.8%. 2016 growth est. up to 2.2% vs. 2.1% previous
RBNZ says it sees inflation reaching the 2% midpoint in Q2 2014.
Head of central bank expects a 125bps of increases this year! a new tightening cycle starts
Unexpected strong revisions, and therefore I believe there is new information here. Accordingly, I cancel this trade for now.

I am looking for a bullish rebound, speculating on a potential buy the rumor sell the news event, i mean as the RBNZ is widely expected to hike rates by 25 bps             , market has been pricing in this decision for the past weeks, and i think there is limited downside for the pair following the decision. Alternatively, if the RBNZ fails to meet market expectations and surprisingly doesn't hike* rates, that would result in a major rally.

Technically, the completion of a three drive pattern supports the idea of a bullish rebound, in addition into a potential bullish divergence on RSI Momentum .

Keep stops tight and good luck

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bardhok.ajvazi
2 years ago
what a nice divergence. Thank you technician for that chart !
Reply
Technician TOP bardhok.ajvazi
2 years ago
Ur welcome, it would nicer if it works out :)
Reply
JohnTaylor
2 years ago
Great chart Technician got the same sort of veiw as you with fibo extention from top 1.0946 to 1.0735 to 1.0889 with 161.8 fib ex hit today at 1.0551 we should now see a good rally see what happens with data from NZ
Brgs jt
Reply
RBNZ raises 2015 GDP growth to forecast to 3.2% vs. 2.8%. 2016 growth est. up to 2.2% vs. 2.1% previous
RBNZ says it sees inflation reaching the 2% midpoint in Q2 2014.
Reply
Technician TOP Technician
2 years ago
Head of central bank expects a 125bps of increases this year! a new tightening cycle starts
Reply
bardhok.ajvazi Technician
2 years ago
yeshh !
Reply
This is an unexpected strong revisions, and therefore I believe there is new information here. Accordingly, I cancel this trade.
Reply
Ozayevable
2 years ago
i like it. not to mention this stupid looking gartley that got no reaction at 78.6
snapshot
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Ozayevable Ozayevable
2 years ago
and this 5-0 is still valid as long as the low holds.
snapshot
Reply
Ozayevable Ozayevable
2 years ago
that or im looking for excuses to buy this cherry.
Reply
@Technician
is it still a valid chart? i've entered at 0576
Reply
Technician TOP Flight OpsOfficer
2 years ago
Technically, the setup is still valid and may work. But am concerned about yesterday's new fundamental information. So that made me concerned, and when i am concerned i get pulled out of my comfort zone, and at the end well result in mismanaging the trade. So i prefer staying aside
Reply
Technician TOP Technician
2 years ago
Trading is a very personal activity :)
Reply
That was a missed trade.
Reply
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