Fundamental changes came to confirm a potential bullish reversal, and therefore, I am looking for the bullish trend to resume.
RBA was less dovish- more hawkish in its monetary policy statment yesterday Two Main changes in the statment yesterday, compared to last month: 1) A sentence was added about employment: "growth of employment and a steady rate of unemployment over the past year. ". 2)Hints to strong AUD was omitted. Precisely: "Further depreciation seems both likely and necessary,"
Bottom line: it seems that the RBA is holding neutral for now, with no additional rate cuts on the horzion
The RBNZ on the other hand hinted in its previous assesment that further rate cuts is likely in the near future.
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Comments
FullTimeTrader
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This could be the biggest and long term rally that could last years, i just want to find a good entry point. Im expecting a deeper retracement.........
Hope we get that retracement from NZD employment numbers .
ValeriuV
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Hello, I don't intend to upset you but if it is indeed a trend that will last fot a long time ( years ) it makes little diference the entry point ; ) . You can take this as a joke as well.
Technician
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I am not going to trade this for the long term.
Technician
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As you can see my targets arent that far, can be reached within few day to few weeks.
ValeriuV
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Yes, but in my opinion another leg down to the 1.0750 ( 50% fibo of the last move up on D1 ) although unlikely is still possible.
Technician
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Well, i dont expect that. I think strong upside with shallow correction is likely. Just my view.
Cryptoelite
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Hi Technician, given all the news this week. Do you have any further thoughts on your post above?
Technician
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Hey. I am looking for a short term confirmation signal to go long.