ForceFollower
Short

NZDUSD In The Down Trend

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
The NZD is not as weak as it was a week ago, but it's lacking strength, esp             . against the AUD, CAD and USD. It has been strengthing in the recent hours and may continue to do so for some time, but not for too long, because it's starting to get overbought. The pair NZDUSD             couldn't make it to new highs, stopped twice at the gey horizontal S/R level of roughly 0.8525. So I expect at least another return to the median line (or even lower).
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Disclaimer:
There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice.
Are you still bearish? Looks like it has pierced the upper boundary.
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ForceFollower TradersClassroom
The powers have shifted. The NZD is now the strongest currency of all the majors. I can't be bearish about this pair. I have lost - all the major resistance levels failed. It is overbought though and I expect a retest of the upper median line parallel from above. But before that, a retest of the 0.87 level is also very like to occur.
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ForceFollower ForceFollower
*likely
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TradersClassroom ForceFollower
I agree with you. I was completely wrong on this pair as well. However, I'm not sure the RBNZ wants their currency to increase in value. However, the fact that they hinted at another rate increase in July leads me to believe this pair could remain bullish for a bit.
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ForceFollower TradersClassroom
I've aborted my position in this pair. I've got a hangover, as my money went to stronger hands.
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A contrary opinion: https://www.tradingfloor.com/posts/tee-up-kiwi-for-rbnz-statement-punt-805818
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The NZD has been stronger than I'd expected it to be. Let's see if it finds resistance at that sliding parallel, drawn off the prior high.
snapshot

snapshot
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delete ForceFollower
Well.. I am going short 0.85600 with SL 86.050 then.. thank you
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I wonder how much more run up we will get into the interest rate decision. I'm not sure if this movement upward is buying into the rumor of the interest rate hike, kind of building price in. I will be looking to short the closer we get and if certain levels are hit
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ForceFollower TradersClassroom
Sure, guys. It's still unclear, although seems to be bullish all the time. I agree, it's probably some kind of build-up prior to the rate hike.
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