I am bearish with the Kiwi in the immediate short term. US data looks ok, not solidly good, but not bad either - outlook in US inflation and GDP skewed by oil and cautiousness from overloading on cheap credit.
In the opinion that rate will hold at 2.5% with a bearish outlook in the short term. Unless there is a remarkable negative swing in outlook with fundamentals, inflation in particular; interest rates will be holding steady due to housing prices in NZ ( current hot political issue ) despite noncompetitive NZD in regards to trade.
Looking to enter at the minor resistance of around 0.67712 with first target at around the .382 retracement with very hopeful 2nd target above a more major support around 0.66030.
If trade triggers, will be watching very closely on price action and RSI ( does not pass 60 ). If it does not break the minor resistance at .67200 level close to RBNZ announcement ( red vertical line ), I will be closing the trade as any thing that sounds remotely like good news = bullish volatility. Because of this, I wouldn't pay any particularly attention to risk:reward ratios with this set up.
Comments welcome - share and share alike!
In the opinion that rate will hold at 2.5% with a bearish outlook in the short term. Unless there is a remarkable negative swing in outlook with fundamentals, inflation in particular; interest rates will be holding steady due to housing prices in NZ ( current hot political issue ) despite noncompetitive NZD in regards to trade.
Looking to enter at the minor resistance of around 0.67712 with first target at around the .382 retracement with very hopeful 2nd target above a more major support around 0.66030.
If trade triggers, will be watching very closely on price action and RSI ( does not pass 60 ). If it does not break the minor resistance at .67200 level close to RBNZ announcement ( red vertical line ), I will be closing the trade as any thing that sounds remotely like good news = bullish volatility. Because of this, I wouldn't pay any particularly attention to risk:reward ratios with this set up.
Comments welcome - share and share alike!
