NZDUSD Carving a Wedge, Threatening to Return to Dominant Trend

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
448 7 10
Noise versus signal. Was the NZDUSD's rally from late September the noise or the signal. Looking at a bigger picture chart, the dominant trend looks bearish . If we break the floor of this descending channel , it will be a strong vote for the bears retaking control.
I have looked at 20 different ideas posted and you are the first to get it right!!..Bad Data from NZ shows weak performance on the NZ Dollar and the US Dollar is gaining... there is lots of data this week ..would expect it to be volatile.. Non Farm payroll.. Jobless claims.. and Draghi will speak this week as well.. if all data is good from US.. it should push NZD down and if Draghi speaks on more easing then the EUR will fall and USD will strengthen pushing this pair down further... I hope I don't sound like an idiot... of course this is all speculation.. but I still think you are on the right track.. I too think we will go lower.. thanks for your post and your thoughts and insight..
Bad NZ data and strong AUDNZD recovery should support your bearish view
Bad NZ datas and strong AUDNZD recovery should support your bearish view
I have for some time now maintained a bearish view of NZD. THANKS JK!

Looks like another leg up is coming
sedemmler JFXtrader
I am not disagreeing in principle, but based on this chart there is no reason to make that claim. I see strong resistance at .6550 where you inexplicably draw an arrow up that breaks this down channel. Any reason for that besides total speculation?
+1 Reply
JFXtrader sedemmler
It is currently in a corrective move before a continuation move upwards. This is overall a correction on the longer term downtrend found on the weekly
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