Technical on the chart.
Fundamentals:
After BOC Poloz comments. Puts the Bull back in control in this pair.
He Repeats that drop in oil prices very significant shock for Canada
He Repeats that oil price drop is front-loaded, one-time shock
Aiming for highs 1.9100s
Not for a new highs for this pair. If we get more hawkish tone from BOE that could be case but...
Looking for valid reason to be short NZD.
We had an interesting headline today :
Morgan Stanley on the Reserve Bank of New Zealand:
RBNZ's "first move to be a 25bp cut in 4Q15, as inflation expectations remain subdued and major trading partners' central banks continue to ease monetary policy"
Technicals on the chart
On a last trade that succeed to catch the previous downtrend :
We identified a Upward trend line and RSI divergence on a major pivot level acting as strong resistance to the price.
This time it's Big Round Number 1.50000 and double bottom in formation acting as support for a LONG with a possible bounce over downtrend tunnel.
Waiting for price action with...
Multiple confluences showing possible drop of pound against U.S dollar :
- Price currently on Resistance that match with Round Number 1.55 and Last swing Fibonacci 0.236
- Bear Pennant in a down trend, waiting to be broken
Waiting for reversal PA to trigger a SHORT
Currency Strenght Cross-analyze : GBP meets resistances on most of the other pairs, it confirms my...
