The neckline to the double top pattern at 0.74 has once again come out on the winning side, the confluence of the daily up sloping channel and a descending one. The formation of a daily shooting star adds proximity to a hurdle.
With the weekly RSI closing in on resistance, upside is likely to remain capped.
In the short term a correction towards 0.7060 of the...
Recent rallies have been quickly sold implying NZD cannot remain at these higher levels against the dollar. November confirmed the negative momentum and after yesterdays rate further enhancing the negative outlook for weeks to come.
I have attached the previous nzdusd chart for comparison purposes, all the best with this position into the new...
The recent upward spike was quickly and decisively reversed, once again providing strong evidence of N.U's inability to maintain rallies above .730
Best of luck and congratulations to our premium members who have made the most of recent fx volatility.
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traders, i hope you are all ready for this week of firework - i will be continuing to look at carry trades as we expect some reallocation to the kiwi as investors re-consider the RNBZ outlook. Moreover while futures point toward further upside in this weeks milk auction
as many of you have seen my related idea which will be the long up til .75x levels (see...
Likes, comments and shares are much appreciated, thanks for all the support you've given me over the past few months and glad that everyone had a lovely week back with me on gbp/usd.