The New Zealand Dollar may rise in the aftermath of the RBNZ rate decision, where the central bank offered hints at a rate hike during the second half of 2022. It could capitalize particularly against the Japanese Yen, where the BoJ may remain more dovish in the long run. NZD/JPY is attempting to break above an Ascending Triangle, where confirming the breakout...
If you follow me on various social media, you know I have been long in general on the NZD. However, we have a super solid short entry here. Let's take a look. On the 4H chart, we can see a trend line that has held for a few months, since March 21st. This is a relatively solid trend line, as it has been respected 5 times. A few days ago we firmly broke that trend...
If you missed the Aussie dollars bull run, here we can milk from the overbought, trend-line resistance which is already in a correctional phase indicating a strong reversal. For entry I would use the Stochastic since it has been very accurate for reversals in this triangle. Stop loss would be above Cs relevant resistance. Good luck and follow me for more!
📌 ridethepig | NZD Market Commentary 27.01.2021 What is in play here? Buyers depriving shorts of their rewards and not allowing the breakdown ahead of Fed. Strategically speaking, this looks and smells a lot like a slingshot. The strong rejection points towards the Kiwi inflows after RBNZ let slip that rate cuts are unlikely. On the Fed side, dollar...
📌 ridethepig | AUDNZD Market Commentary 20.01.2021 This chart illustrates the remaining crumbs in AUDNZD which is worth further study. The position from the previous diagrams continues and we are set for taking the next main target at 1.089x/1.090x. Now, buyers have overcome their difficulties in development, the base is optimally protected from AUD...
Good evening traders, The NZD has been on a monster rally over the past month. Looking across multiple pairs, the NZDCAD and NZDUSD are setting up very similar scenarios. We can see a nice 5 wave structure higher with a trend line support in play. We are waiting for a breakdown from the trend line support to enter a short position on the pair, expecting an ABC...
📌 Buyers attacking and maintaining the pressure! Since the initial weakness we spotted at the lows, we have seen the birth of an impulsive leg higher: Of course this is very promising, buyers have much rather played the breakup and we got our momentum gambit! Well, for those wondering what rendered the base as valid, I would point you in the direction of...
This chart update comes after the conversation with @YIQI.... We are tracking how the following elegant defence can hold a breakup through, namely the main target in NZ 10Y Yields: For those who remember, the sweep and breakup was what we had our eye on. A move from 50bps to 100bps was very fancy! And now we have for ourselves a change of scenery! The...
There was apparently no motivation for sellers to continue the advance lower and neither does it seem pragmatic. AUD buyers are showing up once more and this looks like the prelude to an exciting momentum gambit. The trigger comes from a leap above the latent highs, it will move us forward full of energy as shorts start covering and the youthful arrogance of...
📍 My dear readers, it is clear what we are trying to achieve here.... a protection of the highs / resistance with initial targets at our centre / pivot and extension targets below at support. The control which belongs to buyers is blockaded and open to attack. It is expensive to maintain the highs; this means that the necessary pullback when energy exhausts is...
Head and shoulders with plenty momentum( entry point passed). RSI < 50 pointing downwards Stochastic overbought. Target is indicated at Fibo levels 0.236 0.382 Good luck and follow me for more.
Comparing NZ 10Y Yield with AU 10Y Yield we can see the divergence opening up. The local stories in NZ are looking a lot worse than in Australia for now, depriving the NZ 10Y Yield of completing the base formation. On the currency side, the strategic link between AUD and NZD is being threatened by AUD breaking up and flirting to complete the leg towards 1.12...
Hello, Commodity currencies are the greatest beneficiary of "unlimited" printing all around the world. GDP from NZ weak, RBNZ cautious, and the chart "says" if not here, where? Selling inside the zone 0.6730 / 80 (scaling?) Stop above 0.6820 1st target: 0.6525 Second target: 0.6375 Good luck
Today we are looking at the NZDUSD. Based on Elliott Wave theory we have seen a 5 wave structure higher followed by an A-B corrective structure. We are now expecting a C wave lower completing the ABC corrective pattern. Any thoughts or comments let us know!
So much for the round of chart updates...@ridethepig has been taking some time off this summer to prepare for a very busy September onwards. 📌 NZDJPY retrace swing is running out steam at the 69.9x / 70.0x highs. While risk remains in the background despite the political fairy-dust, the urge to park capital in the Yen has been maintained but for how much...
We have large NZD news coming up in a few hours @ 10 PM EST. Watch for a break above current consolidation range or a pull back to bottom of consolidation range. Bias direction is still upwards so I would only look to buy. Entry: Enter at breakout of consolidation range 1.7930 Enter at bottom of consolidation range 1.7723 TP 1 @ 1.7962 area TP 2 @ 1.8196...
NZDCAD sell setup. Indicators: Downwards trend and support has not yet been hit. Entry: 1. Look for a break below 0.8738 area for a sell confirmation. 2. Sell retrace at 0.8796 area. TP @ 0.8565 but I recommend taking 40-50 pip increments as you trade down. Good luck trading. Please like these free analysis so others may benefit from it. Let me know how I can...
NZD/USD at range resistance Heard that RBNZ could be dovish and price is at good R:R short area for selling back into the range BUT price looks poised for bullish breakout