The US dollar pushes back against the surprise jump the Kiwi saw after the RBNZ left the rates unchanged at 1.00 percent. The pair price has entered into and continues a correction to that move. A potential acceleration to the fall could take us back to 0.6350 and later 0.6330 where at the lower line of the slightly straight channel where the upwards move started.
Yesterday we expected to see the RBNZ cut rates by 0.25% however they left rates unchanged. The RBNZ also stated they don't see any need to cut rates further at the moment which will likely strengthen to NZD further. This decision saw the NZDUSD price jump and break above Monday's highs. If the price retraces to the Monday highs we could look for a long opportunity.
Expectations at time of writing, drawn from short-term rate futures, imply an 80% chance that the RBNZ cut of a -25 bps on Wednesday, with the rest of the 20% attributed to a hold. Although inflation has subsided, the softening employment situation and weak business confidence suggest that further easing is warranted, a decline in NZD and an improvement in the...
Tonight RBNZ is cutting the base rate from 1.00% to 0.75% at 1am GMT. This way it will have the same rate as RBA and BOE. Currently a strong support zone around the 1.73 area, a break lower could be used to signal a short. A bounce to the upside is also possible, though with EUR so weak it is not as probable. If the pair falls, expecting it to retest the...
Tonight RBNZ is cutting the base rate from 1.00% to 0.75% at 1am GMT. This way it will have the same rate as RBA and BOE. A good downtrend line and level 70 create resistance and a buy signal, if the level breaks. Divergence on RSI shows a double bottom formation. Target bellow level 73. Earlier entry before the break of the line is more aggressive and risky but...
Hello Viewers, this is an instant trade signal! Therefore, please have a look at the main chart for the following vital trade details: • ENTRY POINT • STOP LOSS • TAKE PROFIT • RISK TO REWARD The setup may look simple but I can assure you it is NOT. There are various in depth technical and fundamental analysis incorporated behind the execution. I would very much...
Hi traders, you may have noticed our EUR/NZD idea from a few days ago. I am glad to say that we took the trade which is now in significant profit. The triple bottom / fake breakout pattern showed to hold, pushing the price lower almost 200 pips. The apparent economic slowdown in the Eurozone didn't help either to stop the fall. Notice the triple bearish...
Hello traders, The NZDUSD has created a descending wedge signalling a potential reversal. There is a bullish divergence on the RSI signalling upside. The USD Index has also reached a sell zone - Check DXY Index The RBNZ held interest rates steady which could provide strength back into the NZD. We will look to buy from the double bottom (check weekly charts)...
Have a look at the above link for the complete analysis behind this trade execution TRADE ENTRY: GO SHORT 67.000 LEVEL OR ABOVE TRADE TYPE: SWING TRADE (SHORT) STOP LOSS: 71.1000 TAKE PROFIT: 63.000 RR: 1:1 SHALL THERE BE ANY UPDATES I SHALL PROVIDE THEM IN THIS THREAD. Cheers
The AUDNZD had been in a bullish trend since price bounced off at 1.0280 on 6th August 2019. That bullish move day followed by a massive price expansion the vary next day (230 pips!) thanks to RBNZ cutting their rates from 1.25% to 1.00%. NZD had been in a massive sell off across the board since then. Retail sentiment on NZD however, remains bullish NZD. Indeed,...
Have a look at the snapshot above. It represents the nearby support and resistance levels on monthly TF of NZDUSD. A convincing close of monthly candle below 0.64000 would likely confirm probable bearish continuation until 0.61000 where the next support lies. Looking at the main chart, there is a nice descending channel continuation! Should the monthly candle...
- Good risk-off opportunity as NZDUSD pullback after larger-than-expected rate cut by RBNZ - Kiwi to be pressured by trade war - In contrast to the RBNZ, the Fed was not as dovish as expected This week we saw the RBNZ delivering a 0.5% rate cut, 0.25% more than what the market had estimated, and said that rates might go into negative territory. The kiwi plunged...
Thanks for viewing, After last weeks unexpectedly deep 50 basis point cut by the RBNZ the NZD has lost ground against USD www.ft.com Against a back-drop of a very bullish gold/USD price this has resulted in gold breaking its 2011 all time high. I get the feeling that the a new monetary easing policy (QE4?) is around the corner from the Fed, so we are at the...
With global equities continuing to be supported by favorable liquidity conditions and little else, it was really just a matter of time before risk assets came under more pressure. The biggest red flag was flying in the bonds market, where global bonds have continued to rally sending yields sharply lower. Equities rallying strong along with bonds is not...
The RBNZ cut interest rates by 50bps as they weigh up global risks. This did come as a slight shock to the market as we were forecast to see just a 25bps rate cut. The market saw this as a negative and pushed NZDUSD prices through the key lows. We expect to see further downside here in this market and will look for short opportunities on retracements.
NZDUSD H1 With RBNZ interest rate decision coming close (August 6/7) , We should be expecting tons of volatility in NZD pairs. ============================================== What we already know: NZD is likely to cut rates given the fact that a sell off had already happened. The effects are already priced in. The interest rate however, is going to have some...
Kiwi is down sharply, corresponding with a big rally in New Zealand bonds. RBNZ surprised markets with a 50 bp rate cut that was larger than expected. Cited headwinds from slowing global growth, and Governor Orr said rate cut did not rule out further action. We expect Kiwi to fall further, so selling near pullback levels is our strategy.
Analysts at Westpac are recommending to sell NZD/USD pair at 0.6705 levels for the target price of 0.6500, while maintaining trailing a stop loss of 0.6800. Key Quotes “Rationale: We expect RBNZ to cut OCR by 25bp to 1.25% on 7 August, and signal potential for more. We expect a follow-up cut in November to 1.0%, with a risk this is delivered in September,...