- FX Empire
AUD/USD and NZD/USD Fundamental Daily Forecast – Chinese Virus Fears Capping Gains
Today’s price action suggests Aussie and Kiwi investors may be afraid to take a chance holding on to long positions over the week-end due to the fear and uncertainty over the Chinese virus.
- FX Empire
AUD/USD and NZD/USD Fundamental Daily Forecast – RBA Rate Cut Off Table; Coronavirus Impact New Wildcard
The employment report is good news for Australian Dollar bulls and discouraging news for short-sellers betting on a February rate cut. Now they have to reset the clock to April or May so selling the AUD/USD on rallies may not be sound advice unless the coronavirus scare spooks investors into dumping
- FX Empire
AUD/USD and NZD/USD Fundamental Daily Forecast – Pessimism Wipes Out Trade Deal Premium
The bearish consumer confidence news is likely to keep a lid on the AUD/USD on Wednesday. If there is an intraday rally, it is likely to be driven by short-covering ahead of Thursday’s Employment Change and Unemployment Rate reports.
- FX Empire
NZD/USD Forex Technical Analysis – Minor Trend Changes to Down on Move Through .6584
Based on the early price action and the current price at .6597, the direction of the NZD/USD the rest of the session on Tuesday is likely to be determined by trader reaction to .6625.
- FX Empire
AUD/USD and NZD/USD Fundamental Weekly Forecast – Aussie Jobs Report Should Set the Tone
This week’s price action will be largely controlled in Australia by the Employment Change and Unemployment Rate reports. The results of these reports could determine whether the Reserve Bank of Australia trims their benchmark interest rate in February.
- FX Empire
NZD/USD Forex Technical Analysis – Secondary Top Indicates Selling Pressure Strengthening
Based on Friday’s close at .6611, the direction of the NZD/USD on Monday is likely to be determined by trader reaction to the minor pivot at .6625.
- FX Empire
NZD/USD Forex Technical Analysis – Momentum Shift May Lead to Test of .6671 – .6692
Based on the early price action and the current price at .6628, the direction of the NZD/USD the rest of the session on Thursday is likely to be determined by trader reaction to the intermediate Fibonacci level at .6632.
- FX Empire
NZD/USD Forex Technical Analysis – Selling Pressure Likely to Increase Under .6600 With .6567 Next Target
Based on the price action this week and the current price at .6616, the direction of the NZD/USD the rest of the session on Wednesday is likely to be determined by trader reaction to the intermediate Fibonacci level at .6632.
- FX Empire
NZD/USD Forex Technical Analysis – Trader Reaction to .6632 Sets the Tone
Based on the early price action and the current price at .6627, the direction of the NZD/USD the rest of the session on Tuesday is likely to be determined by trader reaction to the Fibonacci level at .6632.
- FX Empire
NZD/USD Forex Technical Analysis – Strengthens Over .6656, Weakens Under .6632
Based on the early price action, the direction of the NZD/USD the rest of the session on Monday is likely to be determined by trader reaction to the 50% level at .6656 and the 61.8% level at .6632.
- FX Empire
AUD/USD and NZD/USD Fundamental Weekly Forecast – Traders Betting Aussie Wildfires to Hurt Currency
For much of last week, speculators were increasingly betting that bushfires will hurt Australia’s economy. The damage is likely to run into the billions with spending and tourism expected to take a hit.
- FX Empire
NZD/USD Forex Technical Analysis – Strengthens Over .6632, Weakens Under .6618
The NZD/USD closed at .6635 on Friday, putting it on the strong side of the downtrending Gann angle. This is a sign that the buying may be greater than the selling at current price levels.
- FX Empire
AUD/USD and NZD/USD Fundamental Daily Forecast – Showing Muted Reaction to Middle East Calm
The Aussie and the Kiwi are showing only a steady response to the easing of tensions in the Middle East that dampened one potential risk to the global economy.
- FX Empire
Three Great Setups With Weaker AUD and Stronger NZD
Tension in the Middle East rises. After the attack on the American bases in Iraq, safe heavens went up again. Surprisingly, that was just temporarily as now, those gains are being wiped out almost as fast as they appeared.
- FX Empire
NZD/USD Forex Technical Analysis – Testing Short-Term Retracement Zone at .6656 to .6632
Based on the early price action and the current price at .6652, the direction of the NZD/USD is likely to be determined by trader reaction to the short-term 50% level at .6656.
- FX Empire
AUD/USD and NZD/USD Fundamental Daily Forecast – Kiwi Erases Earlier Losses to Finish Higher for Year
The NZD/USD has been particularly strong since early December after a speech by Finance Minister Grant Robertson. In his speech, he signaled a “significant” fiscal stimulus.
- FX Empire
NZD/USD Forex Technical Analysis – Rally Stalls Shortly Ahead of .6791 Main Top
The price action in the NZD/USD is expected to be a lot different once the major players return and volume reaches average or above average levels. Traders are going to start paying closer attention to economic data and interest rate differentials rather than just the optimistic headlines about potential
- FX Empire
NZD/USD Forex Technical Analysis – Strengthens Over .6734, Weakens Under .6720
Based on the early price action and the current price at .6730, the direction of the NZD/USD the rest of the session on Tuesday is likely to be determined by trader to an uptrending Gann angle at .6734 and a downtrending Gann angle at .6720.
- FX Empire
NZD/USD Forex Technical Analysis – Strengthens Over .6718, Weakens Under .6714
Based on the early price action and the current price at .6712, the direction of the NZD/USD the rest of the session on Monday is likely to be determined by trader reaction to a pair of Gann angles at .6714 to .6718.
- FX Empire
AUD/USD and NZD/USD Fundamental Weekly Forecast – Demand for Higher-Yielding, Higher-Risk Assets Providing Support
Besides increased appetite for higher-yielding, higher-risk currencies, a plunge in the U.S. Dollar also drove the Aussie and Kiwi higher. The greenback plummeted as optimism about the outlook for a U.S.-China trade deal sapped safe-haven demand for the U.S. currency.
- FX Empire
NZD/USD Forex Technical Analysis – Downtrending Gann Angle at .6722 Last Potential Resistance Before .6791 Main Top
The main range is .6791 to .6204. Its retracement zone is .6567 to .6497. This zone is support. It’s also controlling the near-term direction of the Forex pair. Holding above the upper or Fibonacci level of this zone at .6567 will help sustain the upside bias.
- FX Empire
NZD/USD Forex Technical Analysis – .6791 Next Upside Target, Weakens On Close Under .6671
Based on the early price action, the direction of the NZD/USD the rest of the session on Friday is likely to be determined by trader reaction to yesterday’s close at .6671.
- FX Empire
NZD/USD Forex Technical Analysis – Grinding Higher as Charts Show Little Resistance Until .6791
Based on the early price action, the direction of the NZD/USD on Thursday is likely to be determined by trader reaction to Wednesday’s close at .6631.
- FX Empire
NZD/USD Forex Technical Analysis – No Major Resistance Until July 19 Main Top at .6791
A trade through .6638 will signal a resumption of the uptrend on Tuesday. If this occurs then all buyers will have to worry about is a close under Monday’s settlement at .6637. This move will form a potentially bearish closing price reversal top.
- FX Empire
NZD/USD Forex Technical Analysis – Holding .6595 Could Trigger Surge into .6636
Based on Friday’s close at .6603, the direction of the NZD/USD is likely to be determined by trader reaction to the short-term pivot at .6595.
