Based on the early price action, the direction of the NZD/USD is likely to be determined by trader reaction to the downtrending Gann angle at .6652. This is the last potential resistance angle before the .6682 and .6686 main tops.
Based on last week’s close at .6588, the direction of the NZD/USD this week is likely to be determined by trader reaction to the support cluster at .6581. This is formed by a combination of an uptrending Gann angle and the short-term pivot.
On Wednesday, expect the Reserve Bank of New Zealand to leave interest rates unchanged, while reiterating its easing bias and highlighting the risks to global growth. The RBNZ could also express concerns about rate cuts in the United States and Australia since they will have an impact on the value of
Based on Friday’s price action and the close at .6588, the direction of the NZD/USD on Monday is likely to be determined by trader reaction to the short-term 50% level at .6583.
We’re not expecting too much movement ahead of the Fed’s interest rate and monetary policy decisions on Wednesday. Both the AUD/USD and NZD/USD are expected to remain under pressure because the Reserve Bank of Australia and the Reserve Bank of New Zealand are expected to cut interest rates in the near
The concern for traders is not likely whether the Fed cuts rates or not at the June meeting, but how dovish it comes across for cuts in July or September. The market has been driving Treasury yields lower due to uncertainty over trade and geopolitics, the economy has been steady to weaker. Fed policymakers
The short-term range is .6481 to .6682. Its retracement zone at .6582 to .6558 is controlling the near-term direction of the Forex pair. Trading below this zone is helping to give the NZD/USD a downside bias. This zone should be considered resistance.
Early in the week, we’ll be watching the reaction by Treasury traders to the news of the postponement of U.S. tariffs against Mexico that were supposed to start on Monday, June 10. This could ease pressure on the economy and encourage long bond investors to take profits. Since they move inverse to bond
Based on Friday’s price action and the close at .6664, the direction of the NZD/USD on Monday is likely to be determined by trader reaction to the downtrending Gann angle at .6634.
Ultimately, the direction of the AUD/USD and NZD/USD on Thursday will be determined by the direction of U.S. Treasury yields. This is because traders primarily follow the interest rate differential between U.S. Government bond yields and Australian and New Zealand Government bond yields.
The RBA is expected to cut its benchmark rate by 25 basis points to 1.25%. Traders aren’t too worried about this rate cut because it has been telegraphed for weeks. The key question is how many more rate cuts will follow.
The markets have been peppered with negative news all week, culminated with the so-called “veiled threat” by China to withhold the exportation of rare earth metals. CNBC left that story up on its webpage all day as if trying to scare investors, but the markets were resilient. There was no escalation
Based on the early price action, the direction of the NZD/USD on Thursday is likely to be determined by trader reaction to the short-term pivot at .6521.
We’re anticipating heightened volatility in both the AUD/USD and the NZD/USD as the situation developments throughout the rest of the year. We’re likely to see waves of selling related to RBA and RBNZ dovish activity, and potential waves of buying or short-covering if the U.S. economy starts to turn
The EUR/NZD has been supported above the important level. EU Parliamentary elections had no effect on EUR crosses so the focus is on the NZD fundamentals. As the EU trade balance continued to expand positively last week, we did see flash manufacturing continued to contract in Germany, along with its
The main trend is down according to the daily swing chart, however, momentum shifted to the upside following the May 23 closing price reversal bottom at .6481 and the subsequent confirmation of the chart pattern on May 24.
Traders should note that the reversals to the upside are being fueled by position-squaring and short-covering, and not a change in policy by the RBA and RBNZ. Therefore, the rally is likely to be short-lived and likely to last until investors make the necessary adjustments to the possibility of a Fed
Based on yesterday’s closing price reversal bottom and close at .6522, the direction of the NZD/USD on Friday is likely to be determined by trader reaction to yesterday’s high at .6527.
Based on the early trade, the direction of the NZD/USD the rest of the session will be determined by trader reaction to the long-term downtrending Gann angle at .6489. The main trend is down according to the daily swing chart. The nearest downside targets are the October 16, 2018 main bottom at .6465
Look for the downtrend to continue at a pace of .001 per day as long as the NZD/USD remains under this level. Crossing to the weak side of the downtrending Gann angle at .6509 will indicate the selling pressure is getting stronger. This could trigger an eventual break into .6465 and .6424.
Based on last week’s price action and the prolonged move down in terms of price and time, the direction of the NZD/USD this week is likely to be determined by trader reaction to last week’s low at .6513. Taking out .6513 then recovering last week’s close at .6514 will put the NZD/USD in a position to
Over the short-run, the AUD/USD could get a boost from the election results, but gains are likely to be limited and prices could fall further because of the weakening economy and the expected rate cut.
Sorpresa… Trump scatena timori di guerra commerciale By Peter Rosenstreich C’è preoccupazione per le sanzioni economiche USA contro Huawei e le ricadute sui negoziati commerciali. La Cina ha comunicato ...
Last week, RBA Governor Philip Lowe made it clear a further improvement in the labor market was needed to get the economy rolling again toward its full potential.