Buynzd
NZD/USD - LONGTrade update from a previous video I posted on buying NZD/USD.
The fundamentals point towards a move to $0.75 on the exchange rate that offers a move of up to 5% appreciation in the KIWI.
Fundamentals driving the trend.
1.) Lower interest rates in the U.S no longer makes the U.S Dollar an attractive high yielding currency.
2.) $2 Trillion Fiscal stimulus package in 2021 will put further downside weakness on the U.S dollar.
3.) High growth in China is supporting Asian currencies.
NZDUSD Trendline Broken.. Waiting for retest!Good Morning Traders,
The trend line on the NZD/USD has been broken. I'm simply waiting for a retest of the trend line for a potential buy position. The RSI is currently oversold, therefore a pullback should give the RSI some room for movement.
I'll keep you all updated on this position!
Many thanks and good luck,
Ike
NZDCAD trend continuation opportunity on daily chartWatching the big picture, we are still on an uptrend on the weekly and daily time frame which makes me look for trend continuation opportunities. Currently price is at a very sweet spot while RSI approaching oversold levels. Great risk:reward if entered at market if conservative stops and targets are used as illustrated on the opened long position in the chart.
Long GBPNZDFundamentals:- The improved GDP from New Zealand last week really helped the downside in the GBP/NZD pair. Although the GDP figure was good it does not change the fact that CPI in NZ is still very low and the recent rate cut from the RBNZ brings into light the posibility of another in the next meeting. UK CPI is due out next week and expected to be better with a growth of 0.4% if the reading beats expectation we can expect to see a rally on this pair.
Technical's - From the Daily chart you can see a nice pin bar rejection from the rising trendline and buyers coming back into the market with the engulfing candle on Friday. I am looking for a slight pull back then entering long with a target of 2.2000 the previous confluence area. Stop losses should be below the currenct daily candle and incorporate some of the previous pin bar candle. Learn how to trade for free bankonadam.com
NZD/JPYThe futures market is showing a forcast of a huge increase in price over the next 12 months in the dairy prices which make up 7% of the New Zealands GDP. I am expecting to see an increase in the strength of the NZD over the coming months as it has been the weakest currrency for some time and dropped considerably against most major currencies. I am looking at the JPY as a possible becuse they are likely to add further QQE later this month which will weaken the currency. Learn how I trade for FREE boafx.com