Differentials Dont't LieBack about 15 days ago we had a complete change on the daily duration of the MACD, the RSI and the Change Momentum and the whole derivative of the price line chart went from negative growth to positive growth illustrated here on the 1 hr duration. I think the 5-6 week cycle people have been talking about is over and there is a new macro cycle at play here that will be more frequent and less volatile (in terms of crypto). It'll start behaving like an actual finite asset rather than a VC IPO sell off event. Lets what and see over the next few days at the price line approaches the dash vertical blue line which is a resistance and support line intersection from the 1 hour MACD analysis I did a little bit before.
Differentials
Daybreak for the Pound/New Zealand?Good morning GBP/NZD, time to rise and shine :)
My case for a strong bullish reversal on this Extremely Valuable Pair {EVP} is due to the fact that: (1) It has completed a multi-month Harmonic Wave Formation and (2) the GBP/NZD is positively correlated with FX:AUDNZD and that pair is trending very aggressively into a multi-year bullish uptrend due to both Australian Dollar strength and a weakening New Zealand Dollar.
Time to get those Buy entries in ladies and gentlemen because the Bulls are out to play! I have no clue what the impact of a "Brexit" might do to the Pound but for now I'm surely long above 2.1170 due to NZD weakness.
Around May 02, 2016 we should have a clearer picture whether price will push higher or continue in a downtrend. Remember the "Brexit" decision is on June 23rd so until then we trade what we see on the chart. Around June 27th another harmonic time interval occurs so we shall see what happens.
