As i stated in previous charts with the NZD when in a resestion the NZD will normally not hold and drop 7% leaving a possible 3% left to drop, from saying that the NZD did rise 1.89% to reach 72.020. in the process of the NZDJPY doingnthat it has formed another trend still a bullish trend but not as steep as the previous. This trade could work depending on the JPY...
PREVIOUS LOW SUPPORT = 0.65517 (HELD FROM 29/MAY/2019)
LOWEST LOW SUPPORT = 0.65332 (FROM 23/MAY/2019)
With JP Morgan Vice President Of Global currency (Paul Meggyessi) has said "that in a recession, the NZ Dollar will be the worst performing major currency". He also stated that "the New Zealand Dollar lose and average, 7%-8% of it value.
Looking at the table...
Even though the NZD is still week, it has broken through the bearish trend and has started to form a bullish trend . Even though today (30/05/2019) has shown a massive bearish movement that nocked it -0.50% - -0.56% from a bullish morning that reached upto 0.65888 (+0.30%). It has bounced of the last support @0.65517 and fallen within the bullsih trend. this could...
Even though the NZD is still week, it has broken through the bearish trend and has started to form a bullish trend. Even though today (30/05/2019) has shown a massive bearish movement that nocked it -0.50% - -0.56% from a bullish morning that reached upto 0.65888 (+0.30%). It has bounced of the last support @0.65517 and fallen within the bullsih trend. this could...
