The New Zealand Dollar (NZD) is trading bearish against the Japanese Yen (JPY) at 87.386 on Friday, October 27, 2023, following comments from Japan's Chief Cabinet Secretary Taro Matsuno that the Bank of Japan (BoJ) is expected to conduct appropriate monetary policy.
Matsuno's comments come amid rising expectations that the BoJ will eventually tighten monetary...
Bearish NZDUSD in Regards to High US Bond Yields
The New Zealand dollar (NZD) has been under pressure against the US dollar (USD) in recent weeks, as the USD has been boosted by rising US bond yields. The NZDUSD pair is currently trading at 0.58100 as of 23 October 2023, down from a high of 0.62000 in early September.
There are a number of factors that are...
Bullish EURGBP in Relation to BoE's Mann Hawkish Commentary
The EURGBP currency pair is currently trading in a bullish trend, above its trendline and with a price currently at 0.86470. This bullish trend is likely due to a number of factors, including the recent hawkish commentary from BoE's Catherine Mann.
In a speech on October 10, 2023, Mann said that the BoE...
The Australian dollar (AUD) has been on a downward trajectory against the Swiss franc (CHF) since the beginning of October 2023. The AUD/CHF exchange rate has fallen from 0.60 to 0.58, representing a decline of over 3%.
There are a number of factors that have contributed to this decline. One factor is the ongoing strength of the Swiss franc. The CHF is considered...
Bullish EUR/AUD on Dovish RBA Monetary Policy Reunion
The Reserve Bank of Australia (RBA) held its latest monetary policy meeting on October 3, 2023, and decided to keep the official cash rate (OCR) at 4.10%. This was widely seen as a dovish move, as markets had been expecting a 25 basis point rate hike.
The RBA's decision was likely influenced by a number of...
Bearish CADCHF as Downbeat Crude Oil Prices Put Pressure on the Canadian Dollar
The CADCHF exchange rate is currently trading at 0.671, down from its high of 0.703 in early September. This bearish trend is likely to continue in the coming weeks and months as downbeat crude oil prices put pressure on the Canadian dollar.
Canada is a major exporter of oil, so its...
GBP/NZD bullish as RBNZ expected to hold rates, AUD pauses
The GBP/NZD currency pair is trading bullishly on Wednesday morning, as traders anticipate that the Reserve Bank of New Zealand (RBNZ) will hold interest rates unchanged at 5.5% for the third consecutive month. This comes amid signs of easing cost pressure in New Zealand, following a cumulative 525 basis...
Bearish GBPJPY as Japan's key economic ministers warn of currency intervention
Japan's key economic ministers have warned of currency market intervention, keeping investors wary of a further sell-off in the yen and weighing on the GBPJPY exchange rate.
The yen has weakened sharply against the dollar in recent months, hitting its weakest level in nearly a year...
The yellow metal is trading @ 1800 currently.
For those looking to go long,they should do so only if the H4 stochastic line is above the signal line.
Price may face resistance at around 1813 1821 1830 or 1843
For those looking to go short,one should wait for H4 stocashtic line to cross below the signal line.
Price might find support at around 1795 1782 1771 or 1750
AUD has been trending downwards over the past couple of days
Its trading around the 0.70200
If the H4 stochastic mainline remains above the signal line,price might face resistance at 0.708 0.712 0.72817
If the H4 stochastic mainline remains below the signal line,price may find support at 0.697 0.694 0.683 0.6112
The NZDUSD is under selling pressure since it's trading below the Daily Trendline
It continues to the downside after USD extended FED fuelled rally on Thursday
If price remains below the trendline and the stochastic line remains below the signal line in the H4 timeframe..we shall continue to take sells.
The pair however might find support at 0.655 0.650 0.648
If...
The pair is trading at around 1820 area.
Yesterday the Federal reserve said it had intentions to taper in march indicating possible downward pressure for the yellow metal.
If so it might find support @ 1810 1800 1785 and at 1780
However if price remains above the yellow trendline and trade above 1820
The pair will move upwards where it will face resistance @ 1830...
The price is below the yellow trendline on the daily chart
Price is also forming lower highs signaling a downtrend
The daily stochastic line is below the signal line
Entries and exit with H4 stochastic lines or
Blue lines=internal support and resistance
Red lines=Support and resistancr
If price remains below 1.3 zone we'll be looking to take sells because price is forming lower lows and lower highs in the lower timeframe sigalling a downtrend.
The H4 stochastic line is also below the signal line
Price has broken the daily trendline(Daily chart)
It is forming higher lows and lower lows on the H4 timeframe
If the main line remains below the signal line in H4 then the downtrend continues unless otherwise
