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NZD/USD (NZDUSD)

Pipinstinct · 12 · 6926

Pipinstinct

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on: Nov 08, 2010, 12:31 AM

Outlook for November 8-12, 2010 (2nd week of November)
NZD/USD failed to touch our expected retracement and proceeded further north going over our bullish outlook of 0.7655. (Read last week's outlook). Currently both EMA's are still pointing upwards and there high probability that by the end of the 2nd week of November this pair may be trading on the 0.8000 area. My outlook is 0.8150 and Major trend on higher timeframes are strongly bullish.


DavidApol

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Reply #1 on: Sep 25, 2013, 01:25 PM
New Zealand Dollar Versus United States Dollar

We have yet to see the largest economy in the world to bounce from the disappointing figures that have popped up over the last few weeks; not to mention the Fed’s decision to back out on tapering. However, looking forward, positive expectations are seen for the Buck. On the other hand, New Zealand has posted disappointing figures from one of its vital economic data.

To read the full recommendation, please click this link: http://metisetrade.com/index.php/research?menu=s-fundamentalreport&code=DAAP


MetisEtradePR

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Reply #2 on: Sep 12, 2014, 06:23 PM


Price movement this week is presenting another opportunity for trading within the NZDUSD triangle as the price approaches support at 0.80996.


MetisEtradePR

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Reply #3 on: Sep 18, 2014, 06:43 PM


A report regarding New Zealand’s second quarter GDP revealed that the economy grew by 0.7%, higher than the expected 0.6%. Although this is positive news for the Kiwi, it is still expected to go down given that the currency is overvalued. Especially since the Greenback is generally stronger than the Kiwi, a sell limit position is recommended.


MetisEtradePR

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Reply #4 on: Sep 26, 2014, 07:05 PM


Support and Resistance Level

From the monthly chart, the kiwi has already broken out of its consolidation as it breached previous support at 0.80942. The latter, which now serves as resistance, could still be retested, providing an opportunity for more conservative traders. A sell entry could be placed if the prices fail to break the resistance level after a test. Take profit could be near immediate support at 0.78323.

Trend Indicators

The period-100 (red line) and period-200 (blue line) simple moving averages from the hourly chart supports the downtrend in the currency, as prices are trending below the trend indicators. Resistance provided by these could be found from 0.80552 to 0.81019.

Oscillators

While relative strength index on the 4-hour chart shows the bearishness in NZDUSD, it also indicates the strong possibility of a pullback to occur as the currency is currently oversold. The RSI is currently at 25.38 and could correct to index level 40 to 50 before a continuation of the downtrend


MetisEtradePR

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Reply #5 on: Nov 17, 2014, 07:16 PM


Last Friday, US retail sales for the month of October was reported to have rebounded. Retail sales grew by 0.3%, higher than the previous month’s negative 0.3%. Most store categories showed increased sales as unemployment declines and oil prices continue to fall. Additionally, preliminary consumer sentiment was released to be at 89.4, better than the estimated 87.3. This is the highest figure in 7 years implying that US consumers have extremely positive outlook on current and future conditions of the economy. Given that the consumption sector accounts for a huge chunk of US economic activity, positive retail sales and consumer sentiment data implies that domestic demand will drive US economic growth despite the risk of a global slowdown.


MetisEtradePR

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Reply #6 on: Dec 22, 2014, 05:29 PM


Given that New Zealand is a commodity exporter, data regarding their international trade affects the Kiwi. New Zealand’s trade deficit for the month of November to be released tomorrow is projected to have dropped to 550 Million Dollars, better than the previous month’s deficit of 990 Million Dollars. The previous month’s trade deficit was worse than expected as exports of milk powder, butter and cheese to all countries fell. Although there is expectation that exports of these goods was better in November, the fall in the prices of commodities would most likely have a continued effect on New Zealand’s trade balance.


MetisEtradePR

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Reply #7 on: Jan 09, 2015, 04:57 PM


Support and Resistance Level

The NZDUSD four-month consolidation has been forming a triangle chart pattern formation. The currency pair recently tested the channel resistance of this chart pattern formation at 0.78388. A sell opportunity should be taken advantage of after the bounce from this resistance level. Profit-taking should be done before the 0.77114 support level is reached.

Trend Indicators

The 50-day (red line) and 100-day (blue line) simple moving average of the NZDUSD chart reveals that the currency pair has generally been moving in a downtrend, thus a sell position is more advisable. The simple moving average can serve as a resistance level of the downtrend.

Oscillators

The relative strength index (RSI) level of the NZDUSD four-hour chart reveals that the currency pair is nearly overbought at 63.77. A break of the 60.0 RSI level indicates a downtrend.


MetisEtradePR

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Reply #8 on: Feb 24, 2015, 04:57 PM


Support and Resistance Level

NZDUSD has generally been moving in an downtrend in a long term, in a four-hour chart the currency pair is consolidating and starting to go down and broke the support at 0.74990 level. A buy or buy limit position may be used after the pair reverses at 0.74632 and profit-taking should be done near 0.75840 level.

Trend Indicators

The 40-hour (red line) and 80-hour (blue line) simple moving average of the NZDUSD chart confirms that the currency pair is still consolidating and threatening to reverse. Both trend line the red and blue line are relatively close to one another and may intersect that changes its trend in a daily chart.

Oscillators

The relative strength index (RSI) of the NZDUSD daily chart reveals that the currency pair is neither overbought nor oversold at 41.5445.


MetisEtradePR

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Reply #9 on: Mar 30, 2015, 05:34 PM


In their last meeting, the Federal Reserve decided to keep interest rates at record low 0.25%. In the same meeting, inflation forecasts for 2015 were revealed to be revised lower. Low inflation has been one of the concerns of the Federal Reserve. These concerns will possibly be strengthened or weakened by the data on Personal Consumption Expenditure, which is the preferred inflation measure of the Fed, to be released later. The core PCE price index is expected to be at 0.1%, same as the previous month. The decline in oil prices is expected to have a positive effect on inflation in the long run given the improved purchasing power of consumers. Signal that inflation is improving will influence the Fed to increase interest rates from record low.


MetisEtradePR

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Reply #10 on: Apr 06, 2015, 05:56 PM


Support and Resistance Level

While NZDUSD remains bearish in the long-term, the currency could be seen ranging with slight bullishness in the medium-term. Taking advantage of this movement sideways is possible as the price is currently on its way to test resistance at 0.77240. Selling after a bounce from the said ceiling is recommended, with profit-taking near the support at 0.74350.

Trend Indicators

The 100-day (red line) and 200-day (blue line) simple moving averages confirm that the kiwi’s downward trend remains intact. Resistance from the slow SMA currently holds at 0.77750, while support from the recently broken 100 SMA holds at 0.75600.

Oscillators

The higher lows formed on the daily chart’s relative strength index suggests the potential of an uptick in the short-term. This would likely coincide with a test of RSI level 70. A bounce from the latter would provide confirmation to the sell signal upon a pullback from the mentioned resistance level.


MetisEtradePR

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Reply #11 on: Apr 29, 2015, 05:55 PM


The US Dollar has been generally bearish against the New Zealand Dollar for the past few months on weaker outlook in the US economic improvement. The harsh winter and the strong dollar posted negative impacts on the pace of the US economic growth. GDP data due for release tonight is expected to show that the economy slowed to 1% in the first quarter of the year, from 2.2% in the prior quarter. These data confirms that the US economy will most likely increase benchmark interest rates in September rather than in June. Although interest rates will remain unchanged, a more hawkish conclusion to the two-day FOMC meeting tonight will possibly influence the US Dollar to appreciate given that this will restore the waning confidence in the resilience of the US economy.


 


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