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Nzdusdforecast

NZDUSD Triangle Pattern on the daily chartLatest New Zeland macroeconomic figures are showing the economy is slowing down. Employment Change (QoQ) (Q4) 0.1% Labor Cost Index (QoQ) (Q4) 0.5% Labor Cost Index (YoY) (Q4) 2.0% Participation Rate (Q4) 70.90% Unemployment Rate (Q4) 4.3% BNZ, which is one of the most dovish central banks by stating that it will not increase any interest rates until the end of 2020, can continue to hold its dovish stance in the next week’s meeting with this data. On the other hand, the FED is still the safest haven with its USD 2.5% interest rate even though its dovish stance. Economic Calendar The most important calendar data for the pair is undoubtedly RBNZ meeting on February 13th – No policy change is expected If the negotiations between the US and China to be held on February 28th do not result in a market expectation, the market may switch to risk-off mode. This may be catalysed for new decreases in the pair. Technically: The pair broke the short term bullish trend line. We see a triangle pattern on the daily charts. The pair is likely to test the baseline of the triangle 0.66500. Breakout of the triangle will trigger the bearish move. Invalidation level of the pattern is 0.69500. Breakout Level is 0.66500 Targets will be: 0.6590 0.6550 0.6440
Short
by chartreader_pro
short at 0.6825 to target 0.67.75 =50 pipsshort nzdusd at 0.6825 to target 0.6775 =50 pips in coming day days/week,with audusd they are supported by wti oil and #china trade talks and a dovish fed but all the bad chinese PmI PPI and CPI + will finsih to be priced. If the price go more up than my entry point every 25 pips up i had 1 lot non stop losss on this trade..si toot crazy as AUDUSD is crazy too with all bad chinese data and also all bad ASutralian PMI just got good retails sale
Short
by corsicasia
NZDUSD Forecast: China hurts commodity-based currenciesChinese Data released last night does not meet the expectations: China’s industrial production growth slowed considerably in November – increasing by 5.4% yoy (compared with 5.9% in October).” China’s nominal fixed asset investment grew a little more slowly in November. China’s retail sales growth edged marginally higher in November – to 5.8% yoy (from 5.6% in October), a historically weak result The slowdown on the Chinese Economy hurt commodity-based currencies and commodity exporter countries. New Zeland and Australia are at the top of the list. RBNZ pointed out that it will keep the interest rates at low levels for a reasonable period until it reaches the target of permanent employment and inflation. On the other hand, there is FED and USD, which is expected to raise interest rates in December by over 70% possibility and is expected to put interest rates between 2.25% and 2.50%. Looking at the matter technically; After yesterday’s brief pause, the pair came under some renewed selling pressure and tumbled to sub-0.6800 level, or over two-week lows in the last hour. Technical indicators on hourly charts are already pointing to oversold conditions and thus, warrant some near-term consolidation/minor pull-back. On the weekly chart, Kiwi was unable to break above EMA 100 resistance. An inverted hammer candle indicates a strong bearish reversal. The head and shoulders pattern started to work again. Daily closings below 0.68000 would trigger the bearish move. The Targets will be: 0.6750 0.6670 0.6590 0.6550 0.6440 0.6340 and the target of the formation 0.62200 Note: Daily Closings above 0.69800 would invalidate the pattern.
Short
by chartreader_pro
NZDUSD daily review The New Zealand Dollar depreciated about 84 base points against the US Dollar on Friday. The currency pair was pressured south by the 50-hour simple moving average. However, the exchange rate bounced off from the lower boundary of an ascending channel pattern at 0.6789 during the morning hours of Monday’s trading session and currently testing a resistance level formed by the 50-hour SMA at 0.6818. If the currency exchange rate passes the 50-hour SMA, the next target will be near the upper boundary of a descending channel at 0.6864. Although, if the resistance level holds, a potential breakout could be expected within this session.
by UnknownUnicorn890690