Trade Successfully
The summer lull will continue into next week as economic releases will remain sparse. However, central bank minutes and the annual gathering of central bankers at the Jackson Hole Economic Symposium should generate plenty of headlines ahead of expected policy easings in September. Trade and geopolitical tensions will also come
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NZD/USD corrects higher after plunging to a 3½-year low. NZD/USD fell aggressively and logged 180 pips early on August 7. But the latest trickle downwards lasted for nineteen days before the correction by buyers. They pushed the price up to and into a sideways structure, slightly below 0.6473, which is the 23.6%
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It will be the turn of the Reserve Bank of Australia and the Reserve Bank of New Zealand to next announce their latest policy decisions following a busy week for central banks. New Zealand will also see the release of the quarterly employment report and jobs figures are due out
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NZD/USD closes below 50-SMA, tests 0.66 level. NZD/USD finished Tuesday’s session marginally below the 50-day simple moving average (SMA), while early on Wednesday it managed to pierce the 0.66 round level as well before pulling slightly up. The fast-Stochastics hint that the downfall is overstretched and hence buying pressures could soon take place,
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NZD/USD continues selling interest; next support at the uptrend line. NZD/USD is on course for weekly losses, dropping into the Ichimoku cloud and creating a ten-day low around 0.6685. The RSI in the 4-hour chart continues to drop in the bearish area, while the red Tenkan-Sen keeps moving below the blue Kijun-Sen line, increasing chances for
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NZD/USD violates the double bottom pattern; bulls back into play. NZD/USD successfully surpassed the long-term 200-day simple moving average (SMA), gaining some ground and is holding near the three-month high of 0.6745 that it posted on Wednesday. The double bottom formation that was created around the 0.6480 – 0.6490 support levels with a neckline at
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The Reserve Bank of New Zealand (RBNZ) has clearly stated in June that further monetary easing might be needed overtime to help the central bank to meet its inflation and employment objectives. On Monday at 2245 GMT the Consumer Price Index (CPI) report is likely to show that inflation has heated up
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NZD/USD rallies near 23.6% Fibonacci; remains inside Ichimoku cloud. NZD/USD continues to rise above the short-term moving averages, remaining inside the Ichimoku cloud, stretching its upward movement near the 23.6% Fibonacci retracement level of the upward wave from 0.6487 to 0.6725. According to the MACD, positive momentum could stretch into the short-term as the indicator
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NZD/USD pulls back near 2-month highs; remains in sideways channel. NZD/USD stretched its seven-day rally to a more than two-month high of 0.6690 on Wednesday, remaining within the Ichimoku cloud. The price advanced above the bullish cross within the 20- and 40-simple moving averages (SMA) and is trying to exit from the
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As heightened trade tensions force central banks around the world to take a dovish turn, the fate of the US-China trade talks will be determined at the G20 summit in Japan. The planned meeting between US President Trump and Chinese President Xi will be the highlight of the week as
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