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Showing posts with the label nzdusd

Nordea Bank forecast for 2019

Here is the currencies forecast for 2019 from nordea bank :

Nzd and aud should reverse

Both aussie and kiwi are not my favorites for trading. Although they seem easy to analyze , however both need patience and easy nerve. Both have rallied since the beginning of june , NZD/USD stalling at current level and possible reversal this week. I am short at current level 0.7220$ and my stop loss will be any daily close above 0.7220$... I am also short on aussie for a reversal from 0.7560$ area, both trades are initiated by dollar reversal and commodities reversalnas well. Dollar is turning bullish and uk election results will drive the majors to new low in june... Going long on cable will be at 1.2540-80$ area targeting 1.2730$

Nzd/usd under pressure

Technically speaking nzd/usd is under pressure after falling 300 pips from the critical resistance at 0.7380$ area. The pair has fallen to 0.7070$ area which provided mediocre support helping create a rebound to resistance area around 0.7145$ . The pair was rejected retracing back to 0.7095$ before rallying again to 0.7130$ I expect that rally to fade now and fall again to 0.7078$ area again before resuming any decline.

NZDUSD bearish below 0.7260

Kiwi reversed losses of previous two weeks and currently testing a critical resistance in the area between 0.7225-60$ . A 4h candle close above 0.7260$ will open the door to 0.7330-60$ . I prefer going short at current level 0.7235$ and adding another position at 0.7258$ . Take profit at 0.7125$ , then 0.7080$ ..I see #nzdusd heading back to 0.6950$ area and long term target 0.59$ The pair is also facing tough resistance at 0.7250$ area because of the 200 moving average on the 4h chart.

NZD/USD at critical resistance

Newzeland consumer price index is going to be released within 5 minutes. My call is for a short trade with target at 0.7095 then 0.6980 . Nz CPI is expected to be 0.1% versus 0.3% last quarter. Next resistance lies at 0.7220$ and it concides with the 200 MA