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Kiwi

Kiwi Index Approached Support, Prepare For A Further Rise Kiwi index approached its support at 6.8796 (horizontal swing low support, 100% Fibonacci extension,50% Fibonacci retracement) where it could potentially bounce to its resistance at 6.9311(38.2% Fibonacci retracement, 61.8% Fibonacci extension, horizontal pullback resistance ). Stochastic (34, 5, 3) is approaching its support where a corresponding bounce could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Klimex
1
EURNZD tanks to 4-month lowBy Andria Pichidi - November 15, 2018 The Kiwi is doing extremely good the past month, and more precisely after the inflation release on October 16, above expectations at 0.9% in Q3 after the 0.4% q/q rise in Q2. Recently the employment gain on November 7, was well in excess of projections, while the drop in the jobless rate was contrary to projections for a tick higher, supported New Zealand Dollar further, especially due to the global uncertainty, in the political,/geopolitical or even trade front. Today meanwhile, the backdrop of mostly firmer stock markets in Asia, and a rise in US Equity index futures, were also a bullish lead for the relatively higher beta antipodean currency. Outperforming the Euro, at a time in which the Europe remains fraught with risks, as the brinkmanship between Italy and the EU in terms of the budget continues to play out, Brexit uncertainty remains and there are signs of flagging economic growth momentum in the Eurozone. EURNZD continue its strong way down and broke today 4-month low at 1.6567 . This breakout below the 1.6630 Support level, was a key move in the long term, as it represents the 38.2% Fibonacci retracement since 2017 low but also strong 6-month Support between November 2017- April 2014, before the rebound of the pair up to 1.7900 area. Therefore, as the pair moves for the 3rd consecutive week strongly to the downside, ready to complete 3 black weekly craws, simply adds to the constant deterioration in the outlook. Taking into consideration the constant declines of the price but also on momentum indicators, the pair remains strongly to the bearish outlook, without nearterm corrections signs yet. In the weekly basis, the RSI is at 35 looking to the downside, following a smooth negative slope since Octiber. MACD lines are decreasing to the downside below signal line, confirming the increase of negative bias. In the daily chart, RSI looks oversold. However, the bearish crossover of 20-day SMA to 200-day SMA, and as the MACD keeps extending to the downside, suggest that bears have the ultimate control. The break of 4-month low, opened today the doors for the 1.6235-1.6360 area , set at the latest swing lower ( November 2017) and the 50% Fibonacci retracement level. Further gains could then target the 61.8% Fib. level at 1.5830. However, as the pair remains in a sharp bearish price action, a clear reversal to the upside could only be confirmed with a move above the confluence of 50-week SMA, 20-day SMA and 23.6% Fib. level at 1.7100- 1.7170 area . This could open the doors for the continuation of the uptrend again. As mentioned, in a wider picture, the pair remains in a bearish trend, while it confirmed 5 Elliott waves movements and it currently formed a corrective wave to the downside. Daily chart: www.screencast.com Click here to access the HotForex Economic Calendar Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
Short
by HotForex
1
KIWI Too OVERVALUED Vs The USD! Will it Slump To 64 cents ?With the RBNZ already killing off the NZD by being more dovish than expected in their rate announcement yesterday, the kiwi fell against the USD overnight erasing in the process nearly 2 weeks gains!. For what many thought that the triangle has already broken to the upside just by the end of last week, it now seems it was a false breakout and rather unsurprisingly its now threatening to break the trendline of the triangle! If the break does occur, the price will aim to test the area that had been tested before in the previous swing some few months ago. 0.64000 becomes the immediate target of this potential breakout! Moreover fundamentally, the kiwi is too overvalued against the USD which is also visible in the both of their interest rates with USD having a more higher interest rate. This year the kiwi is being speculated to depreciate against the USD and this might start to happen once the trendline is broken. adding salt to the wounds, the RBNZ might even cut OCR in their nexr meeting which may very well trigger a small rally enough to dump the NZD and pile the selling pressure. The RR on this one is pretty good too (1:1.5). i am already SHORTING the NZDUSD but from the technical perspective its best to wait until the trendline breaks and retests before making an entry. this is just my analysis on this pair and its not a trading signal. shall the criteria meet i will post the trade details in the thread. cheers
Short
by FX618Analysis
Another Short Opportunity for NZDUSDWe had a successful trade of NZDUSD earlier this week. I believe this is another chance to short this pair. I'll state my reasons below. First, on the Daily TF, a 3-pin pattern was formed, but I know it's not the most perfect 3-pin formation. It gives us a reversal signal. Second, on the 4H TF, it formed mini LHs and LLs, which show a downward pressure. My stop loss is just 15 pips above the first mini LH and also above the descending trend line. My TP is the previous low as shown on the chart. I don't expect this trade to play out this week. I'm gonna hold over the weekends and we will see a result next week. Have a good weekend.
Short
by Likalong
A Close Above MONTHLY 50 EMA Could Take NZDJPY Towards 83.500 Price is currently confined in a descending channel or wedge on the weekly charts with multiple tests occurring on both sides of the channel making it more and more potent if a breakout occurs! The blue lines on the main charts represent the support and resistance levels drawn from the monthly charts and as of few weeks ago the 75.000 level was respected and now the price seems to be heading towards the next resistance that lies in the 83.000 region. For this to take place the channel on the weekly charts must be broken convincingly and most importantly the MONTHLY 50 EMA must be broken to the upside (the monthly price candle must close above the monthly 50 EMA). Have a look at the picture below for further illustrations Once all these take place and fundamentals starts to align with technical picture, we can take this pair LONG with swing trading chance towards the 83.5000 level. On the flip side, shall the trendline gets rejected again on the weekly charts, then we can take this pair SHORT (day trading chance) towards the support beneath at 74.5000 level. see the image below for the technical aspects for the SHORT trade If the wedge is broken, the daily 50 EMA must be broken too in the process for the SHORT trade to be confirmed. Once this all takes place we wait for the price to slightly retrace before making an entry Shall there be any updates i would provide them in a new thread. this just represents my personal technical analysis behind this pair.
Long
by FX618Analysis