Yes, the housing bubble in Auckland has the RBNZ pretty worried but they do not want to address it with a rate cut…
Hello traders! In this hour of the London open, Pound-Kiwi is sub-2.25; interestingly, Lloyd’s Bank had projected these levels a year from now (Dec.2016), giving instead an optimistic 2.56 for Dec. 2015, in their September forecast:
That forecast was quite interesting, I hadn’t seen anything like that before.
There’s not much support beyond 2.2360 so let’s see how it goes.
True.
Good morning…are you still short on this pair?
It tried to break below 2.24 just now but failed as UK Services PMI came out quite positive just now…the services sector being the most important in the British economy… Demand could be strong as Pound-Kiwi may look more attractive at current levels…
Technically, I’m still bearish shorter term but position-wise, I’m flat. I can easily see price at least testing 2.2360 but I can see it being a bit choppy for a while & as I originally had 2.2500 as my TP, I just played it safe & stuck to my guns & was out there.
I’m still checking the charts & fighting the urge to trade the bounces but sometimes the hardest thing to do is sit on your hands. At this point, I’d be selling in to resistance & the upside to a bounce is unknown so I’d rather wait for a long that has some solid technical backing to it.
A good close below 2.2360 & then hopefully a retest will get me short again & long-wise, I’d maybe wait for a push up past 2.2650. I’m easily swayed if I see a good set-up though.
Just when you thought you understood currency trends, this happens…
The Euro reaction to Draghi’s press conference announcement now which said that
QE will be extended to as far as March 2017… Not only this was BULLISH for the Euro (what the f…k?)
but also for GBP/NZD… !!!
Go figure!!!
I’m guessing that I’ll be looking for buy opportunities after that move. Those bullish candles jump off the chart, I’ll need to go figure out where I think it’ll pullback to in order to get in.
Took a risky short from 2.2730 looking for 2.2610. potentially 2.2570.
That big a move isn’t sustainable so it’s got to ease back in to the range. Brave (potentially stupid) given those big bullish candles but I’m risking it. Stop at 2.2760.
I’m looking at the time of day as a contributing factor too, in the past noticed it dwindling around now & picking up again come 9’ish & pushing up overnight.
[QUOTE=“PipMeHappy;736124”]<img src=“301 Moved Permanently”/> I am seriously happy about this technical move…[/QUOTE]
Being long, I’m not surprised at your joy.
It’s a hell of a move. My eyes were on that low on the daily chart & I was hoping for the bounce. Hindsight makes me disappointed that I didn’t trade the bounce but you don’t lose money when you’re not in the market so there is a plus.
I’ll be thinking long now with 2.3050 as first target & the previous peak of 2.3600 as my second target.
Ive just re entered Long @2.26
F…k knows.
Really …the markets are all over the place…
Equities going down when they should be up (post-ECB stimulus upgrade); Euro pairs going up on no fundamental shift and without conviction; Kiwi rising on a Fed-hike-reinforcing NFP release.
Until the Fed pronounces itself there will be chaos, utter chaos, and all rulebooks must be burnt.
…If that were where the buy orders lie in wait, then let it go there…
2.46 high (August) to 2.23 low… 2,300 pips…
Impressive.
My thoughts are that we are on the CD leg of an ABCD that will get to around 2.15 over the next few months the swap is hurting on my hedged longs but it is what it is and I’m making on the shorts now.