Event Results
GlobalDairyTrade Event 154 concluded with the GDT Price Index up 1.9%
Key Results
AMF index up 6.1%, average price US$3,721/MT
Butter index up 9.0%, average price US$3,136/MT
BMP index down 6.1%, average price US$1,564/MT
Ched index up 1.1%, average price US$2,856/MT
LAC index up 6.8%, average price US$542/MT
RenCas index down 9.5%, average price US$4,541/MT
SMP index up 0.2%, average price US$1,891/MT
WMP index up 1.8%, average price US$2,304/MT
NZD/USD: slipping below 0.68, currently at 0.6775;
NZD/JPY: slipping back toward 0.82;
GBP/NZD: charging up past 2.23 and 2.24.
Nice screenshot!
That wick on today’s candle really shows support from 2.22 and the ‘200-sma factor’,
propping price back above it…
I am not sure that here support=demand, namely there is support but demand may be
weak: not enough buyers to take price higher… it just stops falling, but that is not the
same as true demand.
The countdown to the Fed rate decision is now on for the next move from the Kiwi…
No other events between now and then that can shape the future of this currency
(and that of its relationship to other pairs).
How are you positioned for this currency, Yohec?
I have a short position currently in small profit. This was from one of my signals provider. The trade is still a long way from the recommended SL or TP.
So the author’s opinion is that it could go as low as 2.1745. But in order to get there it has to break past the last line of defense at 2.2024.
I question how the author comes up with some of his numbers. He claims that the 50 week MA is located at 2.1745. On my weekly chart, the 50 SMA is located at 2.1940.
I don’t know how he drew his Fib lines. I can’t get a 0.618 Fib to land anywhere near 2.1745.
C’mon Yohec, you know journalists never let the facts get in the way of a good story
LOL. Silly me, I feel so ashamed. I withdraw my previous post.
From the sublime
to the plain R I D I C U L O U S
(Can You Tell I Am Annoyed) haha
Great trade CaMike and nicely out before the fun and games begin tonight
[B][I][U]Sorry CaMike I read your exit figure wrong. Nice trading all the same :[/U][/I][/B]
I cannot imagine you ever losing your cool. But this has been quite a free fall for GBP/NZD.
I am trying, Yohec, I am trying!!
The GBP/NZD spike in the past few minutes took out my stop in my short position for +200 pips. I’m now all out of GBP/NZD.
Sorry to hear that…
Well, at least you had a stop 
Good luck with the upcoming NZD news. I hope GBP/NZD takes a big spike upward.
Nice trendlines, Kev
Yes, after the 2.40 dam failed, AND the 2.30 one too,
I did not know what to think: would the 2.20 hold? It has,
so far, and Yohec pointed out that 2.19 is the 50-week
moving average level (weekly chart), so this zone may
be where this cork-screwing aircraft may finally regain
altitude, somehow… Are there any buyers there?
Given that both parent pairs have been stuck in
200-pip zones for weeks (Cable: 1.50-1.52;
Kiwi-USD: 0.65-0.67), what has moved this pair another
1,000 pips down? It seems to me that it has disconnected
itself from the fundamental drivers in its parent countries
and has just been deleveraging… Perhaps the ‘big money’
players found this pair too expensive; perhaps it is just
money-flow that has reversed, as longs were
booking profit and pulling out; whatever the reason,
I am still long the pair, because the path to BoE
tightening will look more probable through the
influence of the Fed’s move (they will no longer have
to fear being the first to stick their head above the
parapet).
I remain long GBP/NZD and keep my sights
on 3.00, remote as it may seem.
