Make sure you have a nice soft cushion to protect the gluteus maximus. It may be a long ride.
Hahahaha :)))
Courtesy of Oanda…
This shows that, like in May 2015, we are switching
from net-long to net-short for the Kiwi overall, in
non-commercial exposure (hedge funds, speculators,
etc.)…
How much lower can the Kiwi go? Discuss… 
25th January is ‘Wellington Anniversary’…
Keep this in mind as it may keep NZD subdued…
Edit: this is not a national holiday, it seems, but a local
one.
Price is up against resistance on the downward channel on the 4 Hr. chart. I took a short position at 2.2050. I’ll see if I can make some profit before the interest rate decision on Wednesday.
Good morning traders!
After a quiet Monday, GBP/NZD has been holding back above 2.20 and the only event worth noting today is the following, at 10am GMT:
Treasury Select Committee Hearing – Financial Stability Report - Alex Brazier, Mark Carney, Clara Furse & Martin Taylor.
With the Fed and RBNZ rate decisions tomorrow, I doubt that this event will do much today…
Discretion being the better part of valor, I got out of this position at break even. I’m going to sit it out until after the NZD interest rate decision tomorrow.
I took a 120 pip profit on a GBP/AUD short earlier in the day.
[QUOTE= I took a 120 pip profit on a GBP/AUD short earlier in the day.[/QUOTE]
Short here too. Managing.
Good morning CaMike, Baz, Yohec, Eddie, and everyone else!
I watched that entire broadcast yesterday - very interesting (especially Clara Furse’s comments on algo trading regulation) - while keeping an eye on the charts: no effect on Pound pairs…
GBP/NZD has been stuck in a 200-pip range (2.19-2.21) since the start if the trading week: hopefully the double-whammy of rate decisions tonight will shove this pair out of this stall.
[QUOTE=“PipMeHappy;745304”] Good morning CaMike, Baz, Yohec, Eddie, and everyone else! I watched that entire broadcast yesterday - very interesting (especially Clara Furse’s comments on algo trading regulation) - while keeping an eye on the charts: no effect on Pound pairs… GBP/NZD has been stuck in a 200-pip range (2.19-2.21) since the start if the trading week: hopefully the double-whammy of rate decisions tonight will shove this pair out of this stall. :)[/QUOTE]
I have my eye on it.
…the RBNZ called for further depreciation and easing in 2016, which obviously spells ‘rate cuts’ and currency depreciation…
As a result, the Kiwi/USD tanked and broke back below the 0.65 level with large volume, and the GBP/NZD shot up nearly 200 pips, back above 2.21…
Happy days (unless you were long NZD)…
I just got out of a GBPNZD short at 5pm so it was a well timed exit. The daily candle is looking rather bullish now which should keep a smile on your face.
I am glad to hear it! Not enough smiling to bring the sunshine back to Alba, but I am trying my best :))
Fresh from New Zealand:
Fonterra cuts forecast payout for New Zealand farmers on sluggish demand | Agricultural Commodities | Reuters
If this does not push the Kiwi lower (or sets it up for a decline at the next available opportunity) then it will have to wait for a USD move…
My guess is that Kiwi selling will pick up pace again…
We will see…
Nothing much…
GBP/NZD attempted a break through 2.23 but failed and is currently under 2.22.
This entire week has been so TEDIOUS! Two major banks giving their no-change rate decision PLUS
a risk sentiment in the markets that seems on hold, with anything from commodities to equities
enjoying a pause from the recent tumbles…
I wish I could just fast-forward to next week in the hope that these markets stopped doodling about and got on
with some trending!!
[QUOTE=“PipMeHappy;745763”]Nothing much… GBP/NZD attempted a break through 2.23 but failed and is currently under 2.22. This entire week has been so TEDIOUS! Two major banks giving their no-change rate decision PLUS a risk sentiment in the markets that seems on hold, with anything from commodities to equities enjoying a pause from the recent tumbles… I wish I could just fast-forward to next week in the hope that these markets stopped doodling about and got on with some trending!![/QUOTE]
Looking to get long. Happy, I think we have the turn you’ve been looking for.
I hope so…
The global dairy auction on Tuesday 2nd Feb. may help the Kiwi finding some traction…
I took long positions on:
GBP/NZD long at 2.1940
GBP/AUD long at 2.0100
I took positions half my normal size because they look like they still have some downside. If they go down another 100 pips I will buy the other half position size. If they go up then I’ll just count my profits.
Do you have a single long entry that you’re just leaving open until things move significantly in your direction? Or are you managing a long term core entry that you’re working around with short term trades? The dips to 2.19 have offered nice points to add in short term entries for much of the month while the wait goes on for a trend to develop (and maybe improve on your overall core entry levels depending on when you entered it first).
Got filled at 2.19 a short while ago too. Let’s see how it works out. That level has been a good earner lately.