The 0.76 level has been a good resistance for the NZDUSD, even though it try to break it to the upside, but it has not been able to stay above that level for long. A real break out, though, could take it to the 0.7700 level.
Yes, I agree…
A month and a half later, the pair is forming some sort of doji candle under that middle blue line…
As the pair struggles to get above it, progress seems wavering: more waiting and watching is required to
establish direction.
Hello traders! After about three months of waiting, biding my time, I see that finally the NZD/JPY has started to lose strength: see the continuation of that accumulation phase by the top line of the channel in the monthly chart I had created before, and which I have updated below:
More importantly, I have started trading the NZD/USD on my live account today again, after so much waiting, as it finally broke the 0.74 level: this gave me the confidence that the range of 0.75 - 0.77 had finally collapsed and the pair had broken the 0.75 level, as you can see from the following daily chart:
At this point, the NZD’s bearishness is driving its own theme, independently of the USD: while the latter’s bull run has slipped a little, the NZD’s bearish run has possibly resumed for good, with dairy industry jobs down, unemployment slightly up, credit card expenditure down, and the central bank (RBNZ) consistently showing dovishness. . .
Finally, this pair can be traded down again…
Happy trading!
The NZDUSD is getting closer to the 0.7300 level, which could act as a good support. A bounce to the upside from that level is possible.
NZD/JPY has me flat for now pending any break of the ten week low to the downside whereupon I will get short. As mentioned, the price range has narrowed in the last couple months.
-Adrian
If you want a strong NZD pair, actually, it is the GBP/NZD cross: in the last four weeks, it has been non-stop bullish, breaking new highs (within a recent past) and achieving nearly a 2,000-pip run:
Finally, after a fake rebound, NZD/USD is locked back below 0.74, hopefully for good (someone throw away the key!)…
[QUOTE=“PipMeHappy;700403”]Finally, after a fake rebound, NZD/USD is locked back below 0.74, hopefully for good (someone throw away the key!)…[/QUOTE]
Hi just curious what would be target for downside… I am trying to learn as much as I can?
Hi Mike…
You can set it , for example, looking at major demand levels below current price, as well as using
ATR (average true range) on the time-frame you use to set stop/profit targets…
Nothing more to it than that!
Ok
Thanks for your help!
What an impressive pair this is!
We have now achieved a run of over 2,100 pips!
Looking at the weekly chart, we are at a month and a half (six weeks) of bullishness,
with a very active daily range around three hundred pips…
However, most of this cross pair’s movement does not come from the NZD/USD’s decline,
but from the GBP/USD’s bear trend correction (or reversal in the making, depending on
your analysis), as you can see in the following screenshot of the GBP/NZD weekly chart,
showing a price overlay (blue line) for the GBP/USD, and a secondary chart (in the lower
half of the screen) with the NZD/USD price action:
As you may see from the pink encircled areas to the right of the chart, the massive rise
in GBP/NZD is paralleled by the rise in the GBP/USD (blue line price overlay); however,
the lower half of the chart shows that in the equivalent period, NZD/USD has not had
a perfectly inverse correlation to GBP/NZD, and although it has moved lower, it has
taken much longer to break through recent levels (0.75 being the most difficult to break).
In the end, what matters to us is to gauge whether this stronger correlation of GBP/NZD to
the Cable (=GBP/USD) will continue: what if the Pound’s sentiment should once again
deteriorate, and its bear trend resume? Could the GBP/NZD then take a hit or would it
feed on NZD/USD bearishness instead to continue higher?
Certainly, the GBP/NZD pair looks expensive at the moment, so if you have not already
benefitted from its moves it may not be too late to milk some more money out of it, but
it could be a little brave to enter at such extended phase of a six-week bull move: perhaps
it may be worth waiting for the next big event to gauge fundamental drive for the Kiwi, and
this must be the 11th June RBNZ rate decision, although there can be other events between
now and then to influence direction for the Kiwi, namely the NFPs (Non Farm Payrolls) in the
first week of June, and the usual rounds of economic data with potential for influencing policy
change within either the RBNZ, the BoE, or the Fed.
Given that the 4th June BoE rate decision is likely to see an interest rate change as a low-probability
scenario (given that the latest BoE minutes showed yet again a nine-to-zero vote in favour of no
change), we look at the RBNZ as the next mover for the Kiwi, and, subsequently, for the GBP/NZD.
Best of luck!
Hi,
After reading your posts I went long in gbpnzd yesterday, wow, 150 pips already!
Rollover and spread is high but the pips make up for it.
Thanks
Your post made me smile with secret pride!
Ah well, your trade paid off nicely 
I went long last night got 165 pips out of it today.
Two happy traders!
Make it three, thanks.
What an impressive pair… GBP/NZD continues to impress… SEVEN WEEKS TO THE UPSIDE!!!
It keeps making me money…
Just closed a trade on my live account and one on my demo account, both around 63 pips.
Good stuff…
My demo NDZ/USD short closed with about 104 pips profit ,and my live NZD/USD with about 60 pips profit.
Trading the Kiwi has been one of the best decisions this year.
Thank you, New Zealand!
An impressive week from the Pound-Kiwi…
Hey, the GBP/NZD pair is actually impressive, thinking of starting trading it. Any pointers/tips?
Hello Zaidz97!
I would be careful at this point with GBP/NZD, as it has struggled to keep hold of the 2.15 as well as the 2.14 levels…
If you look at the 1h or 4h charts for GBP/USD and NZD/USD today, you will see how they BOTH shot up almost two
hundred pips, leaving the poor GBP/NZD stuck in between, literally having nowhere to go - pulled in exactly opposite
directions, leaving it stalled.
Also, bear in mind that on the 4th of June we have the Bank of England interest rate decision, followed by the 10th of
June Royal Bank of New Zealand interest rate decision, as well as the 17th of June Federal Reserve Bank interest
rate decision, so this pause, this uncertainty after such an impressive run may be a sign that we may need to watch
the next few days with attention…
What else would you like to know?
pretty much all /USD pairs shot up today, i had a pending order on the EUR/USD and ended up getting raped by price, railing through my stop loss in under a minute,
i would say that the projection for GBP/USD is up. yesterday two big bullish gartleys triggered on aud/usd and gbp/usd at around 4pm uk time. they still have not reached their predicted retracements…