New Zealand's stock exchange halted for third day

Why NZD is strong against EUR and GBP?

I got mad since I have long orders. It should be corrected to upside after this crash

Hi Alzuraiqi,

If you have a look at GBP/NZD on D1 and additionally use the RSI as a measure of overbought / oversold you can see that the pair was very much overbought since the beginning of August, culminating @ 2,0269 at 19th, August. Hence we see weakness of the pair right now in a stable downward movement best being observed on H1 that is still continuing. Watch the bull trap between on 24th / 25th, August.

Take care, all the best to you from Germany!

Thx for feedback.
However now it's oversold. RBNZ adopts easing policy and might cut rate to negative.

I think in near term NZD will be weaken.

Did you consider what exactly you want to do? Trading fundamentals as you indicate by mentioning the RBNZ sometimes means to accept quite significant losses before you might run into profits in case you took the right decision.

Maybe there are more attractive alternatives on smaller time frames: Did you consider trading just by using all available information you can see at the chart?

All the best to you from Germany!

Just by the way: as of 1330 UTC we might be at a changing point for GBP/NZD. Looks like the pair starts to rise from 1,9854.

Yes. Forcast shows that GBP NZD will target 2.10
EuroNZD will target 1.83 and above.

This is a huge call. You need to have very deep pockets to trade that.
As far as I am concerned I am out for today because I just operate on a daytrading time scale. Went LONG @ 1.9892 and sold my position @ 1.9942. That does it for me. I do not have any clue whatsoever on a larger time scale.
But I will keep my fingers crossed for your trade. Have a nice evening at the Arabian Peninsula. See you!

Thx friend..but forcast by year end.

Do you have telgram or email. I need you on private. Thx

Hello to you, Alzuraiqi.
Sorry to answer that late to your posts but I have been off the trading desk on friday. You see, I have been completely wrong with my assumption on rising prices for GBP/NZD on thursday. On H1 we had a false breakout at the LONG side and after that the pair continued to go south. At least I could make a successful trade during the short time of rising prices but more than that - I am just clueless. I am confident in a specific succession of patterns that I need to do an investment but that is just it.
I had a few very hard years and lost almost all of my money. But I was sure that if I could find some clue what instrument, which chart, which patterns, which indicators and so on would work together for a profitable trading system then I could generate some income even in recessions. So, I spent years of my life on that (suffering & painful times). And just now I start to see the whole thing going well. Finally got a broker which to me looks ok.
Do you still think you want to get into conversation? Otherwise have a good time and try to learn everything about the different aspects of FX trading - that would be my conclusion from my own experience. I keep my fingers crossed for you.

Bye from Germany