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NZDUSD Discussion

Quoting DutchTrader
I'm expecting a reversal on Kiwi pairs.
nzd/jpy & nzd/usd both at monthly tl
Very big reversal in NZD/JPY, nearly fully retraced a 2.5% dive since 5pm. Looks like the huge downspike busted the stops of a lot of Asian carry traders (one firm showed 98% net long NZD/JPY as of yesterday). I think we might've finally hit a bearish extreme. NZD/JPY also double-bottomed touching last year's August low, my alerts were blaring when that level hit, picked up some towards the low. Turnaround Wednesday?
0.7150 ?
Yesterday night our prediction

http://2.bp.blogspot.com/_nmIuQsC9b-...erver++nzd.png
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Quoting Trader KGB
Very big reversal in NZD/JPY, nearly fully retraced a 2.5% dive since 5pm. Looks like the huge downspike busted the stops of a lot of Asian carry traders (one firm showed 98% net long NZD/JPY as of yesterday). I think we might've finally hit a bearish extreme. NZD/JPY also double-bottomed touching last year's August low, my alerts were blaring when that level hit, picked up some towards the low. Turnaround Wednesday?
Yep, I'm long and not mad at all.
Patience + Humility + Study = Success
When I trade for me moust important is Entry. My Entry is intraday Pivot.In a few words, pivot point is a level in which the sentiment of traders and investors changes from bull to bear or vice versa.

Same time I looking how correalat USDwith othet USD (NZD,AUD,GBP,CHF,JPY)
http://2.bp.blogspot.com/_nmIuQsC9b-...r++nzd+usd.png
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Quoting Pirin
0.7150 ?
7200 -> 6800 -> 8000+
Hi all. We may get a juicy bullish PB on daily chart today and also 4h candle above Gann Hi Lo for first time in 12 trading days - so IMO longs could be considered again. Anyone else?
Consistency and patience is everything
Quoting Geldmeister
Hi all. We may get a juicy bullish PB on daily chart today and also 4h candle above Gann Hi Lo for first time in 12 trading days - so IMO longs could be considered again. Anyone else?

Both Nzd/Jpy and Nzd/Usd are holding at major T/L support
Patience + Humility + Study = Success
NZD/USD Intraday update
http://3.bp.blogspot.com/_nmIuQsC9b-...erver++nzd.png
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Quoting Clouds
7200 -> 6800 -> 8000+

More like 7200 -> 6100 -> 8000+
Quoting DutchTrader
Yep, I'm long and not mad at all.
Huge reversal day indeed, 4% range on NZD/JPY!
headed for 78.00 a break above 78.05 opens up 81.00 again.
Patience + Humility + Study = Success
New Zealand's July Performance of Services Index due at 22:30GMT, not listed here on the FF calendar.
bot 7070
stop 7026
target 7190
It has hit almost 7200 - do you think correction is over and we are heading south?
Quoting bye2000
bot 7070
stop 7026
target 7190
execelent call mate
could tell us what was impulse to made such call ?

Mine was EW theory.
Quoting Lenart
It has hit almost 7200 - do you think correction is over and we are heading south?
I do. The others are bullish.
@ Pirin: How come you are so certain? Long term Fibo resistance?
I am a newbie and I'd really like to learn, but I'm like: majbe resistance is here, but it could be there and so on...
I see you are bearish (down to 6100), maybe the only one at the moment since Kiwi is on a role. What makes you believe so?
I saw you were spot accurate on low at 6820, so your method seems to work.
Quoting Lenart
@ Pirin: How come you are so certain? Long term Fibo resistance?
I am a newbie and I'd really like to learn, but I'm like: majbe resistance is here, but it could be there and so on...
I see you are bearish (down to 6100), maybe the only one at the moment since Kiwi is on a role. What makes you believe so?
I saw you were spot accurate on low at 6820, so your method seems to work.
Strong weekly resistances are 7280 and 7470. If it declines, it would be from one of these levels. I am more fundamentally dependent. 6100 will only be possible if the NZ central bank continues to lower rates aggressively. Best possible scenario would be to lower the rate 0,5 % and announce further rate cuts. NZ may be already in technical recession according to government officials. The only problem for my scenario is the high inflation, approximately 4,0 %, which is unallowable for a export oriented country. What supports my forecasts is that the terms of trade are at a record level, which is devastating for the trade balance and the GDP is negative. And as for the target 6100, well it is the strongest support in the history of this pair and I don't believe that we will be able to break through it ...
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