Fundamentals:
* According to the latest GDP data released last week, New Zeland’ Anual Growth eased from 3.2% to 2.6%. Markets are forecasting a 25bp cut in the Official Cash Rate in November 2019.
** NZD is under bearish pressure as a commodity-linked currency - see attached NZDUSD Forecast for the details -
*** Yen gets demand as a safe haven.
Technically:
Our last call was a short trade based on trendline breakout and pullback. We added short at 76.30 and closed the trades with 230 pips. - see attached -
https://tradingview.sweetlogin.com/chart/NZDJPY/oOHCH5zM-NZDJPY-Minor-Correction-And-Short-Opportunity/
The main trend turned bearish from bullish. And the first main target is 73.43. My longterm target is 71.90.
Looking at the smaller chart timeframes, a Bullish Butterfly completed at 74.57 and a Bullish A Crab pattern is being printed that would be completed at 74.23.
A minor bullish correction towards 75.00 and 75.30 is predicted. We will use this potential pullback as a selling opportunity targeting 73.43.
We will send entry notifications to the members as soon as we get the clear signal.
Happy New Year !!
* According to the latest GDP data released last week, New Zeland’ Anual Growth eased from 3.2% to 2.6%. Markets are forecasting a 25bp cut in the Official Cash Rate in November 2019.
** NZD is under bearish pressure as a commodity-linked currency - see attached NZDUSD Forecast for the details -
*** Yen gets demand as a safe haven.
Technically:
Our last call was a short trade based on trendline breakout and pullback. We added short at 76.30 and closed the trades with 230 pips. - see attached -
https://tradingview.sweetlogin.com/chart/NZDJPY/oOHCH5zM-NZDJPY-Minor-Correction-And-Short-Opportunity/
The main trend turned bearish from bullish. And the first main target is 73.43. My longterm target is 71.90.
Looking at the smaller chart timeframes, a Bullish Butterfly completed at 74.57 and a Bullish A Crab pattern is being printed that would be completed at 74.23.
A minor bullish correction towards 75.00 and 75.30 is predicted. We will use this potential pullback as a selling opportunity targeting 73.43.
We will send entry notifications to the members as soon as we get the clear signal.
Happy New Year !!
Discord Channel : discord.gg/Ku9kzfq
Cycle Sniper Indicator: mql5.com/en/market/product/51950
Cycle Sniper Indicator: mql5.com/en/market/product/51950
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Discord Channel : discord.gg/Ku9kzfq
Cycle Sniper Indicator: mql5.com/en/market/product/51950
Cycle Sniper Indicator: mql5.com/en/market/product/51950
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.