Friday 25 January 2019
Yesterday’s NZD against the USD rallied but pared back losses relatively quickly. That said, the higher low especially on intra-day remains intact inviting buyers as well as the daily 50 EMA support is still present.
The calendar is light for today but we could see unexpected volatility without clear signals. These are not recommended to trade if confirmation signals in form of candle and price patterns are missing.
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Thursday 24 January 2019
After yesterdays NZD momentum, todays calendar focuses on the EUR including PMI data, interest rate and Press Conference, needless to say the EUR could be hectic. However, given the current EURNZD price action, the current retrace provides a great re entry to the downside. Meanwhile the NZDUSD is pulling back as anticipated making for a great buy position once it confirms the higher low.
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Wednesday 23 January 2019
The NZ q/q inflation figures came in higher than the expected decline, thus the NZD rallied overnight. The NZDUSD as well as the EURNZD will make our watchlist for the day, so we will look for pullbacks and retraces to intra-day 50 EMAs to buy the NZDUSD or sell the EURNZD
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Tuesday 22 January 2019
The USD managed to reach above its daily 50 EMA, which is a sign that the rally is here to stay instead of forming a lower high. However, we need to wait for todays candle to close to get the confirmation. The USDJPY is pulling back and in case of a clear higher low long positioning remains feasible. While the EURNZD is still on track for a sell off.
Economic figures to monitor today are the Average Earnings from the UK and later in the evening Inflation numbers out of New Zealand.
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Monday 21 January 2019
Todays GDP Chinese data should shed some light on whether the Chinese ecnomy is contracting further and this will inadvertently impact the AUD and NZD pairs.
With the US having a bank holiday we can anticipate some low volumes but any pullbacks on the USDJPY will be closely watched for possible buy opportunities.
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