Sounds good to me but the RBNZ rate decision isn't until Thursday 11th and the banks have a growing penchant to make it pretty hard to hold a position prior to the event. Could be a rocky ride.
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hi guys , momentum plays a big part in the ability to collect the pips.
you are probably focusing on the one cross which over the last few weeks has not moved at all.
i think the way the markets are moving in blocks at the moment , its unlikely for the aud and nzd dollar to take separate paths.
its a usd v commodity story
but a set up is a set up .
Seems you were right about the RBNZ rate decision. Got stopped out of my position for a loss, but no where near what it would have been had I held.
hi all im no currecy trader but nz/aud at 88c its been a while since its been this high could this be seen as a good time to buy aud or is it likley that the aud will keep on weakening
This is nothing more than a 'soft' vs 'hard' commodity trade.
Probably hedge funds unwinding old positions to lock in their profits, or building positions the other way with a view to it going further
NZD AUD is at 90 cents!!!!
Surely the NZD is over valued against the AUD on fundamentals.
Im am realy interested to hear what you currency guys predict on the NZD V AUD over the coming months.
Just that im cashed up have an employment offer in Ausi.
Unsure wether i should jump at low to mid .90 cent range or can this situation continue to strengthen the kiwi out to high .90's and beyond ?
hi ynot, cashed up sounds a great place to be.
im sorry but all my charts are audnzd so you got look upside down.
audnzd has been pretty volatile at the moment which is a little unusual for this cross.
possibilty has broken a triangle and may run to what has been a major resistance level in the past around 1.05.
if it broke 1.05 then may well move lower.
big resistance at 115 to watch to the upside.
so i think i would hang on at the moment and see which way it breaks and expect big daily swings as volatilty is pretty high.
...exchanged some NZ$ into A$ and started to dip into equities (yes, commodities included) hoping at least, to make a start taking advantage of companies showing good fundamental values (some miners sitting on piles of cash 50% and more compared to their market value right now), paying dividend yields based on earning cycle 07/08 higher than bank rates...and who wants to have money in the bloody banks anyway???
...as I have said long ago, if the whole show goes down the drain, your cash is trash (always has been more or less) and so will be anything else, apart from precious metals; so what am I waiting for I thought to myself and made a start;
...as far as NZD/AUD gap is concerned, it's not sustainable longer term
Kind Regards
Bumped for ollie
I actually have a very small short position in this cross but its quite negative - if it goes much higher I will be stopped.
This morning I was seeing a bit of a head and shoulders forming though so was ever hopeful the position might come right. ie Aud go down against Kiwi
I also have some cash left over from the last trip over there which I havent changed so a bit of a bob each way hahah
Ollie often in these situations its best to do the transfer in tranches eg 1/3rd now 1/3rd in a while etc....
At 1.27 Historically you wouldnt be doing too badly to bring money here to NZ right now remember it was 1.06 not that long ago. (I know these numbers are the wrong way round for you - but reciprocals are pretty easy maths)
Thanks peat, good idea to split the total into 3 or 4 lots,sort of dollar cost averaging . I remember sending this money to OZ with the rate at .9500 , Nov 05. so its all uphill. cheers
this is the head and shoulders I see on the hourly
which if correct would suggest theres 2-300 pips down if it can convincingly break 1.2750. But it hasnt yet.
well it tempted me in but didnt perform - taken a hit here....