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i got a bit carried away with Fib over the weekend and drew up this
http://img213.imageshack.us/img213/1...4092006vt5.jpg
I wanted to show where I was drawing the fib from, for clarity and critique.
the fib time was an extra touch which almost matches the lows... perhaps the next low will be just after that final vertical line
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Overhead Gann as mentioned seems to be causing some hesitation
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NZ Produces Another Trade Deficit Shocker
26/09/2006
NZPANew Zealand's trade deficit in August almost hit a billion dollars, Statistics New Zealand reported.
The deficit came in at $961 million, well worse than the $780m economists had forecast.
The monthly shortfall pushed the August year deficit up to $6.547 billion, slightly down from $6.735 billion in the July year but again worse than economists' forecasts of $6.4 billion.
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i thought we had a trade deficit figure for the quarter a few days ago.
arco - seeing as your online how close are we getting to what you would call a reversal here now? .... already down 50 from the rather perfectly achieved 6720
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Hi Peat
Current action appears to be in the process of forming a possible Dark Cloud Cover or even Bearish Eng pattern on the EOD, - either of which would give a powerful signal.
And yes, Mr Gann came up trumps again for top picking/pickers, (as mentioned circa 6720)....so a cheeky short at that has given a nice bonus.
regards - arco
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Hi Peat/Arco
Just came across the wire/its all good for the current short!
Comments from RBNZ"s Cullen have taken the legs out from under Kiwi. He said
that the central bank may keep rates on hold through 2008 and that the market
took a harder message than intended from the monetary policy statement. GDP
probably fell in Q2 from Q1, he said. Kiwi has slipped to 0.6610 from 0.6660 on
the comments, carried by Bloomberg. Most provocatively, he says kiwi may fall to
0.40. Tell us what you really feel, Mike. 0.6650 is solid resistance on
rebounds 0.6570/75 is support. Jamie.Coleman@Thomson.com
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funny how news that impacts always coincides with Fib/Gann.... ;)
Altho its beneficial to NZ and its what the RBNZ want I'm surprised that the Minister is sticking his beak in re rates. I thought the Bank was independent.
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Thanks Roddy
Ah Peat....thats Quantum Interconnectedness.
Physicists and even arco and Major Gann have come to realize that the universe is interconnected in much subtler ways than had once been thought.
The interconnectedness of the parts of the whole allows us to realize our/the oneness with all things.
arco
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No fewer than four articles discussing the overvalued NZ$ in the Asian FT.
Micheal's mug on the front page and lead article in the Companies and Markets section.
A lot of marketing going into talking down the dollar on his wee OE.