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Thread: NZ$ Index

  1. #11
    Guru Xerof's Avatar
    Join Date
    Mar 2005
    Posts
    3,005

    Thumbs up I like it when things go to plan

    Now 7250 - Another day, another cent or so lower.

    The TA theory says, the whole move, once the flag or wedge is broken, should equal the height of the previous "flag-pole", after which followed the consolidation period that formed the flag, and then it finally broke down out of the flag formation for another kaboom.

    On that basis, this move eventually should reach a bit under 70 cents, maybe as low as 67. (I haven't done a calculation, just a visual) but not expecting that to happen in a straight line

    I do note too that we have seen lower highs/lows all the way from the top so far, so it is relatively safe to stay short KIWI until that changes

    Wheeler will be pleased with progress (perhaps it was them who initiated the flagpole, and again lobbed a few out late last week?) (I will never know.....)

    E & OE as usual for FX comments

    12/3 evening - post RBNZ statement has seen the market wrong footed and a good old short squeeze is in play. Never a straight line..........
    Last edited by Xerof; 12-03-2015 at 08:45 PM.

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