Nzd.usd

[Xerof]

quote:. ** NEW ZEALAND DOLLAR/US DOLLAR - MEDIUM TERM VIEW **

August 5th,.6895 -- Kiwi's probably undergoing broad corrective recovery

back toward the .7000 Resistance lvl then the mid 7100's,before Reversal

Peat, your lady at Jinxedbank and TRL must have been at the same party

[peat]

yeh, drinkin from the same punch bowl i guess

she added her comment at the end of a peice about the CNY reval
"Furthermore, I expect a renewed upside potential on both AUD and NZD - as exponents of the commodities currencies. The Chinese revaluation will hardly put a damper on exports. Therefore, the demand for commodities will not be affected; it may even increase, as a result of rising Chinese purchasing power. Consequently, I expect AUD/USD to return to 78 and NZD/USD to return to 71.50."

Certainly looks like continued $ weakness for now tho the Ozzie and hence the AUD/NZD rate have faltered.

[Xerof]

Well, smack me as you would a red-headed stepson, but I think this Kiwi is going higher.

Playing out a very large triangle on the daily chart, and is right on resistance now. Only resistance above here that I can see is at 6998, being 61.8% of the mid-June to early July decline, then fresh air until 7200 (100% fib ret)

Hmmm - thinking about it, but hate trading August....

Xerof

[Xerof]

Well, most of the sellers were being taken out as I wrote the last post 36 hours ago around 6950, and here we are, 140 piparoonies higher.

Still another 100/150 upside for this puppy IMO....if the data tonight doesn't favour USD...although lately.... who's been caring about the data[^][^]

Nice start to NPC by mooloo, but usual messy handling woes in season opener

Xerof

[zyreon]

hmm, carrying on down I see...

[zyreon]

hmm, is that a triangle on the daily?

[arco]

Hello Z

Possibly. I'm already short in anticipation.

The highest recent close at 7074 was not a million
miles from the Gann 7080 resistance figure I gave
on the 4/8.

quote:..........there is a Major Gann level slightly
higher at 7080. (Which also coincides with a 50 Fib of
the last major down move from 16/3 high, or 786 from the
recent June high)

First point to look for a little wobble - 6836

Trade well

arco

[peat]

yes... the Danes I get information from (jynskebank) have now got a short on the Kiwi (from Fri @ 0.6980) with a target of .6750. It never reached their upper target of 7150 tho....

[peat]

you were right about the 6836 mark being pivotal arco!

[arco]

Hi Peat

Yes if you want a little more technical info
there could be a margin of error of about 29
pips on that Gann level 6836 (6865). So
between those figure for the wobble.

+45 as of this moment.

arco