Nzd.usd

[peat]

taken out with this bounce, for minimal gain.... aaargh what a pain

[Xerof]

Surprisingly muted reaction to this little gem from Dr B

quote:The high exchange rate had also contributed to the current account deficit, by placing pressure on export sector revenues, whilst making imports relatively cheaper. Dr Bollard said the exchange rate appeared to have reached an unsustainable level. Overseas investors in New Zealand dollar instruments should also consider the downside scenario when making their investment decisions.

Perhaps the market has read through him - trying to lower currency expectations before he raises interest rates?

My formative alternatives posted 11/10 have reached the zone of decision....

Xeroff to the pub shortly

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most people are thinkin that he will raise....
but if for some reason he doesnt, and there are a few indicators starting to show that it may not be necessary, then that would be unexpected and would cause the biggest reaction
but yeh trying to talk it down does suggest hes nervous about the ramifications of ramping up the yield.

[peat]

shorted at .6954 another bite at the cherry

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got out in the + but not much..... still theres always next week.
went out for a drink and missed my 30-40 target.... oh well.

seems like this has broken the down trendline but the upside cant be too great in my opinion.

have a good weekend everyone!!!!!!!

[Xerof]

Welcome to a new week guys

This might be worth a short in the 7015 to 7050 zone if seen



Xerof

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Despite stops being tripped above 0.7010 and 0.7020 there has not been and significant pick up in [NZD/USD]'s upside momentum. Technical players though will be eyeing the break of the upper bound of a descending range around 0.6990 as the signal for a further possible upleg towards a longer term trendline around 0.7040. An increase in yield related flows has been noted today as high yielders continue to return to favour following the interest rate jitters of earlier in the month. Nzd/Jpy in particular has lifted to new 8-year highs above 80.50, with this likely to continue ahead of Thursday's RBNZ rate decision when a 25bps hike, to 7.0%, is widely tipped. The Aud/Nzd cross, however, remains stuck in tight ranges. It may need a break below the 1.07 level here to signal renewed gains in the main pair.

[slam]

Went long at 7007
Nice run sofar +32

Cheers
Slam

[peat]

take your profits quick imho

[Xerof]

Lots of resistance levels clustered overhead, between 60 and 90

Gartley formed, 78.6% retracement.....



Sold a bit at 35, will sell again at 50

Probably what will happen is the trendlines will crack and the Gartley will evolve into a butterfly, but will give it a go[8D][8D]

Xerof