Nzd.usd

[Xerof]

Well, both formations still in play. I think 6890/95 will determine which way this goes. If its higher, it can probably go to 6950+, but I have two lines of Gann resistance at circa 6900.

Well done to the "2011 bid" front row - Pinetree and Tana as excellent props for Helen the hooker


Xerof

[peat]

winning the world cup must have bolstered the kiwi !!

doubled up my kiwi long when it came back to my b/e point 0.6843 and closed one out this morning at .6880 , (yes a bit of a scalp but it all helps) and holding the other for a loftier target say, .6930 ish

[peat]

[NZ WK AHEAD] This wk's calendar load is undeniably heavy, and expected to be no "Thanksgiving" for the c.bk; with Oct migration data due Tues, NBNZ Business Outlook and Q3 Capital Good Price Index on Wed, Q3 PPI featuring Thurs and Oct trade data Frid. Sept qtr capital goods price index and PPI data will be of main focus to an increasingly edgy central bank, but we expect both to heighten rather than soothe its concerns over growing domestic inflationary pressures. NBNZ's biz outlook should also highlight a disturbing pick up in inflation expectations. Oct trade data ends the week off, with trends pointing to a wider annual trade deficit, weighed down by the strong NZD and surging oil prices.

[Xerof]

Different time frame from my last posting, but looking like the longer term Gartley is in play.

If it is, it should be able to achieve 6950, where AB = CD. At 6950, of course, one then might get butterflies in the stomach....

The ol' bird is certainly showing amazing resilience, especially against European currencies.



Xerof

[arco]

Hi Xerof

Yes I have been watching that Gartley...waiting in
the wings.

First target circa 6948-6955

arco

[Xerof]

quote:it should be able to achieve 6950

FWIW

A couple of respected EW commentators are both convinced that last nights spike high to 6919 was probably enough, and that downside is now imminent.

Sell any rally I guess, with stops above 6965.

Xerof

[peat]

yes its struck me that playing this correction was relatively higher risk esp as we reached the top of it so I have been out this week. Looking to re-enter USD longs tho .... perhaps a bit late....

[peat]

[NZ] yield appetite appears endless, with another two offshore eurobond issuances announced today on top of IADB's 2 tranche NZ$642m uridashi issuance yest. Germany's KFW is seen offering NZ$200m bonds via a reopening of its 6.375% global paper due Feb 2015 for settlement Nov 30; whilst France's Cades to offer a NZ$200m 7% 2009 paper for settlement on the same day. Pricing for both is expected later today. Meanwhile japanese demand ensued in the local mkts today, suggesting more uridashi bonds are in the pipeline before year end.

[Xerof]

Yes Peat, Fibanacci timewise, there's still 2 or 3 days left for a possible further spike, if it's going to happen....

[peat]

quote:Looking to re-enter USD longs tho ....