NZDUSD - RBNZ to be the catalyst to push the Kiwi lower?
This week there are relatively less risk events in the currency market - the only one worth highlighting is RBNZ Rate Statement happening on Thursday morning here in Singapore.
Here are a few reasons why I'm expecting the Kiwi to weaken in the near term -
1) We are currently in a 6th swing, thus we are expecting one more move lower since this is not a complete swing cycle;
2) Price has met the minimum fibonacci requirement for an expanding flat structure;
3) Price is currently at the top of the bearish channel; and
4) On the lower timeframe, price is also showing signs of exhaustion.
With these simple technical analysis, I have a stronger bias in looking for shorting opportunities on NZDUSD rather than longing it.
However, do take note that this are only my personal views and I may jolly well be wrong too :P
So trade according to your plan and manage your risk ALWAYS!
**Quiz - what other information or 'edge' can we get to enhance our analysis on the NZD?
Here are a few reasons why I'm expecting the Kiwi to weaken in the near term -
1) We are currently in a 6th swing, thus we are expecting one more move lower since this is not a complete swing cycle;
2) Price has met the minimum fibonacci requirement for an expanding flat structure;
3) Price is currently at the top of the bearish channel; and
4) On the lower timeframe, price is also showing signs of exhaustion.
With these simple technical analysis, I have a stronger bias in looking for shorting opportunities on NZDUSD rather than longing it.
However, do take note that this are only my personal views and I may jolly well be wrong too :P
So trade according to your plan and manage your risk ALWAYS!
**Quiz - what other information or 'edge' can we get to enhance our analysis on the NZD?
Nota
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.