NZDUSD: Update to Quaterly Plan
The Quarterly target was hit. Now, I think that this pair could fall more.
My projection is now, approximately, 300 pips away: 0.7040 to 0.6720.
s3.amazonaws.com/tra...shots/w/wjIoSCtt.png
My projection is now, approximately, 300 pips away: 0.7040 to 0.6720.
s3.amazonaws.com/tra...shots/w/wjIoSCtt.png
Commento:
www.rbnz.govt.nz/new...nged-at-1-75-percent
According to the New Zealand Central Bank, "The trade-weighted exchange rate has fallen 4 percent since February, partly in response to weaker dairy prices and reduced interest rate differentials. This is an encouraging move, but further depreciation is needed to achieve more balanced growth."
This is further supporting evidence that NZD is dovish and a bearish in the currency is still forthcoming. The short-term chart is also clear and my quarterly forecast is unchanged.
According to the New Zealand Central Bank, "The trade-weighted exchange rate has fallen 4 percent since February, partly in response to weaker dairy prices and reduced interest rate differentials. This is an encouraging move, but further depreciation is needed to achieve more balanced growth."
This is further supporting evidence that NZD is dovish and a bearish in the currency is still forthcoming. The short-term chart is also clear and my quarterly forecast is unchanged.
Capturing the swings of the stock market & currency market. It's a dirty job and equity/currency traders must do it.
New Zealand is fundamentally dovish still and will probably hold rates on March 23, 2017. their data is weak. They cannot raise rates. They have been lowering rates (8 times last year).
The US Fed has been raising rates. So, this is a good opportunity. Hopefully, my interpretation of the chart is correct.