Attachment 12485
the NZDUSD is on a bear market all the thecnical indicators shows a down trend the support made by the ichimuku indicator still weak support and the cross may continu its down trend until 2.0130 where it face the support
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Attachment 12485
the NZDUSD is on a bear market all the thecnical indicators shows a down trend the support made by the ichimuku indicator still weak support and the cross may continu its down trend until 2.0130 where it face the support
GBPNZD
Even if the pair broke its descending trend channel and closed below the 50-day and 100-day SMA on Wednesday, the GBPNZD reimbursed its losses on Thursday and rallied back to the descending trend channel. The pair currently targets the 2.0350 resistance mark, breaking which 2.0480 and the 23.6% Fibonacci Retracement of its January – February up-move, near 2.0530, could become intermediate resistances before the pair tests upper line of the channel, near 2.0700 that restricts the near-term up-move of the pair. On the break of 2.0700, the pair could rally towards 2.0860 and the 2.0930 marks. On the downside, support-line of the channel and the SMA crosses, near 2.0200 – 2.0180 region, could provide immediate support to the pair. On the break of 2.0180, 50% Fibo, near 2.0080, and the 61.8% Fibo, near 1.9880, are important support levels that could restrict pair’s decline. Should it register a close below 1.9880, chances of near-term up-move gets negated and the pair can become vulnerable to test sub-1.9600 levels.
pair- gbp/nzd
time frame to analysis- m30
http://i60.tinypic.com/1oxbt2.jpg
the down movement is continue supported with the moving average 50. the cci is below the zero level but may not able to break the support at 2.0590 level and may again up side. hold the long entry with profit target 2.0800 and stop loss at 2.0525
good luck
Daily Forecast
Pair: GBPNZD
Major Trend: Bullish
Time Frame: H1
Reason: Market still fibo correction in the range from 50 to 61.8. Then expected to go to 2.0850. Looks RSI and Stochastic is still above the 50 line.
Recommendation: Buy
Pound Sterling to New Zealand Dollar (GBP/NZD) Exchange Rate Forecast to Rally as Threat to Dairy Industry sees ‘Kiwi’ Slump
The Pound Sterling to New Zealand Dollar (GBP/NZD) exchange rate advanced by around 0.69% on Tuesday morning.
Although British sales data failed to meet with the median market forecast, the Pound strengthened versus many of its major peers. The appreciation can be attributed to expectations that the quantitative easing program in the Eurozone will be beneficial for the British economy.
The New Zealand Dollar, meanwhile, dived versus most of its major rivals after environmentalists threatened to poison infant formula in an attempt to halt the use of agricultural poison on pests. As the world’s largest dairy exporter, the threats had a massive impact on prices.
The Pound Sterling to New Zealand Dollar (GBP/NZD) exchange rate is currently trending in the region of 2.0721.
Daily Forecast
Pair: GBPNZD
Major Trend: Bearish
Time Frame: H1
Reason: Market still be heading over to correction, in the range of 2.0636. However, because the market is now among the support to 1 and 2, then the market will still be heading to 2.0330 and reject
Recommendation: Buy limit at 2.0330
Friday 13th Mar 12:30pm(NZT)
It has been an interesting week for this pair, with a very sharp turnaround in the past 24 hours. Up until that point the New Zealand dollar was seen relentless pressure from the UK Pound with the pair trading down to 0.4800 (up to 2.0830) ahead of the RBNZ’s statement yesterday. That very neutral statement did nothing to encourage further selling and the NZD reacted positively jumping toward 0.4880 (down to 2.0490). Overnight the NZD gains continued, but this time it was GBP weakness that drove the leg higher. Bank of England Governor Carney raised concerns about the strength of the GBP and also suggested they may have to take into account persistent low inflation. The pair traded all the way to 0.4973 ( 2.0110) before the move ran out of steam. That’s a 3.5% move on the cross in under 24 hours. After a move of that size I can’t imagine there will be enough momentum to seriously threaten resistance around 0.5000 (support 2.0000). So selling NZD into this period of strength is recommended for those looking to purchase GBP’s. I would expect to see a pullback to around 0.4900 over the coming week. Next week from the UK we get average cash earnings data, claimant count change, the Bank of England minutes, and the annual budget release. While from NZ we have another Fonterra dairy auction along with current account and GDP data to digest.
The current interbank midrate is: NZDGBP 0.4965 GBPNZD 2.0141
The interbank range this week has been: NZDGBP 0.4800 - 0.4973 GBPNZD 2.0107 - 2.0834
Daily Forecast
Pair: GBPNZD
Major Trend: Bearish
Time Frame: H1
Reason: Market has been rejected at the pivot point at 2.0255, then enelopes pointing downwards, the possibility of direct market toward 1.9833
Recommendation: Sell
the weekly out look of the nzdgbp show that the price trade in a side ways movment between 2.0757 and1.9290 the thecnical indicator on the weekly time frame does not show any trend and the weekly pivot is at 2.0320
the GBPNZD reimbursed its losses on Thursday and rallied back to the descending trend channel. The pair currently targets the 2.0089 resistance mark, breaking which 2.0480 and the 31.8% Fibonacci Retracement of its January – February up-move, near 2.0530, could become intermediate resistances before the pair tests upper line of the channel, near 2.0700 that restricts the near-term up-move of the pair. On the break of 2.0700, the pair could rally towards 2.0860 and the 2.0930 marks. On the downside, support-line of the channel and the SMA crosses, near 2.0400 – 2.0580 region, could provide immediate support to the pair. On the break of 2.0580, 61.8% Fibo, near 2.0080, and the 61.8% Fibo, near 1.9880, are important support levels that could restrict pair's decline. Should it register a close below 2.0189 chances of near-term up-move gets negated and the pair can become vulnerable to test sub-1.9600 levels.
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