RBNZ Cash Rate Announcement today !!!!!!!!
Okay so the Kiwi has taken a bit of a thrashing since January, based on Earlier Tier 1 data missing on a few occasions , In my opinion its been punished for this for the last 5 months and had its correction.
Its important to notice here a few things:
1. Its still found support off the trend line and had back up with the 0.5 fib retracement .
2. Its now clearly broken the downward trend line
3. It has broken the 0.618 fib line and is staying above it for now, probably like us , traders are waiting with anticipation not so much on the cash rate by the RBNZ, as more the statement that follows for some key upbeat words to shed some light on their outlook, then we will see this move properly.
4. If Mr Wheeler is feeling positive then there's nothing in its way until 80.00 - 80.70 level where 0.786 fib sits, or longer term 82.00-83.00 levels
5. Right now by our calculations that's either 140 pips or 300 + pips
6. There is very much a risk on sentiment as well right now, so the JPY is feeling unloved
So we will set our entry target @ 78.30
TP1 @ 80.00
TP2 @ 82.00
Stop @ 77.80
Happy trading people ........
Its important to notice here a few things:
1. Its still found support off the trend line and had back up with the 0.5 fib retracement .
2. Its now clearly broken the downward trend line
3. It has broken the 0.618 fib line and is staying above it for now, probably like us , traders are waiting with anticipation not so much on the cash rate by the RBNZ, as more the statement that follows for some key upbeat words to shed some light on their outlook, then we will see this move properly.
4. If Mr Wheeler is feeling positive then there's nothing in its way until 80.00 - 80.70 level where 0.786 fib sits, or longer term 82.00-83.00 levels
5. Right now by our calculations that's either 140 pips or 300 + pips
6. There is very much a risk on sentiment as well right now, so the JPY is feeling unloved
So we will set our entry target @ 78.30
TP1 @ 80.00
TP2 @ 82.00
Stop @ 77.80
Happy trading people ........
Order cancelled:
for now
Comment:
Right you heard the RBNZ statement ( accomodative ) this will punish the Kiwi for a bit, but i don't see this causing a panic sell off just keep an eye on the crosses especially NZD/USD for now, until the buyers step back in . We will look to go long if we see this trail back to the 77.00 levels and buying interest start to unfold.
Comment:
NO the chart above is not a mistake either, Im showing you NZD/USD is being held up for the minute by the 0.5 fib line for how long we will see.
Stay tuned
Stay tuned
Comment:
Still watching this , as right now the Kiwi had good Figs printed overnight, and OIL has bounced off the back of Russia and Saudi in favour of OPEC extending deal for 9 months , so safe haven flow has taken a back seat for now .
That could be what this needed to give it some fuel ( excuse the pun ) to tick higher.
Watch this space !!
That could be what this needed to give it some fuel ( excuse the pun ) to tick higher.
Watch this space !!
Comment:
Still watching for a better entry
stay tuned
stay tuned
Comment:
setting an entry long @ 76.60
Trade active:
Okay so as stated we were filled @ 76.60 still in the trade for now moved stop to 78.00 to lock in 140 pips for now ......
Will be in touch .......