Technical Analysis – NZDUSD pauses decline after double top; bearish threats still in play

Posted on September 30, 2020 at 6:55 am GMT

NZDUSD got trapped within the 0.6500-0.6600 zone after breaking below a supportive trendline and confirming a double top formation around 0.6796. It is worth noting that the 200 simple moving average (SMA) is also placed around these two peaks in the weekly chart. Although the rebound in the Stochastics favours bullish actions in the short-term, the RSI, having posted a series of lower highs, is still below its 50 neutral mark. Adding to the bearish signals is the MACD which has been trending downwards [..]


Daily Market Comment – Equities storm back on fiscal hopes

Posted on September 28, 2020 at 9:21 am GMT

Risk appetite improves on hopes that US fiscal deal isn’t entirely dead Dollar climbs despite rebound in stock markets – European worries? Too early to say turbulence is over, but broader path seems bright For now, all eyes are on the Trump-Biden debate and Brexit talks Markets feel the blues in September Global markets have been thrown into turmoil in recent weeks, as a perfect storm of bad news provided a reality check for investors. America is running out of [..]


Technical Analysis – NZDUSD bulls halted by mid-Bollinger band; bearish pressures remain

Posted on September 25, 2020 at 12:02 pm GMT

NZDUSD’s fresh upward pivot from 0.6510 has been dismissed by the mid-Bollinger band at 0.6574, which has reset the negative direction, with the price now tackling the 0.6539 barrier. The diving 50- and 100-period simple moving averages’ (SMAs) negative demeanour and their forthcoming bearish overlaps of the 200-period SMA, may further aid a weakening bias. The short-term oscillators back a deteriorating picture. The MACD, far below zero, although above its red signal line appears to be waning, while the dipping [..]


Daily Market Comment – Stocks dive again as recovery in doubt; dollar stands tall

Posted on September 24, 2020 at 9:10 am GMT

Global equities follow Wall Street lower as fears of major winter wave mount Fed’s call for more fiscal stimulus falls on deaf ears Dollar trounces rivals, commodity currencies sink Stocks slump as optimism fades Rising pessimism about the prospect of a swift economic recovery from the pandemic dragged down equities on Thursday. The rout in global stock markets follows a sharp slide on Wall Street on Wednesday when the Nasdaq Composite plunged by 3% and the S&P 500 lost 2.4%. [..]


Daily Market Comment – Dollar climbs as virus gloom deepens

Posted on September 23, 2020 at 8:54 am GMT

Dollar extends gains as recovery prospects falter on virus resurgence Wall Street rebound fails to set markets alight Euro sags after poor PMIs; pound sinks on new virus curbs Rate cut expectations pummel aussie and kiwi Dollar shines as storm builds over global economy Markets were struggling to put up a positive front on Wednesday as the worsening virus outlook in Europe and the fading prospect of additional fiscal stimulus in the United States heightened recessionary fears. The stimulus-infused risk [..]


Technical Analysis – NZDUSD bears meet 0.6600; selling pressure may continue

Posted on September 23, 2020 at 7:22 am GMT

NZDUSD had a steep decrease over the previous couple of sessions, challenging the 0.6600 psychological level. The pair fell beneath the six-month ascending trend line, opening the way for a potential neutral bias in the short-term. The momentum indicators are confirming the recent selling interest as the RSI slipped beneath its 50 level, while the stochastic oscillator dropped in the oversold zone. The 20- and 40-day simple moving averages (SMAs) are turning slightly lower and the 200-day SMA is flattening [..]


Daily Market Comment – Stocks lick wounds; pound tumbles on lockdown fears

Posted on September 22, 2020 at 9:20 am GMT

Selloff in equities eases but sentiment still subdued amid virus and political woes Dollar and yen hold firm as clouds gather over economic recovery Pound braces for new UK restrictions Aussie skids after RBA’s surprise dovish turn Just a wobble or start of a deeper correction? The market mood remained undeniably downbeat on Tuesday following yesterday’s acceleration in the selloff that’s gripped equities during the course of September. European shares took the heaviest beating as banking stocks were pummelled from [..]


RBNZ: Another dose of dovishness – Forex News Preview

Posted on September 21, 2020 at 3:33 pm GMT

The Reserve Bank of New Zealand will wrap up its policy meeting at 02:00 GMT Wednesday. No action is expected, so the market reaction might depend on the overall tone of the statement, any changes to the timing of the next rate cut, and how open policymakers appear towards buying foreign assets. Economic data have deteriorated and the RBNZ’s own forecasts are grim, implying the Bank is likely to stick to dovish language, helping to keep a lid on the [..]


Week Ahead – Tracking the recovery: is Europe lagging the US?

Posted on September 18, 2020 at 12:54 pm GMT

The latest flash PMI releases will dominate the economic agenda next week as the recovery in the United States appears to be picking up a gear, while the European rebound may have hit a snag. The tables have been turning lately in the US vs Eurozone recovery story, threatening to unravel the euro rally. Trying to predict the economic comeback from the pandemic will also be preoccupying policymakers at the Reserve Bank of New Zealand at their September meeting amid [..]


Technical Analysis – NZDUSD battles resistance band; bullish bias persists  

Posted on September 18, 2020 at 11:54 am GMT

NZDUSD is clashing with the 0.6789 to 0.6800 resistance band following its latest climb from 0.6600, which produced a 17½-month high. The recent pickup in the 50- and 100-period simple moving averages (SMAs) suggest further appreciation in the pair, while the merging Ichimoku lines continue to aid the positive drive in price. The short-term oscillators point to a slight weakness in positive sentiment. The RSI and the stochastic oscillator reflect the struggle in the price to overcome the resistance trench. [..]

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