Technical Analysis – NZDUSD stumbles but upside risks remain intact

Posted on January 8, 2021 at 1:45 pm GMT

NZDUSD is currently tracing the mid-Bollinger band in the four-hour chart after a slight pullback from the recently plotted 32½-month peak of 0.7314. Despite the small retracement in the pair, the commanding simple moving averages (SMAs) are backing the predominant bullish picture. The short-term oscillators are reflecting conflicting signals in directional momentum, though are leaning somewhat to the upside. The MACD remains in the positive region but has plunged some distance below its red trigger line, while the RSI is [..]


Daily Market Comment – Fresh virus fears dampen New Year optimism, dollar catches a bid

Posted on January 5, 2021 at 9:52 am GMT

UK enters third lockdown, sparks panic as virus continues to rage around the world Pound tumbles, dollar reverses earlier declines, Wall Street slips from record highs Uncertainty about Georgia runoffs adds to soured mood No respite from the virus just yet As vaccine rollouts get off to a slow start, mass inoculation is becoming a race against time as there appears to be no letup in Covid-19’s ferocious spread. British Prime Minister Boris Johnson announced a new national lockdown for [..]


Daily Market Comment – Familiar start to new year as dollar slips, stocks climb

Posted on January 4, 2021 at 10:00 am GMT

Trading in 2021 gets off to an optimistic start despite spiralling pandemic Dollar heads back towards 2½-year lows, bullish case for equities not over But plenty that can go wrong as Georgia runoffs, Electoral College count pose risks Cheery start to 2021 as markets pin hopes on vaccines The first trading day of the new year began pretty much how 2020 ended as investors chose to shrug off the worrying virus headlines to instead focus on the vaccine rollouts and [..]


Daily Market Comment – Global markets set to end chaotic 2020 on optimistic note

Posted on December 31, 2020 at 9:51 am GMT

As a year of absolute chaos concludes, investors look ahead into a calmer 2021 Dollar nurses recent losses, stocks retreat a shade from record highs Aussie and kiwi capitalize on softer dollar and cheerful mood, power higher Gold approaches upper end of recent trading range as real yields drop Happy end to a wild year There is a feeling of sanguinity coursing through global markets as a year of absolute chaos finally draws to an end. Most stock markets suffered [..]


Technical Analysis – NZDUSD exhibits sturdy bullish bias; upside pressure persists

Posted on December 30, 2020 at 8:45 am GMT

NZDUSD is in the process of pushing past the fresh 32-month peak of 0.7171 after having recently found some traction off the blue Kijun-sen line. All the simple moving averages (SMAs) are defending the positive structure, while the bullish Ichimoku lines are endorsing positive price action. Likewise, the short-term oscillators are leaning towards further improvements in the pair. The MACD, some distance in the positive area, is below its red trigger line but looks set to return back above it, [..]


Daily Market Comment – Trading starts to wind down, stocks at record highs, dollar dips

Posted on December 29, 2020 at 9:51 am GMT

Markets go quiet in thin holiday trading after US stimulus and Brexit hurdles cleared Pressure on the US Senate after House votes to increase stimulus checks Wall Street sets another record, Nikkei soars, London stocks play catch up Dollar on the backfoot again after rebound falters, pound pares losses Markets in holiday calm but stimulus drama may not be over Trading dwindled ahead of the New Year holiday amid thin liquidity as there was little reason for investors to stay [..]


Daily Market Comment – Virus scare eases but Trump’s stimulus threat tempers mood

Posted on December 23, 2020 at 9:39 am GMT

Equities on firmer footing as panic over new virus strain subsides further But another danger looms as President Trump unhappy with $900 billion stimulus bill Pound’s yo-yo ride continues as hopes rise for pre-Christmas Brexit deal Can Trump scupper Congress’ stimulus aid? Equities were on edge on Wednesday even as investors struck a cautiously optimistic tone ahead of the festive break. President Trump threatened late on Tuesday to block the $900 billion virus relief bill passed by both chambers of [..]


Technical Analysis – NZDUSD plummets from 32-month high; bullish outlook intacts

Posted on December 23, 2020 at 7:53 am GMT

NZDUSD has come under renewed selling pressure, falling below the 20-day simple moving average (SMA) and remaining well below the 32-month high of 0.7160. Despite the latest pullback though, the pair has been in a long-term ascending tendency since March 19. The RSI is plunging from the overbought territory, suggesting a downside correction, while the MACD is holding below its trigger line in the positive region. In case the selling interest persists, immediate support could come from the 0.6970 support, [..]


Technical Analysis – NZDUSD finds support at 20-period SMA; positive in medium-term

Posted on December 18, 2020 at 11:38 am GMT

NZDUSD is rising after the downside pullback off the 32-month high of 0.7170, which hit the 20-period simple moving average (SMA) at 0.7110. The RSI is pointing marginally up after the falling move from the overbought territory, while the MACD is dropping below its trigger line in the positive region, confirming the latest decline. Further losses may meet support around the 40-period SMA at 0.7095 ahead of the rising trend line at 0.7075, overlapping the upper surface of the Ichimoku cloud. Not far below, support [..]


Daily Market Comment – Dollar edges up amid the wait for elusive stimulus and Brexit deals

Posted on December 18, 2020 at 10:01 am GMT

Dollar selling eases as caution creeps in, but still set for big weekly losses The long wait for deals in Washington and Brussels takes edge off risk rally Stocks mixed, some volatility may lie ahead Dollar bears pause for breath as Congress in race against time The US dollar was attempting to end its week-long losing streak on Friday as doubts about how soon a stimulus deal in Congress and a Brexit trade pact between the UK and EU can [..]

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