Kiwi has developed an inverted H&S formation where the head is a prior H&S formation indicated previously in our analysis.
The Kiwi has shown a lot of divergence on the RSI in the last month as we traded to new 52-week lows.
A close above the 0.6700 level tomorrow may trigger a longer term double bottom setup for the pair.
The NZDUSD has been following a steep downtrend line since March, and we are nearing the 88% retracement of the Sept 2018 lows to December 2018 highs and also the 127% extension of the December 2018 lows to 2019 highs.
The USD (DXY) has been range bound for months, and mostly this is a product of many cross currents in the markets. Equity market volatility, weakness of fundamental data globally stating to seep in, the FOMC looking to be at the end of their hike cycle, China and US trade war brewing, and the list […]
The NZDUSD has had a relentless bounce higher the last couple weeks and we are now testing the underside of the broken multiyear trend line and also the 38.2% Fibonacci retracement of the 2018 low to high range.
The NZDUSD is under a huge amount of pressure overnight after New Zealand has finally formed a government and center-left Labour party leader Jacinda Ardern is going to be the new Prime Minister. Read more
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