Commodity currencies AUD & NZD falls to fresh session low after the dollar renewed upside momentum.
The important levels to watch this week:
AUD/USD: 0.6740/0.6660 and 0.6860/0.6920
NZD/USD : 0.6350/ 0.6300 and 0.6440/0.6480
The Australian stock market is modestly higher on Thursday after strong employment data. The unemployment rate falls 0.1% to 5.2%, with 39,900 new jobs created during November. In meanwhile, New Zealand’s GDP growth beat expectations in the third quarter. The economy expanded 0.7%...
I'll keep this short. NZD/USD looks great to short next week.
Let's go over a checklist
Price is under 200 EMA
Price pulled back to resistance
Price has rejected at resistance
Stochastic is overbought
Checklist ticked off.
Looks great for shorting! Good luck!
DISCLAIMER: This is only a...
Today we are looking at NZDUSD Trading Opportunities
Trade: Placing a sell limit on NZDUSD.
Fundamental Rationale: The US is on track to raise rates this year and the RBNZ is expected to cut several more times, including in July.
Technical Rationale: 68 is a round number and matches with...
CFTC Commitments of Traders Report, 30 October 2012. Speculators reduced their net short USD, as revealed in the latest COT report to 75.6K from 91.2K in the previous week. This is the 11th week specs have been short the USD.
What is the CFTC Commitments of Traders (COT) Report?
USDCAD. Markets have been under pressure this week. Currently, the Dow is down 1.6% to 13,132, and WTI crude is trading under 87 per barrel. This does not mean that the markets will not reverse but the bearish catalyst has been disappointing earnings. And so, against the backdrop of falling...
COT (Commitment of Traders) Report, 09 October 2012. During the latest COT reporting period, currency speculators, in the aggregate, reduced their USD short position by over 107K contracts. From the peak USD short position of 267,878 contracts on September 25th, that position has been reduced to...