ridethepig | NZD Spot Commentary 2020.01.31
Here we have another fast flow for NZD over the coming sessions; AUD and NZD have both under pressure and making fresh lows. The “Giant Panda” has turned off its lights for a while to contain the spread of the coronavirus meaning the underlying PBoC bid supporting both AUD and to a lot lesser extent NZD remains absent.
For the 2020 Macro Map in NZD:
An early heads up, if we cannot break above the highs in this flow it will be sending us loud messages that we need to reassess the 2020 macro map at the end of Q1 as the retrace will have done too much damage.
For the Flows:
BUY NZDUSD 0.645x | TP 0.655x | SL 0.642x
While AUDUSD is also at a critical 0.667x level and losing it (not expected) will unlock a major panic move towards 0.62xx. NZDUSD also approaching the key 0.646x and will trigger some profit taking from shorts and a bounce back towards 0.655x. Similarly to AUD, a break below 0.645x in NZD will open a panic move towards 0.633x hence the tight stops.
As usual thanks for keeping the support coming with likes, comments and etc!
For the 2020 Macro Map in NZD:
An early heads up, if we cannot break above the highs in this flow it will be sending us loud messages that we need to reassess the 2020 macro map at the end of Q1 as the retrace will have done too much damage.
For the Flows:
BUY NZDUSD 0.645x | TP 0.655x | SL 0.642x
While AUDUSD is also at a critical 0.667x level and losing it (not expected) will unlock a major panic move towards 0.62xx. NZDUSD also approaching the key 0.646x and will trigger some profit taking from shorts and a bounce back towards 0.655x. Similarly to AUD, a break below 0.645x in NZD will open a panic move towards 0.633x hence the tight stops.
As usual thanks for keeping the support coming with likes, comments and etc!
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Channel has been broken, investors are reluctant to put heavy sizings to work after the hangover from the Asian bloodbath.
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Eyes here today
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Finally...
