Sas113uke
11-28-2009, 09:43 AM
48th Week of 2009
This pair was on a major downtrend since the disaster began in March 2009 moved further down with the announcement of the European economic stimulus plan. When G20 announced early this month the continuation of stimulation package that ECB was still negative about the condition of the economy, it hit on its underside.
However, it has since rebounded transferred till it attained the 23.6percent Fibo retracements by the end of last week. On a weekly scale, both MACD RSI are also heading up, signalling further upwards power.
Based on my observations of late, this pair is acting in opposite direction to NZD/USD, which if either one advances, another will decline, vice versa.
I expect it to touch the 38.2percent Fibo to the upcoming week possibly beyond together with the revival of European confidence since the collapse of Lehman Brothers (refer http://www.bloomberg.com/apps/news?pid=20601068sid=am6RvI5pnoLE). Other pairs which are following exactly the exact same path are EUR/AUD, GBP/AUD, GBP/NZD AUD/NZD respectively. Nevertheless, since gold is still continuing its rally, a few pullbacks in this pair are expected as NZ Dollar is a commodity currency.
Major News for Next Week
Monday - NZ Building Consents m/m, EU CPI Flash Estimate y/y, EU Preliminary CPI m/m (Italian)
Tuesday - EU Retail Revenue m/m (Germany), EU Unemployment Change (Germany), EU Final Manufacturing PMI, EU Unemployment Rate
Wednesday - EU PPI m/m
Thursday - EU Final Services PMI, EU Retail Revenue m/m, EU Revised GDP q/q, EU Minimum Bid Rate, ECB Press Conference, Buba President Axel Weber Speaks
Disclaimer: While readers Get the benefit of opinions, none of the information contained therein constitutes a recommendation that any transactions or trading egies are Acceptable for any particular persons. To the extent any of the information contained therein could be deemed to be trading information, such information is impersonal not tailored to the trading requirements of any particular persons. Past results are not necessarily indiive of future operation.
https://www.cliqforex.com/attachments/1518716231472746372.png
This pair was on a major downtrend since the disaster began in March 2009 moved further down with the announcement of the European economic stimulus plan. When G20 announced early this month the continuation of stimulation package that ECB was still negative about the condition of the economy, it hit on its underside.
However, it has since rebounded transferred till it attained the 23.6percent Fibo retracements by the end of last week. On a weekly scale, both MACD RSI are also heading up, signalling further upwards power.
Based on my observations of late, this pair is acting in opposite direction to NZD/USD, which if either one advances, another will decline, vice versa.
I expect it to touch the 38.2percent Fibo to the upcoming week possibly beyond together with the revival of European confidence since the collapse of Lehman Brothers (refer http://www.bloomberg.com/apps/news?pid=20601068sid=am6RvI5pnoLE). Other pairs which are following exactly the exact same path are EUR/AUD, GBP/AUD, GBP/NZD AUD/NZD respectively. Nevertheless, since gold is still continuing its rally, a few pullbacks in this pair are expected as NZ Dollar is a commodity currency.
Major News for Next Week
Monday - NZ Building Consents m/m, EU CPI Flash Estimate y/y, EU Preliminary CPI m/m (Italian)
Tuesday - EU Retail Revenue m/m (Germany), EU Unemployment Change (Germany), EU Final Manufacturing PMI, EU Unemployment Rate
Wednesday - EU PPI m/m
Thursday - EU Final Services PMI, EU Retail Revenue m/m, EU Revised GDP q/q, EU Minimum Bid Rate, ECB Press Conference, Buba President Axel Weber Speaks
Disclaimer: While readers Get the benefit of opinions, none of the information contained therein constitutes a recommendation that any transactions or trading egies are Acceptable for any particular persons. To the extent any of the information contained therein could be deemed to be trading information, such information is impersonal not tailored to the trading requirements of any particular persons. Past results are not necessarily indiive of future operation.
https://www.cliqforex.com/attachments/1518716231472746372.png