New Zealand Dollar: NZD/USD (NZD=X) fallen away in early Asian trade
The New Zealand Dollar closed lower against the U.S. Dollar on Friday as investors continued to show almost no reaction to a number of conciliatory gestures between the United States and China that could be signaling an easing of tensions over the prolonged trade war. Sellers also hit the Kiwi in response to stronger than expected U.S. Retail Sales data that drove up U.S. Treasury bond yields, while softening the concerns over a U.S. recession.
On Friday, the NZD/USD settled at .6377, down 0.0032 or -0.50%.
Traders are now positioning themselves ahead of Wednesday’s U.S. Federal Reserve interest rate and monetary policy decisions as well as Thursday’s release of the latest New Zealand quarterly GDP data.
Overall, the bias in prices is: Downwards.
The projected upper bound is: 0.65.
The projected lower bound is: 0.63.
The projected closing price is: 0.64.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 23 white candles and 27 black candles for a net of 4 black candles.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 25.1966. This is not an overbought or oversold reading. The last signal was a sell 2 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 43.15. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 9 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 16. This is not a topping or bottoming area. The last signal was a sell 3 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 8 period(s) ago.
Rex Takasugi – TD Profile
FOREX NZD= closed up 0.001 at 0.638. Volume was 79% below average (consolidating) and Bollinger Bands were 32% narrower than normal.
Open High Low Close Volume___
0.638 0.639 0.636 0.638 7,308
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 0.64 0.65 0.67
Volatility: 7 8 9
Volume: 25,740 32,872 39,173
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
FOREX NZD= is currently 4.3% below its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of NZD= at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on NZD= and have had this outlook for the last 2 periods.