In December 9, 2015, the Reserve Bank of New Zealand (RBNZ) delivered a cut to the Official Cash Rate (OCR) by 25 bps to 2.5% but surprisingly $NZD/USD rallied on that same day from 0.6565 to 0.6759 (2.9% daily range) before closing at 0.6713 (2.3% increase). In subsequent weeks, $NZD/USD continued to rally further to 0.688 before finally turning lower […]

Revised short term Elliottwave structure suggests decline to 125.74 ended wave W. Wave X bounce is unfolding as a triangle where wave ((a)) ended at 128.25, and wave ((b)) is in progress and expected to complete at 124.9 – 125.5 area before turning higher in wave ((c)).  We don’t like buying the proposed wave ((c)) bounce. […]

Revised short term Elliottwave structure suggests decline to 125.74 ended wave W. Up from this level, wave X bounce is unfolding in a double three structure where wave ((w)) ended at 128.17, wave ((x)) ended at 126.59 and wave ((y)) of X is in progress. Short term, while pair stays above 126.59, and more importantly above 125.74, […]

Short term Elliottwave structure suggests decline to 125.76 ended wave W. Up from this level, wave X bounce is unfolding in a double three structure where wave ((w)) ended at 127.87, wave ((x)) ended at 126.358 and wave ((y)) of X has ended at 128.14. Short term wave “b” bounce is now expected to fail below 128.14 […]

Short term Elliottwave structure suggests decline to 125.76 ended wave W. Up from this level, wave X bounce is unfolding in a double three structure where wave ((w)) ended at 127.87, wave ((x)) ended at 126.358 and wave ((y)) is in progress towards 128.48 – 128.98 area to complete wave X before pair turns lower again. […]

Short term Elliottwave structure suggests wave ((X)) bounce ended at 87.06. Down from this level pair has enough number of swings in place to call a triple three structure completed at 79.25. As this level holds in the dips, pair has scope to put in a 3 or 7 swings bounce in wave (X) which is expected […]