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Disclaimer: This is my personal Blog, reflecting my very own views on Forex , shares and commodity tradings. As such, all informations provided here are barely for information purposes only,. The author should not be held liable for any errors, incomplete information, delayed messages, or for any actions taken in reliance on information contained herein.This blog is new, being established on 06,May.2010. While I am executing trades, posting will be sent simultaneously. The date/Time indicated here is of US Pacific zone(++15 Hours for Singapore/KL/Beijing, Or ++7 hours GMT)

Wednesday, July 14, 2010

NZD/USD ---will the upcoming CPI release be sending her to further NORTH ??


NZ CPI NEWS RELEASE AT 22:45 GMT, Thursday, 15/July/2010









NZ CPI q/q  Q2          **Forecast/consensus)  0.4%       Previous 0.4%(Statistics Dept)
NZ CPI y/y Q2           * Forecast/Concensus   2.0%       Previous 1.9%(Statistics Dept)



Note::** Forecast data extracted from Dailyfx.com

If the CPI  exceeds + 0.10% , then  BUY NZD/USD
If    CPI is  below    - 0.10 %,  Sell Down the pair

Wait for 10 minutes on the M5 chart after CPI News release, ,on the appearance  of third candle, execute the trade  in the direction of trend.

Now NZD/USD is hovering near 0.7200-0.7250 level, which is considered a possible Top for this currency pair.
I will not support any view on the possibility of further upsurge from this level. Technically, the immediate Resistance at 0.7300 is too demanding for this currency pair to breach. As such, the uplift momentum shall be limited even with a bullish CPI release.

A possible bullish CPI release may yield 30-60 pips max , and it shall be back to its previous trend . Be prepared for its downward correction near terms.



A bearish CPI release may send this pair down to 0.7092(50% Fibo Retr), follows  by 0.6982 (23.6% Fibo Retr)

But do remember that there may be a rate revision by RBNZ on upcoming July 28. So keep a close watch on this currency pair which is  currently with  negative-biased sentiments, as correction to its recent rise is imminent.


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