{"id":105922,"date":"2017-05-12T06:42:26","date_gmt":"2017-05-12T10:42:26","guid":{"rendered":"http:\/\/countingpips.com\/?p=105922"},"modified":"2017-05-12T06:42:26","modified_gmt":"2017-05-12T10:42:26","slug":"nzdusd-forex-technical-analysis-nzd-weakness-continues-after-central-bank-meeting","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/05\/nzdusd-forex-technical-analysis-nzd-weakness-continues-after-central-bank-meeting\/","title":{"rendered":"NZDUSD: Forex Technical Analysis &#8211; NZD weakness continues after central bank meeting"},"content":{"rendered":"<div id=\"inves-3608252912\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">May 12, 2017<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>By <a href=\"http:\/\/www.ifcmarkets.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">IFCMarkets<\/a><\/p>\n<p><strong>New Zealand dollar weakness continues after central bank meeting<\/strong><\/p>\n<p>The <a href=\"https:\/\/www.ifcmarkets.com\/en\/market-data\/forex-prices\/nzdusd\"> New Zealand dollar <\/a> has been declining since the end of January. The Reserve Bank of New Zealand didn\u2019t change its rate track projection but lowered estimates for the trade weighted index. Will the New Zealand dollar continue weakening?<\/p>\n<p>The Reserve Bank of New Zealand left the Official Cash Rate at 1.75% at its May 11 meeting, keeping it steady since November 2016. Reserve Bank governor Graeme Wheeler said the recent jump in consumer prices, mainly due to higher tradeables inflation, particularly petrol and food prices, may only be temporary: headline inflation rose to 2.2% in the first three months of the year, well above the RBNZ\u2019s forecast of 1.5%. In February, the Reserve Bank adopted a neutral stance on policy, signaling no hikes until the middle of 2019. Central bank policy statement was deemed dovish, as the central bank signaled no change in rate hike track and cut its projections for the Trade Weighted Index (TWI), a basket of exchange rates for 17 of New Zealand&#8217;s major trading partners. RBNZ projects the TWI will average 76 in the current June quarter, falling to 75.3 by March next year. The TWI was recently at 74.86. On May 15 first quarter retail sales will be released and on May 25 balance of trade for April will be published.<\/p>\n<p style=\"text-align: center; margin-bottom: 20px; margin-top: 20px;\"><img decoding=\"async\" style=\"float: none;\" src=\"https:\/\/www.ifcmarkets.com\/uploads\/images\/NZDUSD_12May2017.png\" alt=\"XAUUSD\" width=\"660px\" \/><\/p>\n<p class=\"emailSummary\">The <b> NZDUSD: D1 <\/b> &gt; has been trading with negative bias since the end of January. The price has fallen below the 50-day moving average MA(50) on the daily chart.<\/p>\n<ul class=\"emailSummary\">\n<li><a href=\"https:\/\/www.ifcmarkets.com\/en\/ntx-indicators\/parabolic\">Parabolic indicator<\/a> gives a sell signal.<\/li>\n<li>The <b> Donchian channel <\/b> indicates downtrend : it is tilted downward.<\/li>\n<li>The <a href=\"https:\/\/www.ifcmarkets.com\/en\/ntx-indicators\/macd\"> MACD indicator <\/a> is bearish.<\/li>\n<li>The <a href=\"https:\/\/www.ifcmarkets.com\/en\/ntx-indicators\/stochastic\">stochastic oscillator<\/a> is falling and hasn\u2019t reached the oversold zone yet.<\/li>\n<\/ul>\n<p>We believe the bearish momentum will continue after the price closes below the lower Donchian boundary at 0.6816. A pending order to sell can be placed below that level. The stop loss can be placed above the Parabolic signal at 0.6949. After placing the order, the stop loss is to be moved every day to the next fractal high, following Parabolic signals. Thus, we are changing the probable profit\/loss ratio to the breakeven point. The most risk-averse traders may switch to the 4-hour chart after the trade and place there a stop-loss moving it in the direction of the trade. If the price meets the stop loss level ($0.6949) without reaching the order ($0.6816), we recommend canceling the position: the market sustains internal changes which were not taken into account.<\/p><div id=\"inves-1685604317\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<h2 class=\"emailSummary\" style=\"margin-top: 15px !important;\">Technical Analysis Summary<\/h2>\n<table style=\"border: solid 1px black;\" cellspacing=\"0\" cellpadding=\"0\" align=\"left\">\n<tbody>\n<tr>\n<td align=\"left\" valign=\"top\"><b>Position<\/b><\/td>\n<td align=\"left\" valign=\"top\">Sell<\/td>\n<\/tr>\n<tr>\n<td align=\"left\" valign=\"top\"><b>Sell stop<\/b><\/td>\n<td align=\"left\" valign=\"top\">Below 0.6816<\/td>\n<\/tr>\n<tr>\n<td align=\"left\" valign=\"top\"><b>Stop loss<\/b><\/td>\n<td align=\"left\" valign=\"top\">Above 0.6949<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Market Analysis provided by <a href=\"http:\/\/www.ifcmarkets.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">IFCMarkets<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By IFCMarkets New Zealand dollar weakness continues after central bank meeting The New Zealand dollar has been declining since the end of January. The Reserve Bank of New Zealand didn\u2019t change its rate track projection but lowered estimates for the trade weighted index. Will the New Zealand dollar continue weakening? The Reserve Bank of New [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-105922","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/105922","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=105922"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/105922\/revisions"}],"predecessor-version":[{"id":105929,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/105922\/revisions\/105929"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=105922"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=105922"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=105922"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}