{"id":63439,"date":"2014-11-10T10:42:11","date_gmt":"2014-11-10T15:42:11","guid":{"rendered":"http:\/\/countingpips.com\/?p=63439"},"modified":"2014-11-10T10:51:13","modified_gmt":"2014-11-10T15:51:13","slug":"kiwi-rallies-but-reversal-remains-unconfirmed","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/11\/kiwi-rallies-but-reversal-remains-unconfirmed\/","title":{"rendered":"Kiwi Rallies But Reversal Remains Unconfirmed"},"content":{"rendered":"<div id=\"inves-1723464392\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">November 10, 2014<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Technical Sentiment: <strong>Bearish<\/strong><\/p>\n<p><strong>Key Takeaways<\/strong><\/p>\n<ul>\n<li>The U.S. Dollar fell on Friday, 7<sup>th<\/sup> November, allowing most counterparts to catch their breath;<\/li>\n<li>Bullish price action signals are showing up for NZD\/USD;<\/li>\n<li>A larger bullish correction remains unconfirmed as Lower Highs configuration persists;<\/li>\n<\/ul>\n<p><em>Don\u2019t fall for rumors that a major USD correction is coming. Before all else, wait for technical confirmations around the main resistance areas.<\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><strong>Technical Analysis<\/strong><\/p>\n<p><img decoding=\"async\" src=\"http:\/\/capitaltrustmarkets.com\/wp-content\/uploads\/2014\/11\/NZDUSD10thNovember.jpg\" alt=\"NZDUSD10thNovember\" \/><\/p>\n<p>NZD\/USD traded near the edge for all of last week, at a huge technical crossroad, 0.7660\/80 support area from June 2013 to be more precise. Post NFP, when all the news was digested, greenback bulls eventually caved based on worse-than-expected U.S. data. This allowed the Kiwi to rally and close the day with a large bullish engulfing bar, signaling a potential recovery for this week.<\/p>\n<p>Friday\u2019s bullish reaction saw a modest continuation in Asian trading and during the first half of the European session on Monday. Traders pushed NZD\/USD up to 0.7793, where the bullish rally ended based on insufficient economical triggers to push higher. From a swing configuration perspective NZD\/USD downtrend remains intact, with Lower Highs and Lower Lows.<\/p><div id=\"inves-3971064329\" 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<p>While everyone believes the USD gains have overextended in recent weeks, traders should refrain from targeting higher levels for now. A huge resistance confluence lies around 0.7841, marked by previous Lower High, 100 and 200 Simple Moving averages on 4H. Unless the pair can rally above this levels and completely turn bullish (with targets at 0.7975 and 0.8050) NZD\/USD will remain at risk for further losses in the near future.<\/p>\n<p>*********<br \/>\nPrepared by Alex, Currency Strategist at <a href=\"http:\/\/www.capitaltrustmarkets.com\">Capital Trust Markets<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Technical Sentiment: Bearish Key Takeaways The U.S. Dollar fell on Friday, 7th November, allowing most counterparts to catch their breath; Bullish price action signals are showing up for NZD\/USD; A larger bullish correction remains unconfirmed as Lower Highs configuration persists; Don\u2019t fall for rumors that a major USD correction is coming. Before all else, wait [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-63439","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/63439","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=63439"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/63439\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=63439"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=63439"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=63439"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}