{"id":24590,"date":"2011-10-19T18:56:48","date_gmt":"2011-10-19T22:56:48","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=24590"},"modified":"2011-10-19T18:56:48","modified_gmt":"2011-10-19T22:56:48","slug":"nzdusd-daily-outlook-20-october","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/10\/19\/nzdusd-daily-outlook-20-october\/","title":{"rendered":"NZD\/USD – Daily outlook 20 October"},"content":{"rendered":"

NZD\/USD \u2013 Daily outlook 20 October <\/strong><\/p>\n

Three day\u2019s ago on Monday we saw the Kiwi rejecting the 50% retracement level from its most recent down swing on the daily charts. Price action has not generated any bearish rejection signals until today where we\u2019ve seen an inside bar forming on the daily charts and have almost completed a head and shoulders pattern on the 4hr charts.<\/p>\n

In the chart below you can see resistance has been sitting strong at the 0.8020 area which in the summer months held as support for the pair. The 0.8020 area also ties in with the 50% retracement of the most recent down swing. Although recent weeks have seen the bulls taking charge of this market the 50% retracement & rejection suggest we could be in for further moves to the downside in the coming days.<\/p>\n

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\"nzdusd20octdailychart\"<\/p>\n

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To support the daily chart price action we can take notice of the head and shoulders pattern that has almost formed on the 4hr charts, again rejecting the same 0.8020 area mentioned above.\u00a0 You can see the downwards sloping \u2018neck line\u2019 further supporting a push lower. At the present moment we are approximately half way to completing the final stage of the 2nd<\/sup>\u00a0shoulder.<\/p>\n

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\"nzdusd20ocths\"<\/p>\n

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Should we see a break of the \u2018neck line\u2019 we could expect the kiwi to lose further ground against the Dollar in the coming days\/weeks.<\/p>\n

http:\/\/www.vantage-fx.com<\/a><\/strong><\/span><\/p>\n

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NZD\/USD \u2013 Daily outlook 20 October Three day\u2019s ago on Monday we saw the Kiwi rejecting the 50% retracement level from its most recent down swing on the daily charts. Price action has not generated any bearish rejection signals until today where we\u2019ve seen an inside bar forming on the daily charts and have almost … <\/p>\n

Continue reading “NZD\/USD – Daily outlook 20 October”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-24590","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/24590","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=24590"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/24590\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=24590"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=24590"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=24590"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}