NZD.USD

arco · Newbie Joined: 19 Oct 2006 Posts: 13 Location: New Zealand

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Evaluating this cross using the Ichimoku (one glance) technique on the monthly chart.

In the past Tenkan crosses (TX) on the monthly chart have been very reliable. The TX crossed a few months ago, and more recently the action has retraced north to the Kijun (red) which is acting as resistance.

The whole scenario is looking bearish now, and IMO we could see a nice drop in the NZD. One other point to consider is the bearish Head and Shoulders that would form if/once the price drops to the circa 5950.

regards - arco

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rffrydr · Posted: Wed Nov 08, 2006 8:28 am Post subject:

And this is the secret ingredient to the REAL yen carry--that is, the japanese retail investor loaded up in high(est) 7.25% NZ debt. And commodites.

Keep an eye on that cross.