Menu
Brokers
MT4 Forex Brokers
MT5 Forex brokers
PayPal Brokers
Skrill Brokers
Oil Trading Brokers
Gold Trading Brokers
Web Browser Platform
Brokers with CFD Trading
ECN Brokers
Bitcoin FX Brokers
PAMM Forex Brokers
With Cent Accounts
With High Leverage
Cryptocurrency Brokers
Forums
All threads
New threads
New posts
Trending
Search forums
What's new
New threads
New posts
Latest activity
Log in
Register
Search
Search titles only
By:
Search titles only
By:
Menu
Install the app
Install
Reply to thread
Forums
Forex Discussions
Technical Analysis
Technical Analysis NZDJPY : 2019-11-27
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Message
[QUOTE="IFC Markets, post: 173651, member: 18359"] [SIZE=6][B]The next round of US-China trade talks is expected[/B][/SIZE] Representatives of the United States and China held talks regarding the conclusion of the first phase of a trade deal. Will the NZDJPY rise? Such a movement is observed in case of the strengthening of the New Zealand dollar and weakening of the Japanese yen. China is the most important trading partner of New Zealand. In case of successful completion of a trade dispute with the US, its economy may get an extra boost for development, which will increase the demand for New Zealand raw materials and goods. In turn, the Japanese currency is a "safe-haven asset." Demand for it decreases in case of a reduction in global foreign trade risks and conclusion of an interim agreement between China and the US. At the end of last week, the Chinese leadership invited U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin to negotiate in Beijing. Retail sales for October will be released in Japan on November 28, and unemployment and industrial production data for October and inflation in Tokyo will come out on November 29. These indicators may affect the exchange rate of the yen. The New Zealand trade balance for October will be released on November 27, and the economic review of the National Bank of New Zealand will come out on November 28. [IMG alt="NZDJPY"]https://ifccd.net/uploads/image/26-11-2019.png[/IMG] On the daily timeframe, [B]NZDJPY: D1[/B] breached up the resistance line of the downtrend and moved into an uptrend. A number of technical analysis indicators formed buy signals. The further price growth is possible in case of positive news about US-China trade talks. [LIST] [*]The [B]Parabolic indicator[/B] gives a bullish signal. [*]The [B]Bollinger bands[/B] have narrowed, which indicates low volatility. Both Bollinger bands are titled up. [*]The [B]RSI indicator[/B] is above 50. It has formed a positive divergence. [*]The [B]MACD indicator[/B] gives a bullish signal. [/LIST] The bullish momentum may develop in case [B]NZDJPY[/B] exceeds the 4 last fractal highs and the upper Bollinger band at 70.1. This level may serve as an entry point. The initial stop loss may be placed below the October low, the Parabolic signal and the lower Bollinger band at 66.6. After opening the pending order, we shall move the stop to the next fractal low following the Bollinger and Parabolic signals. Thus, we are changing the potential profit/loss to the breakeven point. More 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 level (66.6) without reaching the order (70.1), we recommend closing the position: the market sustains internal changes that were not taken into account. [SIZE=6][B]Summary of technical analysis[/B][/SIZE] [LEFT][TABLE] [TR] [TD][LEFT][B]Position[/B][/LEFT][/TD] [TD][LEFT]Buy[/LEFT][/TD] [/TR] [TR] [TD][LEFT][B]Buy stop[/B][/LEFT][/TD] [TD][LEFT]Above 70.1[/LEFT][/TD] [/TR] [TR] [TD][LEFT][B]Stop loss[/B][/LEFT][/TD] [TD][LEFT]Below 66.6[/LEFT][/TD] [/TR] [/TABLE][/LEFT] [/QUOTE]
Insert quotes…
Verification
Post reply
Top
Bottom
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…