NZD/USD analysis | Nov 11, 2019

As per risk part of my previous analysis, NZD has technically turned bearish because the 3-drive has been fully validated as price broke below previous swing low.

We can target next support that is FIB61.8 of the whole swing up. Set TP 2.0 pips + spread above FIB61.8.

Risk: RBNZ Official Cash Rate and statement is due to release at 8 p.m. EST, Nov 12 ( 2 p.m. NZ time, Nov 13). 60% of analysts all over the globe are expecting a rate cut to 0.75% but 40% analysts including Westpac are expecting no rate cut and similar statement to that of Sep 25.

This uncertainty led NZD to a new low in last week and may continue to weigh on it more because professional traders sell during uncertainty.

Nevertheless, profit taking from sell positions ahead of the news may push NZ a bit higher; therefore current sell position has tight stop and we should move SL to BE as soon as we get +15.0 pips floating.


Recent Posts

See All

Comments on our YouTube channel are enabled.

We have enabled comments on our YouTube channel. However, we suggest you to sign up/ subscribe on because we are not sure how quickly we will be able to

  • Facebook Social Icon

© 2010-21 by

The information on this website is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement.


Past performance is no guarantee of future results. Your capital is at risk in Forex & CFD trading.