Daily Forex Market Update: NZD/USD Signaling Long

ABOUT THE AUTHOR: John Putman II is a full-time trader and managing member at FX Analytics Analytics Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Read this Term, a third-party research provider focused on Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term rate modeling, economic complexity, genetic programming and distributive computing.

INDEX REVIEW

Early trading saw the Euro, Pound, Kiwi and Dollar indexes all sell off. The Aussie and Swiss remain relatively flat. From a macro perspective I still like the Kiwi for a cyclical move higher. The Aussie, Euro, Pound and Dollar are also signaling cyclical moves higher but their price action is much more neutral which impacts the risk profile. I’d prefer to see them at a more substantial support level than they are right now.

PRE-TRADE ANALYSIS

The Pre-Trade Matrix has 14 regression signals, seven of those have cyclical support, only the NZD/USD isn’t displaying counter momentum as we head into the US Session. That pair is currently signaling long.

TRADE RECAP

The GBP/JPY and the NZD/CAD were closed in the Asian session for a loss of just over half a percent. The NZD never really went anywhere but the Pound did retrace and eventually came to an adjusted support zone, which, by that time, was into negative territory. This morning I’ve entered the long NZD/USD and will let this grind a while and evaluate again this evening.

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