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New Zealand Dollar long-term

Currency Trends, Watch, Technical Analysis, CAD, CHF, NOK, NZD, fx trader, forex NZD basket FXTrader

The New Zealand Dollar is in a long-term bullish trend, with the breakdown in mid 2015 from a relatively narrow multi-year bull channel having found support spot-on the base of the projected bull channel drawn off the early 2009 extreme low.  The latest recovery phase is at risk of leaving a lower top around the 2014 low / 2013 high, ahead of another dip.  However, with the major trend up, a higher low is favoured to emerge above the 2015 one and then set up a return towards the 2014 & 2015 highs, potentially extending to new all-time highs.

Norwegian Krone long-term

Currency Trends, Watch, Technical Analysis, CAD, CHF, NOK, NZD, fx trader, forex NOK basket FXTrader

The Norwegian Krone is in a strong downtrend, having broken down from an almost 6 year trading range during 2014 to signal a resumption of losses from the 2008 peak.  The acceleration through the base of a projected 17 year bear channel and measured move target at the end of 2014 and subsequent overshoot of the base of a projected 7 year bear channel has warned of a move towards the 1.618 Fibonacci extension target before attempting to mount a rally.  With MACD still hitting new lows too, a bounce may be short-lived, followed by a continued decline.

Steve Jarvis
Chief Analyst
Tradermade

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