GBPNZD: NZ$ 'Strikes Back' + O.K. China + 61.8% Fib Rejected
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OANDA:GBPNZD
Observations
1)China released O.K. macro which translates into stronger 'Kiwi' as almost 50% export from New Zealand just head to one single market; the Chinese.
2)Let's think the 61.8% Fib was rejected, then we start a move lower as the GBP$ appreciated too much too fast and at the beginning of 2018 that was decent profits that smart money managers are going to take off the table.
3)Watching stronger OANDA:NZDUSD and sometimes it does translate in lower proxies as OANDA:GBPNZD and the commodity cross OANDA:AUDNZD which is moving +80-pips for the Kiwi.
"Never risk the house for pennies."
José Ricaurte Jaén :)
Observations
1)China released O.K. macro which translates into stronger 'Kiwi' as almost 50% export from New Zealand just head to one single market; the Chinese.
2)Let's think the 61.8% Fib was rejected, then we start a move lower as the GBP$ appreciated too much too fast and at the beginning of 2018 that was decent profits that smart money managers are going to take off the table.
3)Watching stronger OANDA:NZDUSD and sometimes it does translate in lower proxies as OANDA:GBPNZD and the commodity cross OANDA:AUDNZD which is moving +80-pips for the Kiwi.
"Never risk the house for pennies."
José Ricaurte Jaén :)