NZD/JPY outlook

NZD/JPY

NZD/JPY; following Kiwi weakness from 2 weeks ago, reached the peak of 89.93 and the down move took place, 5 wave correction signaled the start of the down move at 0.86 Fibonacci retracement which equal to bearish bat in harmonic trading, the down move was halted last week at 87.66 channel support on the daily and weekly time frames, breaking 87.66 is a must to continue the down move ( Daily & weekly ), if this move took place the target  will be 87.18 and 86.66 ( both are daily targets ), as for weekly the target will be at 85.57 only if it remains under 88.01 ( clear break ).

NZD/JPY

NZD/USD outlook

Nzd/Usd

Kiwi Down to 0.8645 last week, Kiwi has been very week for the second week , it did took a nice bearish hit from 0.8840 down all the way to 0.8645, it was a 200 pips move in 2 weeks, Friday move find support at the monthly 0.8660, now we seeing a pull back and it may extend to 0.8740- 0.8750, Friday close was bullish for Kiwi on the daily and 4H time frames.

Areas to watch for the pair;

1. 0.8700 psycho level
2. 0.8750 back side of the channel line back from November
3. 0.8645 last low
4. 0.8615 daily support

I remain bearish on Nzd/Usd down to 0.8550 where my initial take profit for the short.

Nzd/Usd

EUR/USD OUTLOOK

Eur index

Euro index bearish momentum in play

Long term : bearish

Medium term : bearish

Short term :Neutral

Euro Index Monthly 3 waves correction complete at 280 in the process of forming a reversal pull back, a top in place after this week candle close and the down move will be confirmed.

Eur/Usd ; 1.3490 is support we look for hold and a pull back near 1.3550 – 1.3580 ( resistance ) after forming the bearish head and shoulder on the 1H and 4H time frames.

I remain bearish on Eur/Usd with a target of 1.3350- 1.3370 as long as 1.3580 is holding as a strong resistance.

Few major Fundamental events in play this week, Euro re-act to this news very well.

Eur index