Kiwi Versus Dollar and Yen November 11th

FX Strategy Video > Currency Pairs Analysis

NZD/JPY fell for the Thursday session, but has found support in the 60 handle to form a Hammer. The pair is a significant “risk barometer” for the overall psychology of markets, and as the attitude and appetite for risk climbs, so does this pair. The hammer being formed shows the significance of the 60 handle, and if it gives way – we could see a massive sell off. A breaking of the highs from Thursday could see a significant rise in the pair though.

NZD/USD has had a similar session, and in the end formed a bit of a Hammer shaped candle. The 0.7750 area looks like it is trying to offer support at this point and we could see a bounce in the pair over the short-term. This is possible as a bounce from the serious fall on Wednesday. The breaking of the lows on Thursday would be very bearish though…

Published on 10th of November 2011
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