Good evening everyone and welcome to our NZDUSD discussion
for the week. There has been much talk out of the Reserve Bank of New Zealand
and the strength of the Kiwi. The NZDUSD has retreated to a certain extend and
there are plenty of views where this currency will go next.
Let’s take a look at Oanda’s Market Pulse:
Their point of view is rather bearish on this issue and they
attribute their bearish view to weak Chinese PMI as well as sequester in the
U.S. In February RBNZ Governor Wheeler rattled this currency pair with his
dovish statements. Oanda’s Market Pulse also noted statements that market
participants priced in a 25 basis point rate hike in 2013.
Overall Oanda does not rule out that this pair can move
higher. In essence they said it is bearish, but can go higher so we really did
not get any signal provided for trading purposes by them. They said it can go
lower, but it can also move higher. I don’t think any of us needed an analyst
to tell us both potential outcomes.
The Last Bear ranks the Oanda Market Pulse as unsatisfactory
as it does not proved its clients an edge in the forex market. Next!
Here is PaxForex Trading Recommendation for the NZDUSD:
According to their analyst the NZDUSD will launch a
correction and they recommended a short position at 0.8310. This analysis was
performed on February 28th. They also gave a take profit level of
0.8250. The entire analysis was based on a technical analysis and they did not
waste their time with fundamental issues. On March 1st the take profit level was triggered which allowed their traders to earn 60 pips.
The analysts over at PaxForex took a stance and advised
their clients on what exactly to do in order to be able to profit from the
available knowledge with exact entry as well as exit points. This form of
presentation gives traders an edge in today’s forex market and provided
something useful which can be executed.
The Last Bear ranks the PaxForex Trading Recommendations as
excellent as it provides clients exact entry as well as exit levels which
allows trader’s to add trades to their portfolio.
InstaForex FX Analytics
Our last look goes towards InstaForex and their FX
Analytics. Unfortunately their take was the worst out of all as they offer a
snapshot they created and is totally useless. Furthermore they give you both
scenarios and are unable to identify the trend in their analysis, either
because they wish to avoid it on purpose or because they are not able to
identify it.
In general the weekly snapshot offered by the InstaForex
analysts does not offer trader’s anything beneficial as it creates several what
if scenarios and compares to nothing more than a guessing game. You can compare
it to a weather forecaster who says if it rains take an umbrella with you, but
if it does not rain you can leave it at home.
The Last Bear ranks the InstaForex FX Analytics terrible as
it does not provide useful information to clients, but is disguised as a
sophisticated analysis.
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