Tuesday, March 5, 2013

NZDUSD – Three Brokers, Three Analyses

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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