NZD Bulls Stepping on the Gas, U.S. Equities Flying - Forex News by FX Leaders

NZD Bulls Stepping on the Gas, U.S. Equities Flying

Posted Monday, June 26, 2017 by
Eric Furstenberg • 1 min read

In this morning’s update, New Zealand Dollar on My Radar, I eyed the NZD/JPY and suggested more upside on this pair.

In the meanwhile, both the NZD/USD and the NZD/JPY have risen impressively. Here is an updated chart of the NZD/JPY:

NZD Bulls 1NZD/JPY Hourly Chart

 

Although now might not be the most optimal time to enter long on this pair (because it is severely overbought), I would definitely look for buying opportunities in the next few days or weeks.

Let’s turn to the equity markets and have a look at the S&P 500:

NZD Bulls 2S&P 500 Hourly Chart

 

The U.S. equity markets opened less than an hour ago. The S&P 500 had a flying start indeed. This index is in a powerful uptrend, not only on this hourly timeframe but also on the more important daily timeframe.

For now, I’m firmly in the bull camp! Good luck!

 
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