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

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/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:

S&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!

ABOUT THE AUTHOR See More

Eric Furstenberg

Lead Educator

Eric Furstenberg is a successful entrepreneur and fund manager with years of trading experience in the Forex, commodity, and stock index markets. He is a seasoned trader who employs advanced trading methods to complement his portfolio and also manages a private investment fund.

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