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NZ Dollar COT Extreme

Daytrader21 Publicado 7 Jun  en #Trader's blog #Cot Report #Open Interest #Nz Dollar #Large Speculators #Commercial Seculator
Looking through the COT report I noticed that the on top of the list when it comes to COT extreme has come NZ Dollar. Not only Large Speculators are at extreme level but also Commercial Spec are on extreme levels. We can see that the Open Interest has increase as well suggesting new position where added during this down move. While Commercial Spec are net long we can see that the Large Spec are on the other side and are net short.
Even though this may suggest that a reversal may be in place the …
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NZD/USD COT Report

Daytrader21 Publicado 31 May como análisis en NZD/USD, Objetivo: 0.7132, Fecha: 1 de Julio, 12:00 GMT  en #Technical analysis #Trendline #NZD/USD #Nzdusd #Psychological Number #Support And Resistance #Cot Report #Open Interest
NZD/USD has broken key support level at 0.7200 which held the price since beginning of the year and it seems now that the bearish trend is ready to resume. First we also need a retest of the broken support which now is expected to act as resistance. We also have confluence if we draw and connect all the high from 0.7750 high, we have a nice trend line which should act as resistance.
Major Levels to watch:
[list][/list]…
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Daytrader21 5 Jun

Update 1: The market has not managed to break below key support level and big round number 0.7000 but we neither where able to retest the previous broken support level at 0.7250 which as based on my prediction should happen before the downtrend resume

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Daytrader21 14 Jun

Update 2: This week the COT has continue to widen again and although technically we broke below key support level and round number 0.7000 a reversal is still in place. Next key support level remains at 0.6900 which is a multi year pivot level.

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Daytrader21 19 Jun

Update 3: Right now the market is trading near an very big inflection zone between 0.6900-0.6885 which should produce a bounce as the COT extreme is still widening suggesting a reversal may come soon. However we still need a break above the big figure 0.7000 in order to see more upside momentum

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