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Forex Trading, Market News & Technical Analysis

New Zealand Dollar Close to a Buy Using MACD

Posted by WorldWideMarkets . on Oct 17, 2013 3:31:00 AM
The New Zealand dollar went to a sell signal using the MACD on October 1 but things are once more looking up for the kiwi on a short term technical basis with the 12- and 26-day moving average convergence divergence at 0.0093 and the nine-day signal line at 0.0095.
The kiwi went to a buy on September 5 and between that date and the sell signal on October 1, gained 4.9 percent against the U.S. dollar. Between the sell signal and the current trading date it still managed a 1.7 percent gain proving the MACD is hardly science but given it is about to get a positive buy again, this is probably not the time to bet against the kiwi.  trading kiwi
 

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