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There are two positive matters at Christmas: Gifts and overshoots – ForexLive


The kiwi is in a good place, but not this good

I’ve constantly discovered that the time close to Christmas and New Several years is a good time for retail traders to get an edge.

The rule of thumb in skinny liquidity is that everything carries on in the same direction it was earlier headed. It’s a drift and from time to time it goes a little bit also far.

Previous calendar year it was providing in inventory markets that took on a mind of its personal but there are a multitude of assets where this is constantly the circumstance.

This calendar year, I think the kiwi is a good prospect. The outlook has definitely brightened but the rally has gotten a little bit forward of alone, in particular in the earlier several days.

The chart above displays the NZD/USD RSI and — as Bloomberg factors out — it is really now at the most-overbought considering the fact that 2003/04 when it also overshot close to New Several years.

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