Technicals and Fundamentals: NZ Dollar Rises After Election, Chinkou Span Breaking H4 Price For Breakout
- past data is 13.4
- forecast data is n/a
- actual data is 26.5 according to the latest press release
if actual > forecast (or actual data) = good for currency (for NZD in our case)
[USD - Durable Goods Orders] = Level of a diffusion index based on surveyed manufacturers, builders, retailers, agricultural firms, and service providers. It's a leading indicator of economic health - businesses react quickly to market conditions, and changes in their sentiment can be an early signal of future economic activity such as spending, hiring, and investment. Above 0.0 indicates optimism, below indicates pessimism.
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NZDUSD M5: 14 pips price movement by NZD - ANZ Business Confidence news event:
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A NET 26.5 per cent of firms are optimistic business conditions will improve in the coming year, up from 13.4 per cent in September. It's the first increase since confidence hit a 20-year high of 70.8 per cent in February, according to ANZ Bank's latest Business Outlook survey.
We put September's decline in confidence down to politics, and this month we say the same," ANZ chief economist Cameron Bagrie said.
"Confidence is still well down from its February euphoria but readings are still north of average. Life on the prairie for the average business may not be stellar but it looks solid."==========
Ichimoku Intraday Analysis
H4 price is located inside Ichimoku cloud/kumo for trying to break Senkou Span A line to be reversed from primary bearish to the primary bullish market condition.
Chinkou Span line is breaking the price from below to above on open bar for good possible breakout.
- If Chinkou Span line will break the price on close H4 bar and H4 price will break 0.7957 resistance so we may see the reversal of the price movement from bearish to the bullish in intraday situation
- if not so it will be ranging bearish market condition in H4 intraday
