Overnight news ( (Bloomberg: Missile Hit Malaysian Jet in Ukraine and Israel launches a ground invasion in Gaza) has had, and is having continuing, impact on markets. I thought I’d take a look at some of the technical analysis from CS. The people at Credit Suisse technical analysis produce their reports every day, and today was no different … except they did so before the tragic news started to hit. If you view technical analysis as being helpful in getting you on the right side of a trend, aspects of their report on Thursday morning (Europe time) are very encouraging, and hats off to the people there.
In brief, (and I won’t be cherry picking):
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I’ll just highlight their NZD view:
Some good comments in there:
- With a top in place, we look for weakness towards .8652/42.
- NZDUSD maintains its top and continues to weigh heavily on the downside.
- We look for weakness to extend towards .8670/62 initially
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Like I said, if you view technical analysis as an aid to get you on the right side of a trend, the people at CS have done pretty well.
What do you think?
