FxWirePro:EUR/NZD downtrend Intact, eyes 1.9500 level 
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FxWirePro: GBP/NZD downside pressure builds, key support level in focus 
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NZDJPY Bears Stay in Command: Sell Rallies at 92.72-75 Targeting 90 as All EMAs Flash Red 
FxWirePro- Major Pair levels and bias summary 
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NZDJPY forms double bottom pattern, with bottom 1 at 72.353 and bottom 2 at 72.254 levels.
Consequently, the bulls bounce on this bullish pattern on daily terms, while the current prices of this pair take-off above well DMAs, for now, rallies seem to be most likely but never rule-out overbought (OB) signals.
For now, more rallies seem to be on the cards upon bullish DMA and MACD crossovers & intensified bullish momentum.
On the flip side, it has been dipping constantly through falling wedge ever since the formation of back-to-back shooting stars at 80.588 and 79.873 levels in the major trend (refer weekly chart). Now, bulls have managed to bounce back at wedge support to hit 7 weeks highs. Both RSI and stochastic curves on this timeframe have been constantly showing the upward convergence that indicates the strength and momentum in the bullish interests.
While on the contrary, the major downtrend still remains intact, in upcoming weeks bears likely to resume and prolong further slumps on bearish EMA and MACD crossovers (refer monthly chart).
Contemplating the prevailing bullish sentiments in short term and lingering bearish trend in the long-run, the below FX derivatives strategies have been advocated to suit both timeframes.
Trading and hedging tips: At spot reference: 75.454 levels, on trading grounds buy one touch call options with strike price at 75.784 levels.
While on hedging grounds, long-term investors should stay short in futures contracts of mid-month tenors. The writers of the futures contract are expected to maintain margins in order to open and maintain a short futures position.
Currency Strength Index: FxWirePro's hourly NZD spot index is inching towards 74 levels (which is bullish), while hourly JPY spot index was at -107 (bearish) while articulating (at 09:57 GMT). For more details on the index, please refer below weblink:
