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Kiwi

A Close Above MONTHLY 50 EMA Could Take NZDJPY Towards 83.500 Price is currently confined in a descending channel or wedge on the weekly charts with multiple tests occurring on both sides of the channel making it more and more potent if a breakout occurs! The blue lines on the main charts represent the support and resistance levels drawn from the monthly charts and as of few weeks ago the 75.000 level was respected and now the price seems to be heading towards the next resistance that lies in the 83.000 region. For this to take place the channel on the weekly charts must be broken convincingly and most importantly the MONTHLY 50 EMA must be broken to the upside (the monthly price candle must close above the monthly 50 EMA). Have a look at the picture below for further illustrations Once all these take place and fundamentals starts to align with technical picture, we can take this pair LONG with swing trading chance towards the 83.5000 level. On the flip side, shall the trendline gets rejected again on the weekly charts, then we can take this pair SHORT (day trading chance) towards the support beneath at 74.5000 level. see the image below for the technical aspects for the SHORT trade If the wedge is broken, the daily 50 EMA must be broken too in the process for the SHORT trade to be confirmed. Once this all takes place we wait for the price to slightly retrace before making an entry Shall there be any updates i would provide them in a new thread. this just represents my personal technical analysis behind this pair.
Long
by FX618Analysis
NZDUSD - Ready for 3rd Wave of Downtrend?Continuation of yesterday's forecast on NZDUSD, the price has retraced significantly after the completion of the 2nd wave of a bearish trend. At this moment, the price is seen hovering near the supply zone at 0.684. The retracement has hit a volume of 34 pips, similar to the previous wave of retracement just before the price dropped yesterday. For a confirmation that the price will continue to fall for the 3rd wave, it has to first break below 0.683. At the same time, we should keep a close watch on the dollar which is seen quite sluggish as it attempts to rebound and climb higher.
Short
by AlgoVenture
EW ANALYSIS IN DETAILS: NZDUSD Forming Bullish Setup?!Hello traders! Today we will talk about Kiwi (NZDUSD) and we will show you how EW works in details if you have the right approach! Well, Kiwi made a nice five-wave rally with extended wave (v) into a wave "i" last week, which in EW usually suggests a bullish reversal! So, after every five waves, a three-wave pullback follows in wave "ii", and as you can see, at the beginning of this week, Kiwi slowed down in a three-wave (a)-(b)-(c) correction, which can be approaching the end soon, right here around important 0.6800 support area! That said, if we see a sharp bounce here in the projected support area, followed by a break back above 0.6865 region, then we can confirm our wave count which can send price even much higher within wave "iii" towards 0.69 - 0.70 area or maybe even higher! Anyway, keep in mind that corrections can be very complex, for example deeper or more sideways price action. So, as long as price remains above 0.6745 invalidation area, we will remain bullish! Trade well! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
Education
by ew-forecast
NZDUSD Short - Falling from Top of Symmetrical TriVery simple and straightforward forecast here. The NZDUSD has bee ranging within a symmetrical triangle for the last 6 weeks. Price has climbed for 3 consecutive days and in the H1 chart, the rising trendline is already seen broken below. The price has then retraced two waves in the M15 chart after the rising trendline in the H1 chart was broken. Therefore, this is a straightforward and simple trade idea to short from the top of a major range after signs of reversal has appeared.
Short
by AlgoVenture
NZDUSD weekly outlookThe kiwi has held its narrow range between the 50% fib retrace @$0.69 & $0.673 which has been a solid pivot area. Now alongside those 2 levels we have 2 moving averages. The 200 day joins the bottom of the range & the 200 week joins the top. The key formation though is the triangle (purple dashed) so a push through the 200 day and the lower slope of the triangle comes in @$0.665. A break through the 200 Week targets the upper slope. Always keep in mind the long-term pitchfork formation (Blue). Daily A shorter term triangle is forming & both slopes also coincide with the moving averages 4 Hour
by FibnFork
A Close Above Daily EMA 50 Might Take EURNZD To 1.69000 level !1.65000 level represents the concrete support level drawn from the Monthly charts, which has been clearly rejected and the price now aims at breaking the channel that it is confined in and close above the daily 50 EMA! A convincing close above daily 50 EMA needs to take place, thereby giving further confluence that the price is headed towards the 1.69000 level! 1.69000 level is the area where the weekly 50 EMA is present and can often act as a dynamic support and resistance and therefore our target would be that level. In the future if the price breaks the weekly 50 EMA we can opt to take this pair further LONG to the next resistance (THE RED LINES ON THE CHART) On the fundamental aspects the AUD and NZD are both set to depreciate this year with the reason being they are too overvalued at the time. I feel a drop in NZD against the USD will likely happen soon and this will inturn have great impact on the EURNZD too. It remains to be seen if the technical aspects meet in the coming days. shall there be any trade entries i will post them in a new thread. this just represents my analysis and outlook of this pair. cheers
Long
by FX618Analysis