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Kiwi

Potential Short on GBPNZDObserving 4H, Daily and Weekly chart, we can see bearish momentum. There are 2 ways to look at this current price formation. Firstly, it is in an upward channel, touching the lower bound and looking to breakdown of it. (Indicated by green lines) Secondly, you can see it as a H&S pattern, where price is currently at the neckline. (Indicated by yellow line) Targets are marked at S&R levels, with TP 1 @ 1.87250, TP 2 @ 1.86240 and Extended TP @ 1.84000. Following a H&S target measurement (distance from head to neckline), melting down towards Ext. TP is possible. After a breakdown, there is possibility of a pullback to either the neckline or the lower bound of the upward channel. At that point, it would be important to observe price action to decide on any addition of positions OR an entry.
Short
by TraderMozo
EURNZD-what is strong and what is weak?In the forex market, everything is determined on a relative basis. The best outcomes for trades come when we find currency pairs that are polar opposites in strength and fundamental stability. It is always wise to value both currencies instead of just one. How do we determine what is weak and what is strong? The normal process of qualitative valuation, like is performed on the stock market, does not fully apply. People who do not trade the financial markets often assume a currency is stable and fixed. That is just not true. In the forex market, the change in price of the instrument is twofold and if you forget to value, the other side of the pair you are operating based on luck. EURNZD This currency pair has gone through some wild gyrations in the past session. This was due to the Reserve Bank of New Zealand announcing that it will keep interest rates where they are but giving direct guidance of a future rate cut. We know that the current state of markets produces extreme volatility not only when fundamentals change, but also when the promise of a change is encountered. The Euro is plagued with many risks, including political, economic and ECB fiscal policy changes. The New Zealand dollar on the other hand looks surprisingly strong. The pair has broken through local support at 1.6535 and retraced back today. If tomorrow is a bearish day, we recommend opening a short position with a target of 1.6400.
Short
by YaroslavBirchenko
AUDNZD could be gunning for big stops belowAs mentioned in the NZDUSD trading idea, i am playing this position with a tight stop and a position split on NZDUSD Buy and AUDNZD Short. Its the same rationale behind both trades, but i am seeing a bit more potential for a bigger profit on AUDNZD. The risk reward is also to my favour so i am seeing a potential good trade with small risk on this one. The chart pattern on the kiwi is better, but as mentioned above here i am seeing a bigger potential profit. i am sorry for posting this a little late, but the nzdusd idea is still on my entry price, this one moved a little lower since my entry.
Short
by IamJeanPaul
1
KIWI: Sharp dive continuesBy Andria Pichidi - February 7, 2019 The New Zealand Dollar reverted the month’s positive outlook overnight, after the announcement of the weaker than expected Labor data. The unemployment rate reported at 4.3% from 4.0% in Q3 and its forecast at 4.1%. At the same time employment was well below projections, as it grew by just 0.1% in contrast to the 1.1% in Q3 (q/q, sa). This weak report complies with RBNZ’s pledge to keep the rate at the current level through 2019 and 2020. The overnight miss pushed NZDUSD to a 12-day low, at 0.6743 , putting the pair below all 3 daily moving averages. This strong downleg broke all Support levels stated yesterday, converting the near term outlook into negative. NZD FIGURE Currently NZDUSD is currently retesting the 200-day SMA at 0.6760 , without any significant positive bias so far today. As 20- and 50-period SMA posted a bearish cross in the 4-hour chart, while momentum indicators are configured negative, the day’s picture remains negative, with next immediate Support at 0.6725 , which is the confluence of S1 and 38.2% Fib. level set in December. RSI is moving within the oversold area and MACD lines are extending to the downside, suggesting the increase of negative bias. Further losses below 0.6725, could lead the pair towards 0.6580-0.6650 area. To the upside only a move above 0.6850 (midway of yesterday’s crash) could shift the asset further higher. In the short term Resistance comes a t 0.6780 (200-period SMA and the latest up fractal in 1-hour chart). NZDJPY Other than Greenback, Kiwi faced the biggest dive against Yen. NZDJPY rejected the 75.90 h igh and is currently sloping by 180 pips lower, below 20-day SMA. The rejection of that level signifies a move away from the upper Bollinger Bands pattern but significantly from the upper level of the 18-month downchannel. Hence a close today below the 20-day SMA at 74.50, could open the doors towards the lower Bollinger Bands pattern and the mid line of the channel, at 0.7320 and 0.7255 respectively. Come join us today at HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
Short
by HotForex