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Short NZDUSDHi again traders here is another potential trade I've been watching for a few weeks now. As you can see, price has hit previous structure/resistance which is a key indicator for a reversal. My RSI set up has shown that price has reached the overbought area and has already started its reversal which you can see on the chart as well with a strong bearish candle on the daily time frame. My shorter moving average signal is very close to crossing over to the downside showing a strong signal of a change in trend. Price has gone into the 61.8% retracement zone and turned around giving us another signal for a change to the downside. I would look to enter this trade around the 7.200 level with your first TP: 7.000 and TP:6.900 - 6.800 I would consider a safe place for your stop loss to be around the 7.350 price level. Good luck traders. Plan your trade, trade your plan.
Short
by Frankyfnz
NZDUSD - RBNZ to be the catalyst to push the Kiwi lower?This week there are relatively less risk events in the currency market - the only one worth highlighting is RBNZ Rate Statement happening on Thursday morning here in Singapore. Here are a few reasons why I'm expecting the Kiwi to weaken in the near term - 1) We are currently in a 6th swing, thus we are expecting one more move lower since this is not a complete swing cycle; 2) Price has met the minimum fibonacci requirement for an expanding flat structure; 3) Price is currently at the top of the bearish channel; and 4) On the lower timeframe, price is also showing signs of exhaustion. With these simple technical analysis, I have a stronger bias in looking for shorting opportunities on NZDUSD rather than longing it. However, do take note that this are only my personal views and I may jolly well be wrong too :P So trade according to your plan and manage your risk ALWAYS! **Quiz - what other information or 'edge' can we get to enhance our analysis on the NZD?
Short
by KarYong
6
Long NZDUSD - Monthly BreakoutWith starting this Week, the NZDUSD have make a strong upward movement. Last Week the monthly lows from April have held. In my view, the upward movement has a good chance of breaking through the Month's highs from March and April. The Entry for Longpositions is good between 0.6990 - 0.7040 First Target 0.7100 and the next Target is round about 0.7240 This Trade is more a Position Trade over Days and the Risk/Win Ratio is very good. The Stop is good under the Daily lows, so that 0.6970, better is the Stop under the last Week Highs by 69.30 If we see a breakout over the Monthly Highs by 0.7050, it`s not bad to buy addional longs. Good Luck Michael
Long
by Michael_Frank
NZDUSD moving south?Analysis is based on multiple fibonacci plots: monthly, weekly, daily and hourly intervals. Short-term analysis: Please pay attention to the main trend and don't get scared of the short term noise. NZDUSD will move according to arrows visible on the plot it means there will be a chance to enter longs and shorts. Long-term analysis: In my perception NZDUSD is loosing momentum (daily/weekly) and will continue going down. Moreover, pattern of stock market from 1996 to 2001 looks very similar to what we have at the moment 2014 onwards - please have a look at monthly chart of NZDUSD. 1996 top price was 0.715 while bottom was reached at 0.391 in 2000 - ratio of -1.82 2014 top price was 0.882 if ratio is going to repeat itself then price may reach 0.48 I expect similar pattern in the next financial crisis. Nonetheless, NZDUSD is moving down already that could only mean we are already in hidden crash and there is more downwards move to come.
by Simon_says
NZD/JPY, DAY CHART, SHORT (18-FEB-2017)From the Price Action, there are more selling pressure than buying pressure in this consolidation pattern. From COT Report, For JPY, there are more non-commercial positions added to long side. From both Price Action and COT Report, there is confluence that NZD/JPY might go down further. Here are 2 trading plans for you: 1. When the price break the support level, short 2. If the price pull back to previous resistance level, wait for bearish signal to short
Short
by YongLiang