Get started

Newzealanddollar

EURNZD Long-term sell. Can get ugly if this level breaks.This is a EURNZD analysis on the 1W time-frame as our most recent one on 1D is fulfilling the projection we made on June 16: The long-term pattern remains a Channel Down and our target the 1.5600 Support. Then we can consider buying near the Lower Lows (bottom) trend-line of the Channel with minimum risk and high return targeting the Internal Lower Highs (dashed) trend-line. The risk should be as minimal as possible as the slightest break below the Channel, would constitute an immediate sell signal and can open the way for a powerful sell-off. The reason is the the 1W RSI Lower Highs pattern resembles that of mid 2020 which pushed the price down to the 1.618 Fibonacci extension on Feb 22 2021. That is now at 1.45000. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
Short
by TradingShot
NZDCHF Wait for one last pull-back or buy the 1D MA50 breakThe NZDCHF pair has been trading within a Channel Down pattern since March 2021. It made its most recent Lower Low on July 01 2022 but since July 08 it has been consolidating sideways. This has caused the 1D MA50 (blue trend-line) to get very close. If it breaks, that would be a technical break-out buy signal. However as long as it fails to break, there are higher probabilities to buy lower. At least this is what took place on January 13 where after a near rejection, the price made one last pull-back to the Lower Lows (bottom) trend-line of the Channel and then emphatically rebounded for two months. The 1D RSI sequence tends to agree that we are replicating a similar price action. In both cases the target would be the red trend-line just below the Lower Highs (top) of the Channel. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
Long
by TradingShot
NZDCAD Testing the 1D MA50 and following exactly our planThe NZDCAD pair couldn't have traded better lately as it has been following exactly the trading plan we posted on June 17: As you see after a rebound to the 1D MA50 (blue trend-line) and rejection, the pair made a Lower Low exactly at the bottom of both the Bearish Megaphone and Channel Down patterns, which is where we advised for a buy. Since then has been slowly rising for the past 2 weeks and is now again testing the 1D MA50. A break above, justifies our expectation that all this price action since March has a mirror pattern of March - July 2021. The target is at least the 1D MA200 (orange trend-line). On the other hand, if the price gets rejected on the 1D MA50, be ready to take an opposite position and sell targeting the 2.0 Fibonacci extension, which is what took place on the December 30 2021 rejection. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
by TradingShot
NZDCAD: Classic Bullish Reversal 🇳🇿🇨🇦 So it turned out that NZDCAD formed an inverted head & shoulders pattern on a daily. The price has easily broken and closed above its neckline. I believe that it will initiate a strong bullish movement. The initial target will be based on a falling trend line. The second target is horizontal structure based - 0.8168. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Long
by VasilyTrader
3
GBPNZD targeting 2.010 after this pull-back is completedThe GBPNZD pair is trading below both the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line) for the past week. This is not an unfamiliar trading set-up as the same W pattern was last seen from October 2018 to October 2019. The last Lower High of the long-term Triangle pattern was on February 03 2022 so currently, in terms of RSI also, we are on the last pull-back before the final rally to complete the pattern. Our long-term target is the 0.786 Fibonacci retracement level at 2.010. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
by TradingShot
1
New Zealand Dollar Futures (6N1!), H4 Potential for Bullish RiseType : Bullish Rise Resistance : 0.63185 Pivot: 0.62505 Support : 0.61850 Preferred Case: On the H4, with prices moving within an ascending channel and above the ichimoku indicator, we have a bullish bias that price will rise to the pivot at 0.62505 where the overlap resistance is. Once there is upside confirmation that price has broken the pivot , we would expect bullish momentum to carry prices to 1st resistance at 0.63185 where the swing high resistance, 78.6% fibonacci retracement , 61.8% fibonacci projection and 161.8% fibonacci extension are. Alternative scenario: Alternatively, price could drop to the 1st support at 0.61850 where the overlap support and 78.6% fibonacci projection are. Fundamentals: No Major News
CME:6N1!Long
by Genesiv
Today’s Notable Sentiment ShiftsUSD – The dollar slipped to a one-week low against a basket of currencies on Monday, from the two-decade high hit last week, as traders pared bets on how aggressive the Federal Reserve would be in raising rates at its meeting later this month. NZD – New Zealand CPI jumped 1.7% in the second quarter, lifting annual inflation to a 32-year high of 7.3% and resulting in some analysts calling for more aggressive policy tightening from the RBNZ. Commenting on the report, Goldman Sachs noted that: “Today’s upside surprise clearly raises the risk that the RBNZ step up the pace of tightening at its August meeting – we see a 35% chance of a 75bp hike. However, with rates already at a modestly restrictive level of 2.5%, we think the bar for the RBNZ to accelerate the pace of tightening at this point in the cycle is relatively high – and will likely require clearer signs of a breakout in long-term inflation expectations rather than high spot inflation.”
TVC:DXY
by thunderpips
Today’s Notable Sentiment ShiftsCAD/BoC – The Bank of Canada raised rates by 100 basis points at its July meeting, its single biggest hike in 24 years. Furthermore, the central bank said more hikes would be needed. Commenting on their decision, BoC Governor Macklem said: “We had indicated we were prepared to be more forceful. Today was more forceful…Yes, it is a very unusual move to increase by 100 basis points at one decision and that really reflects the very unusual, exceptional circumstances that we find ourselves in.” NZD/RBNZ – The New Zealand dollar failed to get a lift on Wednesday after the RBNZ hiked rates by 50 basis points as expected and mostly stuck by its commitment to continue tightening policy “at pace”. Commenting on the meeting and future outlook, Capital Economics stated: “The committee acknowledged that clouds are appearing on the horizon. Our view remains that the ongoing housing downturn will weigh heavily on residential investment and constrain household spending, ultimately forcing the bank to stop hiking once the policy rate reaches 3.5% by year-end.”
by thunderpips
1
AUDNZD Channel Up vs Head and ShouldersThe AUDNZD pair has been trading within a Channel Up ever since the November 19 2021 Low. Two upper and lower tolerance levels of 1.236 and -0.236 have been accounted for. This time though, as the price is trading around the 1D MA50 (blue trend-line) since June 20, using it as a pivot, a new pattern has emerged. That is a Head and Shoulders (H&S). That is so far contained within the Channel Up but a break below it can see the price testing the 1D MA200 (orange trend-line) for the first time since January 17. Our trading plan is based on the break-out (candle close) approach. A break below the lower tolerance level of the Channel constitutes a sell signal towards the -1.0 Fibonacci extension (1.075), in which case the H&S pattern prevails. Until that happens, we continue being within the dominant Channel Up, hence bullish towards a new long-term Higher High near the 2.0 Fibonacci extension (1.1383). -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
by TradingShot
NZDJPY Inverse Head and Shoulders - Sell SignalThe NZDJPY pair has completed an Inverse Head and Shoulders (IH&S) pattern as it continues to trade on the 1D MA50 (blue trend-line). Technically this is a bearish reversal pattern. With the 1D RSI on Lower Highs similar to the November 2021 - Jan 2022 sequence that printed a Lower Low, we are expecting a similar sell-off. Our first target is the 1D MA200 (orange trend-line) and if broken, the 79.500 Support on the longer-term. This trade is invalidated if the price breaks above the Resistance Zone. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
Short
by TradingShot