NZDUSD Potential DownsidesHey Traders, Today, we are closely monitoring the NZDUSD currency pair for a potential selling opportunity around the 0.61900 zone. Previously, NZDUSD had been experiencing an uptrend but has recently broken out of that trend. Currently, it is in a correction phase and approaching the 0.61900 support and resistance zone.
It is worth noting that an important event is scheduled for today, namely the FOMC (Federal Open Market Committee) meeting. The FOMC plays a significant role in setting monetary policy in the United States, and their decisions can have an impact on the strength of the USD. If the Fed takes a hawkish stance during this meeting, indicating a likelihood of future interest rate hikes, it could potentially trigger USD strength.
As traders, it is essential to consider various factors when evaluating trading opportunities. This includes conducting technical analysis, which involves analyzing price charts, patterns, and indicators to identify potential entry and exit points. Additionally, fundamental analysis is crucial, considering economic indicators, news events, and central bank decisions like the FOMC meeting. Lastly, market sentiment, which reflects the overall attitude and confidence of traders and investors, should also be taken into account.
However, it's important to remember that trading always carries inherent risks, and prices can be influenced by unexpected events or factors. Therefore, it is advisable to have a well-defined trading plan in place, including risk management strategies.
Trade safe, Joe.
NZD-USD-SELL
NZDUSD Potential rejectionHey Traders, in today's trading session we are monitoring NZDUSD for a selling opportunity around 0.61150 zone, NZDUSD is trading in a downtrend and currently is in a correction phase in which it is approaching an important supply area of 0.61150 zone, i would also keep an eye on the stock market to confirm the bias as NZDUSD does correlate in a positive way with indices.
trade safe, Joe.
NZDUSD Breakout and Potential RetraceHey Traders, in tomorrow's trading session we are monitoring NZDUSD for a selling opportunity around 0.613 zone, NZDUSD was trading in an uptrend and successfully managed to break it out. Currently NZDUSD is in a correction phase in which it is approaching the retrace area at 0.61300 support and resistance zone.
Trade safe, Joe.
NZDUSD Potential DownsidesHey Traders, in today's trading session we are monitoring NZDUSD for a selling opportunity around 0.60300 zone, NZDUSD is trading in a downtrend and currently seems to be in a correction phase in which it is approaching the major trend at 0.60300 support and resistance zone.
Trade safe, Joe.
NZDUSD Potential DownsidesHey Traders, in tomorrow's trading session we are monitoring NZDUSD for a selling opportunity around 0.62700 zone, NZDUSD was trading in an uptrend and currently seems to be attempting to break it out, if we get dips below 0.62700 support we will look for a potential retrace of the trend towards more lows.
Trade safe, Joe.
NZDUSD Breakout and Potential RetraceHey Traders, in today's trading session we are monitoring NZDUSD for a selling opportunity around 0.62400 zone, in above chart we have a break out of NZDUSD trend due to USD strength over commodities, currently we will be watching a potential retrace of the trend from 0.62400 resistance.
Trade safe, Joe.
NZDUSD:DXY pullbacks before further strength?Hey Traders, in today's trading session we are monitoring NZDUSD for a selling opportunity around 0.626 zone, NZDUSD is trading in a downtrend and currently seems to be in a correction phase in which it is approaching the major trend at 0.626 support and resistance zone.
Trade safe, Joe.
NZDUSD Potential DownsidesHey Traders, in tomorrow's trading session we are monitoring NZDUSD for a selling opportunity around 0.62100 zone, NZDUSD was trading in an uptrend and successfully managed to break it out. Currently we are waiting for a correction to see a potential retrace of the trend from 0.62100 support and resistance zone.
Trade safe, Joe.
NZDUSD Potential DownsidesHey Traders, in today's trading session we are monitoring NZDUSD for a selling opportunity around 0.62 zone, NZDUSD was trading in an uptrend and currently seems to be attempting to break it out with a current bullish DXY, if we get any dips below the support we would be looking for a potential retrace of the breakout from 0.62 support and resistance zone.
Trade safe, Joe.
NZDUSD Potential DownsidesHey Traders, in today's trading session we are monitoring NZDUSD for a selling opportunity around 0.63700 zone, NZDUSD is trading in a downtrend and currently seems to be in a correction phase in which it is approaching the major trend at 0.63700 weekly supply and demand zone.
Trade safe, Joe.
NZDUSD Potential DownsidesHey Traders, in today's trading session we are monitoring NZDUSD for a selling opportunity around 0.63 zone, NZDUSD is trading in a downtrend and currently seems to be in a correction phase in which it is approaching the major trend at 0.63 support and resistance zone.
Trade safe, Joe.
NZDUSD Potential DownsidesHey Traders, in today's trading session we are monitoring NZDUSD for a selling opportunity around 0.61900 zone, NZDUSD was trading in an uptrend and successfully managed to break it out and now seems to be in a correction phase in which it is approaching the retrace zone at 0.619 support and resistance area. Fundamentally the market is pricing another rate hike in early May which should trigger some dollar strength especially after a bunch of Feds hawkish comments.
Trade safe, Joe.
NZDUSD Potential DownsidesHey Traders, in today's trading session we are monitoring NZDUSD for a selling opportunity around 0.621 zone, NZDUSD is trading in a downtrend and now seems to be in a correction phase in which it is approaching the major trend at 0.62 support and resistance zone. once bears are confirmed i would consider the channel support as a target keeping an eye also on the coming FOMC early May.
Trade safe, Joe.
NZDUSD Potential downsidesHey traders, in today's trading session we are monitoring NZDUSD for a selling opportunity around 0.616 zone, NZDUSD is trading in a downtrend and now seems to be in a correction phase in which it is approaching the major trend at 0.616 zone, we would also consider potential USD longs ahead of the coming Fomc as the market is expecting further rate hikes with the recent feds hawkish comments.
Trade safe, Joe.
NZDUSD:Approaching an important resistance zoneHey Traders, As DXY shows some strength i would love to consider Potential USD longs against commodity currencies like NZD, and as the stock market shows some downsides NZDUSD should be a perfect catch for the positive correlation between the two.
Technically we have noticed that NZDUSD is approaching 0.627 supply and demand zone so i will be watching a potential reversal from the trend. in case the rejection is confirmed i would set 0.613 as a target as it's considered the next major support zone NZDUSD will be facing.