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.
NZD-USD
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.
HUGE Buy Opportunity NZD/USD There is a significant buying opportunity on the NZD/USD currency pair at the price level of 0.61800. Traders may view this as a favorable entry point to go long on NZD/USD, anticipating a potential upward price movement from this level. However, it is important to conduct a thorough analysis and consider other factors, such as market conditions and risk management, before making any trading decisions.
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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.
NZD USD - FUNDAMENTAL ANALYSISAn extended period of U.S. dollar depreciation is approaching.
The greenback could be relatively stable in the near term, as some additional Fed tightening combined with the potential for mildly unsettled markets could provide temporary support for the greenback. However, we expect the U.S. currency to come under pressure as aggressive Fed easing starts in Q4-2023. We forecast the trade-weighted dollar to soften 3% over the balance of 2023, and by a further 5% in 2024.
NZD USD - FUNDAMENTAL ANALYSISAn extended period of U.S. dollar depreciation is approaching.
The greenback could be relatively stable in the near term, as some additional Fed tightening combined with the potential for mildly unsettled markets could provide temporary support for the greenback. However, we expect the U.S. currency to come under pressure as aggressive Fed easing starts in Q4-2023. We forecast the trade-weighted dollar to soften 3% over the balance of 2023, and by a further 5% in 2024.
NZDUSD to see a higher correction?NZDUSD - 24h expiry
We expect a reversal in this move.
Price action looks to be forming a top.
A move through 0.6340 will confirm the bearish momentum.
Momentum is flat, highlighting the lack of clear direction.
The measured move target is 0.6250.
We look to Sell a break of 0.6340 (stop at 0.6370)
Our profit targets will be 0.6270 and 0.6250
Resistance: 0.6360 / 0.6370 / 0.6400
Support: 0.6340 / 0.6300 / 0.6250
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Nzd/usd short term swing trade Hello traders Nzd/usd has possible upside higher time frame suggests bullish condition we have seen sharp move up breaking 0.64680 institutional level and the market dropped 0.61420 to buy at a good price . price comes at that area to buy more price love that level we can target to fill up the void this can take sometimes or faster depending on how fast they want to get to the level we need to get that pull back . we just have to be patient .
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 to find support at previous resistance?NZDUSD - 24h expiry - We look to Buy at 0.6205 (stop at 0.6176)
Previous support located at 0.6200.
Previous resistance located at 0.6250.
Price action looks to be forming a bottom.
The trend of higher lows is located at 0.6100.
A move through 0.6250 will confirm the bullish momentum.
Our profit targets will be 0.6278 and 0.6298
Resistance: 0.6250 / 0.6275 / 0.6300
Support: 0.6225 / 0.6200 / 0.6175
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NZDUSD Potential Long Forecast | 3rd March 2023Fundamental Backdrop
1. Employment Change q/q which is a leading indicator of consumer spending increased from 0.5% to 0.8%. This shows that overall economic activity has increased.
2. Unemployment Rate maintained at 3.4% instead of the forecast of 3.5%. This shows that the overall economic health is stabilizing.
Technical Confluences
1. Next resistance at 0.62750
2. Support at 0.61800
Idea
Looking for price to continue bullish and head towards the next resistance at 0.62750
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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 Trade long-term based on this Channel Down.The NZDUSD pair is trading within a Channel Down pattern, having just broken below the 1D MA200 (orange trend-line). The short-term Resistance is the 1D MA50 (blue trend-line). The key here is the 0.60850 Support. As long as it holds, expect a rise back to the top of the Channel Down, with our target being at 0.63000. A closing below the 0.60850 Support, will be a sell signal for us, targeting the bottom of the Channel Down at 0.59000.
On the longer term, if the price breaks above Resistance 1, we'll target Resistance 2 at 0.65435. Only a break above the top of the 2 year Bearish Megaphone can justify more buying.
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NZDUSD: Inverse Head and Shoulders. Excellent buy.The NZDUSD pair is under the 1D MA50, in marginally bearish 1D technicals (RSI = 44.978, MACD = -0.001, ADX = 16.625) but over the 1D MA200 and with S1 just below it. However the long term pattern emerges as an Inverse Head and Shoulders, a technically bullish formation that shapes market bottoms. Consequently, this is a buy opportunity for us targeting R1 (TP = 0.65400) on the medium term.
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NZDUSD ✨ CPI News Trade ✨ q/qAn Anticipatory Analysis of Price Action
(5) TP3 @ 0.7100 (close trade)
(4) TP2 @ 0.6700 (shave 25%)
(3) TP1 @ 0.6450 (shave 25%)
(2) BSO @ 0.6225 📈⏳
(1) BLO @ 0.6105 📈⏳
ADDITIONAL INFO:
1️⃣ If the PA (Price Action) PB (pulls back) during the NZD News on Wednesday evening, we should be able to capture the UT (uptrend) with this Buy Limit Order
2️⃣However, if PA continues the UT, then we'll be "good to go" with the Buy Stop Order
3️⃣This is our first chance to profit. I picked this price because there is a wick-over-wick (8D) that may work as a pullback, so let's put some money in our wallets and chop off 25% of our investment at Take Profit 1
4️⃣This is our second chance to make a buck. I picked this price since there is a Major Resistance level (6D) that might work as a retracement, therefore we need more money in our wallets before PA arrives. An additional 25% will be shaved at Take Profit 2
5️⃣This is our third chance at making a profit. This is where we quit the ride, cancel all of our remaining buy positions at Take Profit 3, and prepare to short this thing since there is a Major Supply Zone @ 0.6715 (8D) that has a strong likelihood of reversing the trend to a short position
AUDNZD Outlook 17 April 2023Toward the end of last week, the AUDNZD retraced from the resistance level of 1.0810 to trade down to the 1.0740 price level which coincided with the upward trend line and was within the area of the 38.2% Fibonacci retracement level.
The price bounced from the trendline and has now broken above the resistance level as the AUDUSD and NZDUSD weakened on Friday.
While the price could consolidate or retrace briefly, further downside on the NZDUSD could see the AUDNZD continue to trade higher to retest the next resistance level of 1.0890.