InvestMate|NZDU/USD Time for a correction💵NZDU/USD Time for a correction
💵Quick play
💵Quick play to make a correction in the medium-term uptrend after the double top breakout on the hourly interval
💵Input at current level
💵Stop order above double top
💵Take profit at 0.57334 which is the 0.382 fibo of the upward impulse wave
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NZD-USD
NZDUSD Potential for Bullish Momentum | 27th October 2022On the H4 chart, as the price is testing the descending trendline and the price is above ichimoku cloud, we have a bullish bias that the price may rise from the buy entry at 0.58148, which is in line with the previous swing high to the take profit at 0.59963, where the overlap resistance and 50% fibonacci retracement are. Alternatively, the price may drop to the stop loss at 0.56556, where the previous swing low and 61.8% fibonacci retracement are.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Meanwhile In New Zealand PT2NZD/USD retreats from a nearly two-week high set earlier this Thursday amid fresh USD buying. Bets for more aggressive Fed rate hikes and elevated US bond yields continue to boost the buck. Recession fears weigh on investors’ sentiment and also exert pressure on the risk-sensitive kiwi.
The NZD/USD pair struggles to find acceptance above the 0.5800 mark for the second successive day and retreats sharply from a nearly two-week high touched earlier this Thursday. The steady intraday slide extends through the mid-European session and drags spot prices to a fresh daily low, with bears eyeing a sustained break below the 0.5700 round figure.
A combination of factors helps revive the US dollar demand, which, in turn, is exerting some downward pressure on the NZD/USD pair. Investors seem convinced that the Fed will stick to its aggressive policy tightening path to tame inflation and have been pricing in another supersized 75 bps rate increase in November. The bets were reaffirmed by the recent hawkish comments by several Fed officials, which remain supportive of elevated US Treasury bond yields and continue to act as a tailwind for the USD.
NZD/USD Outlook (26 October 2022) Very similar to the AUDUSD, the NZDUSD is currently trading higher due to the weakness in the DXY. However, with no major news in the horizon for the NZD, the price movement is likely to be driven by the DXY and the AUDUSD.
As the price is trading higher along the upward trend line and approaching the 0.5811 resistance level, look for a potential break out to the upside.
If the price breaks above 0.5811, the next key resistance level is at 0.60
NZDUSD UpdateUpdate! Ok cool, looks like a Head and Shoulders pattern has been located where the circles are. The orange arrow shows price climbing on declining bull volume. Mac D is on top side. RSI is overbought and also could be creating a double top with a lower high which could be bearish divergence. Let's see if test the previous low RSI level. Price could continue to rise. However, it could exhaust down before a true move down.
NZDUSD Update If you saw my current outlook on the DXY, this pair could have some more room to go down if sentiment holds true. I exited this trade earlier today with 60 pips and wanted to play it safe when the market started pulling back. However, this one of my 4 tickers I trade so an update needs to happen. The RSI is not OS just yet but is close. MacD still on top side and bearish volume still looks to be strong. If you look at daily, you see the bullish volume coming down VERY slowly compared to stronger price movement to the upside. For this pair im pretty much just watching candles on the 1 and 4 hour to just track its until the 4 hour goes oversold then will try to update once i see another move or something. This isn't a good area to get it...again this is just a tracking update.
💡Don't miss the great buy opportunity in NZDUSDTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (0.5575).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. NZDUSD is in a range bound, and the beginning of an uptrend is expected.
. The price is below the 21-Day WEMA, which acts as a dynamic resistance.
. The RSI is at 67.
Take Profits:
TP1= @ 0.5627
TP2= @ 0.5673
TP3= @ 0.5727
TP4= @ 0.5764
TP5= @ 0.5805
SL= Break below S2
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💡Don't miss the great buy opportunity in NZDUSDTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (0.5575).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. NZDUSD is in a range bound, and the beginning of an uptrend is expected.
. The price is below the 21-Day WEMA, which acts as a dynamic resistance.
. The RSI is at 67.
Take Profits:
TP1= @ 0.5627
TP2= @ 0.5673
TP3= @ 0.5727
TP4= @ 0.5764
TP5= @ 0.5805
SL= Break below S2
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . Drop some feedback below in the comment!
❤️ Your support is very much 🙏 appreciated!❤️
💎 Want us to help you become a better Forex / Crypto trader?
Now, It's your turn!
Be sure to leave a comment; let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
NZDUSD SELL IDEANZDUSD like NZDCAD in my earlier analysis had been on a downtrend as well with so much correlation and we can spot that they both are reacting from the same supply zone which gives us a stronger confluence for a sell at this point.
So that being said we have marked out our zone a we are looking to see the market fall from there to create a new lower low.
Cheers!!!
Under Cover Trading
Swing Trading Simplified
NZDUSD Potential for Bearish Continuation | 21st Oct 2022On the H4, the price is below the ichimoku cloud and descending trendline, we can expect the price to drop from the sell entry at 0.5719, which is the previous swing high and key resistance to the take profit at 0.5548, where the swing low support is. Alternatively, the stop loss is at 0.58022, where the previous swing high, 100% fibonacci projection and 38.2% fibonacci retracement are.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
NZDUSDAt this point we will watch the 4 hour time frame. Gonna take notice on the 1 hour as well. Price action is still holding our sentiment. Although RSI isn’t oversold yet, we still want to play it safe. Waiting for some more candles to get more information and will also keep up with DXY to see if that strength continues or not. Will update on next move.
Joe Gun2Head Trade - Higher prices on NZDUSD?Trade Idea: Buying NZDUSD
Reasoning: Looking for higher prices in the short term.
Entry Level: 0.5682
Take Profit Level: 0.5805
Stop Loss: 0.5644
Risk/Reward: 3.24:1
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NZDUSD Potential for Bullish Rise | 18th October 2022On the H4, the price is breaking the ichimoku cloud and descending trendline, if the price can break the buy entry, we can expect the price rise to the take profit at 0.58022, where the previous swing high, 100% fibonacci projection and 38.2% fibonacci retracement are. Alternatively, the price may drop to the stop loss at 0.55544, where the swing low support is.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
NZDUSD Potential for Bullish Rise | 18th October 2022On the H4, the price is breaking the ichimoku cloud and descending trendline, if the price can break the buy entry, we can expect the price rise to the take profit at 0.58022, where the previous swing high, 100% fibonacci projection and 38.2% fibonacci retracement are. Alternatively, the price may drop to the stop loss at 0.55544, where the swing low support is.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
NZDUSD Potential for Bearish Continuation | 14th October 2022On the H4, the price is crossing the ichimoku cloud and RSI is rising over 50, we expect that the price may rise to test the sell entry at 0.56862, where the 50% fibonacci retracement is. After testing the 1st resistance, the price may drop to the take profit at 0.55338, which is in line with the swing low. Alternatively, the price may break the 1st resistance and rise to the s could be at stop loss 0.58022, which is in line with the 38.2% fibonacci retracement and overlap resistance.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
NZDUSD Potential for Bearish Continuation | 14th October 2022On the H4, the price is crossing the ichimoku cloud and RSI is rising over 50, we expect that the price may rise to test the sell entry at 0.56862, where the 50% fibonacci retracement is. After testing the 1st resistance, the price may drop to the take profit at 0.55338, which is in line with the swing low. Alternatively, the price may break the 1st resistance and rise to the s could be at stop loss 0.58022, which is in line with the 38.2% fibonacci retracement and overlap resistance.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
NZDUSD M30: Bullish outlook seen, limited upside above 0.55900On the M30 time frame, prices are approaching the support zone at 0.55900 which coincides with the 61.8% Fibonacci retracement level and ascending trend line. A throwback to this 0.55900 support zone presents an opportunity to play the bounce to the next resistance zone at 0.5650. This resistance zone is also a graphical resistance zone in line with the 78.6% Fibonacci extension. Prices are holding above the 50 EMA as well, supporting the bullish bias.