NZD-USD
NZDUSD facing bullish pressure, potential for further upside!Price is facing bullish pressure as it continues to hold above both the ascending trendline and moving average support, in line with our bullish bias. We could potentially see price bounce at 1st support, in line with our 38.2% Fibonacci retracement, 61.8% Fibonacci extension and horizontal pullback support, and a further rise to 1st resistance, in line with 127.2% Fibonacci extension and horizontal swing high resistance.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
NZDUSD Short prior to RBNZ inflation expectations!NZDUSD has traded into resistance today prior to the RBNZ Inflation Expectations information, which shows the Royal Bank of New Zealands outlook at future inflation rates. Technically the pair is at a support resistance structure zone, performing a retest of a broker trendline, and the PPO is giving bearish divergence. We anticipate downside into the 0.7163 level.
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NZDUSD on a channel break 🦐NZDUSD after the recent highs break below the ascending channel.
The market is now testing the support area and according to Plancton's strategy if the price will break below we will set a nice short order.
––––
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> >4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
💡Don't miss the great sell opportunity in NZDUSD
Trading suggestion:
". There is still a possibility of temporary retracement to suggested resistance line (0.7167).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. NZDUSD is in a downtrend and the continuation of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 39.
Take Profits:
TP1= @ 0.7114
TP2= @ 0.7090
TP3= @ 0.7055
TP4= @ 0.7026
TP5= @ 0.7003
SL: Break Above R2
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💡Don't miss the great sell opportunity in NZDUAD
Trading suggestion:
". There is still a possibility of temporary retracement to suggested resistance line (0.7167).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. NZDUSD is in a downtrend and the continuation of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 36.
Take Profits:
TP1= @ 0.7114
TP2= @ 0.7090
TP3= @ 0.7055
TP4= @ 0.7026
TP5= @ 0.7003
SL: Break Above R2
❤️ 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 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 downtrendHigh, low, lower high, lower low!
That's what we need, so we can say that there is a downtrend.
Here we have all that and now we are expecting the next lower high and lower low.
That's why we will be looking for selling opportunities at the resistance zone.
Then we expect to see price breaking below the low and reaching the 0,7123!
Good luck!
NZDUSD facing bullish pressure | 27 Apr 2021Prices are facing bullish pressure from ascending trendline support and horizontal pullback support, in line with 50% FIbonacci retracement and 61.8% Fibonacci extension . Prices might push up further towards 1st resistance in line with horizontal swing high resistance, 127.2% Fibonacci retracement and 161.8% Fibonacci extension . If prices fall through 1st support, prices might take support from horizontal swing low support in line with 78.6% Fibonacci extension and 61.8% Fibonacci retracement . Ichimoku cloud is also below prices, showing a bullish pressure for prices.
NZDUSD facing bullish pressure | 27 Apr 2021Prices are facing bullish pressure from ascending trendline support and horizontal pullback support, in line with 50% FIbonacci retracement and 61.8% Fibonacci extension. Prices might push up further towards 1st resistance in line with horizontal swing high resistance, 127.2% Fibonacci retracement and 161.8% Fibonacci extension. If prices fall through 1st support, prices might take support from horizontal swing low support in line with 78.6% Fibonacci extension and 61.8% Fibonacci retracement. Ichimoku cloud is also below prices, showing a bullish pressure for prices.
NZDUSD facing bullish pressure, potential for bounce!Prices are facing bullish pressure from ascending trendline support and horizontal pullback support, in line with 50% Fibonacci retracement and 61.8% Fibonacci extension. Prices might push up further towards 1st resistance in line with horizontal swing high resistance, 127.2% Fibonacci retracement, and 161.8% Fibonacci extension. If prices fall through 1st support, prices might take support from horizontal swing low support in line with 78.6% Fibonacci extension and 61.8% Fibonacci retracement. Ichimoku cloud is also below prices, showing a bullish pressure for prices.
NZDUSD analysisNZDUSD is currently in a confirmed uptrend and now it's about to breakout of its next resistance.
This could be an entry opportunity for us to get in the direction of the trend.
The resistance we are looking at is the zone of the previous highs 0,7518-30.
In case of a breakout the uptrend will be confirmed and we would expect next significant levels reached.
We recommend for entries to be made after a breakout and a retest of the zone.
You could also use a candlestick pattern formation for more specific entry signal.
Good luck!
NZDUSD - Close To Entry ✅As we're anticipating strong USD, we could see this move down. We are also bearish on NZD, which could make this a really good SHORT!
Goodluck and trade safe!
NZDUSD - Close To Entry ✅As we're anticipating strong USD, we could see this move down. We are also bearish on NZD, which could make this a really good SHORT!
Goodluck and trade safe!
What do you thinkThe analysis was done in four hours, but we came to an hour time to see what was going to happen. What is your idea?
NZDUSD will move higher 🦐NZDUSD after the recent lows is moving above the previous resistance zone.
The market is now retesting the structure and according to Plancton's strategy if the price will break and close above we will set a nice long order.
––––
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> >4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
NZDUSD facing bearish pressure, potential for further downside!Price has just seen a bearish breakout from the ascending trendline support-turned-resistance, and is now holding below both the moving average and descending trendline resistance, showing bearish pressure. We could potentially see further downside below 1st resistance, in line with 38.2%, 50% Fibonacci retracement, 78.6% Fibonacci extension and descending trendline resistance, towards 1st support, in line with 50% Fibonacci retracement, 100% Fibonacci extension and horizontal swing low support.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
How I work in Forex: Nzd-Usd analysisIn this article, I show you my way of working in Forex, starting with the choice of the currency pair, passing through all aspects of the operation (position size, maximum loss, etc.), until the analysis of the currency pair and the strategy to be adopted (entry-level, stop-loss and target).
Looking at the table of currency pairs I follow, the one that caught my eye was Usd-Nzd. The price is at a level that is not sustainable in the long run for the New Zealand economy. In the last few years, the area 0.72300/0.72800 has been a very important level for Nzd-Usd and above that, the currency pair would be in an area of excess price (actually, already above 0.70000 Nzd-Usd is in an area of excess price).
The operation that I am going to open has an optical of the medium-long period, if you are not in a position to hold open the position also for several months, do not replicate it.
Let us proceed. The first thing I decide in each of my operations is how much I am willing to lose. My maximum loss is not equal for all the operations, with some more "particular" I have a smaller propensity to the risk. An example is precisely this operation. Although Nzd-Usd belongs to the currency pairs so-called "Majors," the New Zealand dollar is very similar to an "Exotic" currency, therefore with less volume and consequently more volatile and easily speculate. And besides, I already have other long positions on USD. For these reasons, I have decided that my maximum loss on the whole operation is $ 500, and based on the stop-loss, I will decide the position size to open.
I now analyse Nzd-Usd trying to understand how it might move in the coming weeks and establish the type of trade and the entry-level. Above, you can see the daily chart with the Nzd-Usd sensitive levels highlighted.
New Zealand had less impact from the covid-19 pandemic and this allowed its economy to be less affected. This led to a strong rise in its currency to the 0.75000 area against the US dollar. New Zealand, however, has a strongly export-based economy and a currency so strong, as mentioned earlier, is not sustainable in the long run.
The New Zealand dollar also strengthened as many expected the central bank to intervene with a rate hike, "the Committee agreed that the risks to the economic outlook remain balanced, conditional on ongoing stimulatory fiscal and monetary policies. The Committee agreed that, in line with its least regrets framework, it would not remove monetary stimulus until it had confidence that it is sustainably achieving the consumer price inflation and employment objectives. Given that uncertainty remains elevated, gaining this confidence is expected to take considerable time and patience."
However, this is currently unlikely, at least in the short term. Also because in recent months the New Zealand economy has slowed down, "Economic activity in New Zealand slowed over the summer months following the earlier rebound in domestic activity. December quarter GDP was weaker than expected and more recent indicators suggest that momentum has reduced. Some members noted that supply chain disruptions could potentially constrain domestic activity in the near term. In addition, business credit growth and investment remain subdued."
As for the US, the focus in recent weeks has been on inflation following the entry into force of Biden's economic stimulus plan, "with inflation running persistently below this longer-run goal (2%), the Committee will aim to achieve inflation moderately above 2 per cent for some time so that inflation averages 2 per cent over time and longer‑term inflation expectations remain well-anchored at 2 per cent."
In the March "Summary of Economic Projections," the PCE inflation forecast for 2021 rose to 2.4% from 1.8% in December, and the Core PCE inflation forecast rose to 2.1% from 1.8% in December. Inflation is forecast at 2.0% in 2022 and 2.1% in 2022 for both. In the same document, you can see (you can find it on the Federal Reserve's website) that in March compared to December the GDP forecast was raised (to 6.5% in 2021 from 4.2% in December) and the unemployment rate lowered (to 4.5% in 2021 from 5.0% in December).
Macroeconomic analysis shows what has already emerged above with New Zealand's data deteriorating in recent months while US data is improving almost steadily. If the vaccination continues apace, the US economy will recover quickly, as the UK economy is doing in Europe.
Once the analysis is complete, how do I intend to proceed? I do not want to open the operation at once. The moment is particular and I would not be surprised to see Nzd-Usd go up even 300 pips. So, I decided to open a spy order at 0.72400 to see how the currency pair will react to that level.
I will place the primary order, which is larger in size as it is closer to the stop-loss, at 0.73700. For both orders, spy order and primary order, I destine the same maximum loss, which I had decided to be $ 500, so my maximum loss for the two types of orders is $ 250 each. Now with the Value-at-Risk, I calculate the stop-loss and with the stop-loss, I calculate the size of the two orders.
To be precise, I use CVaR to calculate the stop-loss (it is all explained in my book on fundamental analysis in forex) and the calculation gives me a stop-loss at 0.75200. I now calculate the two position sizes.
Ultimately, I will open a short position of $ 9,000 at 0.72400 (spy order) and a short position of $ 17,000 at 0.73700 (primary order), with a stop-loss at 0.75200. As for the target, I always like to see how the currency pair moves to assess where to take profit.
This, somewhat summarised, is how I work in Forex, how I analyse a currency pair and how I organise the whole operation.
NZDUSD will move higher 🦐NZDUSD after the recent lows is moving to the resistance zone .
The market has now moved above the 0.71 area and according to Plancton's strategy if the price will break the structure we will set a nice long order.
––––
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> >4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
