NZD
Eurnzd likely more downside, waiting for pullbacks**Find out more from my Tradingview Stream this week**
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NZDJPY Bullish after successful rebound.It has been a month exactly since we made this break-out signal on the NZDJPY pair:
The price has made a successful rebound at the bottom (Higher Lows trend-line) of the Bullish Megaphone pattern. As mentioned our buy break-out signal was when the pair closed a 1D candle above the Lower Highs trend-line. That coincided with a closing above the 1D MA50 (blue trend-line) for the first time since August 02.
Our first target remains 89.700 but we now set a second target as the peak of this run on the Fibonacci 2.0 extension at 91.350.
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EURNZD 24/9/23EN is by far the most simple setup we have here on this Sunday markup, a clear break of SWL structure giving us a bearish setup with good confluence, the C-Swing POI played us higher at the end of Fridays session so we should be able to grab the highs created by this move as we come into Sunday/Monday sessions, sells from our swing POI would be ideal as we always say, but for sure we are looking for some open entries to follow the possible counter trend move higher or even a trending move lower.
Remember to always read order flow and follow what price is showing you instead of trading based on your desired direction. And, as always, stick to your risk and your plan.
We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!
NZDCAD Potential DownsidesHey Traders, in tomorrow's trading session we are monitoring NZDCAD for a selling opportunity around 0.80700 zone, NZDCAD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.80700 support and resistance area.
Trade safe, Joe.
AUDNZD is attempting to break the descending channel.The price can retrace up to Fibonacci 61.8% before sustaining a break above the downtrend channel without consolidation.
Especially, the expectation of a rise below strengthens the AUD as a fundamental economic indicator. If the expected interest rate decision does not come out of the FED meeting as anticipated, and a somewhat moderate text is published, we may see an uptrend in AUD, along with gold and silver.
Open your trade in 2 parts. The first trade is for the short term, and the second trade is for the medium-term expectation. Enter the take profit levels below:
When the first trade reaches the take profit level, adjust the stop-loss level of the remaining medium-term trade to a profitable level to minimize your risk.
Open Price: 1.0866
Stop Loss: 1.0850
Take Profit 1: 1.0925
Take Profit 2: 1.0970
BUY GbpNzd from trend line bottomThe price is approaching the rising channel line, and at the same time, the Fibonacci 23.6% level intersects with the channel line. On the H1 and H4 charts, the 21-period RSI is in the overbought zone.
There is a high probability of the price encountering resistance to the upside from the intersection of the channel bottom and the Fibonacci 23.6%. This is supported by the upward movement in the RSI.
Additionally, the 100-day simple moving average supports the uptrend and acts as a resistance level for the price.
The New Zealand current account balance data, which was released a few hours ago, came in better than expected, leading to some strength in the NZD. However, the data is not likely to have a lasting or medium-term impact.
Pending buy order: 2.0780
Stop Loss: 2.0710
Take Profit: 2.0950
NZDJPY: Top-Down Analysis & Bullish Setup 🇳🇿🇯🇵
NZDJPY reached a key daily horizontal support.
The price nicely respected that and formed a double bottom pattern on an hourly time frame.
I anticipate a pullback from the underlined area at least to 0.88
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GBPNZD: Selling into confluence of supportsWe can see that GBPNZD has broken below the mid-point of the rising channel.
Looking for sells going into the BoE rate decision this week, with NZD generally strengthening and GBP generally weakening.
Depending on what happens on Thursday we we'll see either a break of a bounce off this point.
I'm targeting 2.072 initially, where I see confluence of the rising channel and horizontal support.
AUDNZD: Time To Buy 🇦🇺🇳🇿
AUDNZD is retesting a recently broken horizontal resitance.
The price formed a double bottom pattern on that on an hourly time frame.
Its neckline has just been broken.
I believe that it is a good moment to buy the pair now.
Goal - 1.0914
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NZDCAD Potential DownsidesHey Traders, in today’s trading session we are monitoring NZDCAD for a selling opportunity around 0.80200 zone, NZDCAD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.80200 support and resistance area.
Trade safe, Joe.
NZDUSD Potential DownsidesHey Traders, in today’s trading session we are monitoring NZDUSD for a selling opportunity around 0.59300 zone, NZDUSD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.59300 support and resistance area.
Trade safe, Joe.
NZDUSD Buy opportunity at the bottom of the Channel Down.The NZDUSD pair has been trading within a 8-month Channel Down since February and right now is staging the new rebound on its bottom (Lower Lows trend-line). The 1D RSI has been rebounding from the oversold zone on Higher Lows, while the candle action has been on Lower Lows, displaying a strong Bullish Divergence.
As a result, we have the ideal signals to go long and target the 0.618 Fibonacci level on a +4.35% rise at 0.61000.
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JPY getting weak across the boardas the JPY getting weak across the board , i am interested in adding three buy limits on three charts.
#NZDJPY Buy limit @87.02
SL @86.82
TP @87.78
Expected more than 3R
share your thoughts.
Disclaimer
The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts
AUDNZD Potential DownsidesHey Traders, in today’s trading session we are monitoring AUDNZD for a selling opportunity around 1.08 zone, AUDNZD was trading in an uptrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the trend at 1.08 support and resistance zone.
Trade safe, Joe.
EURNZD: Intraday Bullish Reversal 🇪🇺🇳🇿
EURNZD reached a strong horizontal support on Monday.
The price formed and inverted head and shoulders pattern on that,
bounced and violated a solid falling trend line.
It is an important sign of strength of the buyers.
The market may keep growing now.
Next resistance - 1.8274
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NZDCAD Potential DownsidesHey Traders, in today’s trading session we are monitoring NZDCAD for a selling opportunity around 0.80600 zone, NZDCAD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.80600 support and resistance zone.
Trade safe, Joe.