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Nzd_usd

NZD/USD 60 min Bearish Head & Shoulders PatternWe have a Bearish Head and Shoulders pattern on the 60 min chart with RSI Divergence. I'm looking for price to come back up and test .6583 level. This correlates with the top of the right shoulder and 50% of the Shooting Star's wick on the Daily chart. The Renko bars also rejected this level. I'm putting my stop just above the swing high. Target one at the first structure level with the 50% Fib level .6517. My second target is the next structure level at the 88.6 Fib .6448, which also correlates with the 50% of the Spinning Top's wick on the Daily. Good luck trading out there.
Short
by ChrisThein
Short Weekly .618NU has been on a roll this past few weeks. Any pullback we have had has been met with a very bullish reaction. I think by the time the price reaches the .618 the 50MA will be close or around it and it should reject it sending it lower. NZD still has I believe another rate cut still looming and with the potential USD hike (which may or may not happen this year) I believe we will break to newer lows sometime in the future. This trade is a long ways off, but it looks good Short at .7150 Good Luck! Update status
Short
by ishstar
2
Channel resistance to be watched on kiwi dollar following RBNZTwo weeks ago, I suggested that the kiwi dollar could stop falling (after 12 consecutive weeks of declines against the US dollar) as a long term support at $0.65 was being tested. Prices are back up to $0.6515 just before the RBNZ rate statement later today. The consensus expects another 25 bp cut in the main refinancing rate to 3.00%. The latest cut took the markets by surprise in June, but I'm a bit skeptical of a strong movement downward this time around given that it may already be priced in (this doesn't necessarily mean that there will be a kiwi rally following the statement. To me, what really matters is the language in the press release. I don't expect much of a change from the June statement, but it is very likely that the RBNZ maintains an overall dovish stance with regards to inflation expectations given continued decline in commodities prices since June. The GlobalDailryTrade (GDT) price index (www.globaldairytrade.info) fell to all-time lows on 15 July, which may weigh further on New Zealand export prices. In the event that the RBNZ doesn't announce a rate cut today, I'll still maintain a fundamental bearish bias on the kiwi dollar and will look for any additional dovish information in the press release to support this view. As for technicals, so long as prices trade below $0.67 following the rate statement, short strategies may come back into play. If prices test the channel resistance (currently around $0.67) with rates unchanged, this is where I'd be looking for further dovish hints in the press release to really consider a short trade (initial target at $0.65 with stop above $0.6750). Conclusion : technicals and fundamentals may line back up following the RBNZ statement today, providing new opportunities to short the kiwi dollar.
Short
by ABRAK75
14
Shorting the kiwi dollar is a risky move at current levelsThe kiwi dollar has fallen for 11 straight weeks against the US dollar (12 for the British pound), and I have the vague feeling that we may see the NZD/USD initiate a corrective bounce starting this week. Prices gapped downward to hit $0.6641 last night and are currently trading at $0.6697. I'm waiting to see how the US dollar performs with the return of North American traders today, but it's clear to me that the NZD/USD currently offers a decent hedge for anyone who's long the US dollar and not wanting to cut decent positions on other currency pairs. Note that if this technical bounce doesn't take shape within the next 2-3 days, the NZD/USD will still have a major weekly support at $0.65/66. I'll be watching any signs of a market reversal in this price area. Conclusion : we need further information this afternoon before being able to really establish an agressif bullish stance on the kiwi dollar, but for the moment the NZD/USD is a good hedge for traders maintaining bullish bets on the US dollar. ***Please see my alert on the GBP/NZD () for a similar trading idea.
by ABRAK75
4
NZD/USD UP and DOWN scenario analysisThe fact that NZD/USD has reached major Support line on weekly + EMA 200 (on tradingview EMA is much higher i dont know why? on two other platforms is EMA 200 supporting weekly NZD/USD here it shows like break, check on your charts). Scenarios: 1. Here we can get agressive bearish 123 and retest of structure, it may be powerfull if it break that support ;) So always open 3 positions for 1 trade seperated and hold last lot open as long as possible. The fact that weekly candle is doji candle and we are close to ema 12 and 23 trendline we may get breakdown in day or two! You will have to enter it very agresseve because we already know that there are chances to trend change also price is making HH -> HL -> HH so be carefull, that retracment might become reversal. 2. Other scenario is that price will break up EMA 36 and major trendline. After we get both breaks we enter it on H4 123 setup or wait for daily 123 but it would take forever but is more conservetive. Feel free to comment & share & like Best regards :)
by AcademyInvestment
NZD/USD Exhausted And Going Down To Rest a Bit Or TwoNZD/USD is in a down trending channel and my bias is short (To take a look at the one related idea). Bases :Bias, Channel, Stochastic RSI SHORT SETUP IF price reaches 0.86962 THEN i will go short, and place my tp order at 0.86459, but sl order at 0.87151 ____________________ Signls IF This Stochastic RSI crosses the 80 oversold zone it will be a bearish signal. ____________________________________ Specifications R:R (ratio) 1.45 Time about 2h-7h Thank you all for viewing if you like my stuff and want more you can look at it follow me and like my ideas. And as always wish you to strike it lucky.
Short
by Wizard
2