Bullish bounce off pullback support?NZD/USD is falling towards a support level which is a pullback support that aligns with the 61.8% Fibonacci projection and could potentially bounce from this level to our take profit.
Entry: 0.6178
Why we like it:
There is a pullback support that aligns with the 61.8% Fibonacci projection.
Stop loss: 0.6158
Why we like it:
There is an overlap support level which is slightly below the 100% Fibonacci projection.
Take profit: 0.6209
Why w like it:
There is a pullback resistance level.
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NZDUSD
Bullish bounce off pullback support?The Kiwi (NZD/USD) is falling towards a support level which has been identified as a pullback support and could potentially bounce to the 1st resistance.
Pivot: 0.6174
1st Support: 0.6156
1st Resistance: 0.6209
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Pre NFP Analysis7th June
DXY: Could break support at 104.00 (weak NFP data) but if it stays above 103.40 could rebound back up
NZDUSD: Sell 0.6205 SL 20 TP 65 (DXY strength)
AUDUSD: Sell 0.6705 SL 25 TP 70 (DXY strength)
USDJPY: Sell 154.50 SL 25 TP 70
GBPUSD: Buy 1.2830 SL 20 TP 55 (DXY weakness)
EURUSD: Sell 1.0880 SL 20 TP 70 (Hesitation at 1.0835)
USDCHF: Sell 0.88808 SL 30 TP 70 (DXY weakness)
USDCAD: Buy 1.3620 SL 20 TP 90 (CAD weakness DXY strength)
Gold: Needs to stay below 2385, could trade down from 2370 to 2350
NZDUSD 1H Short Trade - 1:6 RRRPair: NZDUSD
Action: Sell
RRR: 1:6
SL: 0.62053
TP: 0.60339
Indicators:
EMA200: The EMA200 serves as a critical indicator of the long-term trend direction.
MACD Trend: The MACD indicator helps traders assess the strength and direction of the trend.
Supertrend: The Supertrend indicator acts as a reliable tool for identifying entry points in alignment with the prevailing trend.
Kiwi H4 | Falling to overlap supportThe Kiwi (NZD/USD) is falling towards an overlap support and could potentially bounce off this level to climb higher.
Buy entry is at 0.6167 which is an overlap support that aligns with the 38.2% Fibonacci retracement level.
Stop loss is at 0.6141 which is a level that lies underneath an ascending trendline and the 50.0% Fibonacci retracement level.
Take profit is at 0.6221 which is a level that aligns with the 161.8% Fibonacci extension level.
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NZDUSD Bullish setups**Monthly Chart**
NZDUSD last month's candle closed bearish only to test liquidity near the previous swing low. This month candle opened near the close of the previous candle and started to move aggressively higher. If this move sustains then we will be looking for the next target around 0.6400 level and then 0.6600 (around 400 pips from where the price at).
**Weekly Chart**
Last week candle closed bullish as a continued move from the previous week. There were good buying opportunities on smaller time frames in the previous weeks. This week we will be looking for any trading opportunities on the retracements for good swing trades towards the next target.
**Daily Chart**
For the next two weeks, I will be looking for the price to retrace lower and provide buying opportunities. For selling opportunities, it will be short-term near the 0.6250 level if the price is unable to break the high. We might see a strength of the USD index for a short-term swing to the downside. But the main opportunity is for long setups as of now.
On 22nd May, there will be Red Folder news on NZD which might push the price of NZD pairs lower, then we will see how the market reacts to the news. Either way, it will provide a good trade setup for our next move.
Levels discussed on 5th June Livestream 5th June
DXY: Could range between 104 and 104.30, Looking to break 104.40 for further upside to 104.80
NZDUSD: Sell 0.6170 SL 20 TP 40
AUDUSD: Sell 0.6630 SL 15 TP 35
USDJPY: Buy 156.60 SL 30 TP 80
GBPUSD: Looking for reaction at 1.2820
EURUSD: Test and reject resistance, Sell 1.0875 SL 20 TP 40
USDCHF: Buy 0.8935 SL 20 TP 75
USDCAD: Buy 1.3690 SL 20 TP 90 (BoC Rate decision pending)
Gold: Below 2328 could trade down to 2318
Market Analysis: NZD/USD Could Continue HigherMarket Analysis: NZD/USD Could Continue Higher
NZD/USD is showing positive signs and might attempt a fresh increase above 0.6200.
Important Takeaways for NZD USD Analysis Today
NZD/USD is gaining pace above the 0.6145 support zone.
There is a major bullish trend line forming with support at 0.6170 on the hourly chart of NZD/USD at FXOpen.
NZD/USD Technical Analysis
On the hourly chart of NZD/USD on FXOpen, the pair started a steady increase from the 0.6085 zone. The New Zealand Dollar broke the 0.6130 resistance to start the recent increase against the US Dollar.
The pair settled above 0.6145 and the 50-hour simple moving average. It tested the 0.6200 zone and is currently correcting gains. The pair corrected lower below the 0.6170 level. The pair also traded below the 23.6% Fib retracement level of the upward wave from the 0.6088 swing low to the 0.6198 high.
The NZD/USD chart suggests that the RSI is still above 50 and signaling more upsides. On the downside, there is major support forming near 0.6170 and a trend line.
The next major support is near the 50% Fib retracement level of the upward wave from the 0.6088 swing low to the 0.6198 high at 0.6145.
If there is a downside break below the 0.6145 support, the pair might slide toward the 0.6130 support. Any more losses could lead NZD/USD in a bearish zone to 0.6088.
On the upside, the pair might struggle near 0.6200. The next major resistance is near the 0.6220 level. A clear move above the 0.6220 level might even push the pair toward the 0.6250 level. Any more gains might clear the path for a move toward the 0.6320 resistance zone in the coming days.
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NZDUSD Set To Fall! SELL!
My dear subscribers,
NZDUSD looks like it will make a good move, and here are the details:
The market is trading on 0.6188 pivot level.
Bias - Bearish
My Stop Loss - 0.6221
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish ) continuation.
Target - 0.6139
About Used Indicators:
The average true range ATR plays an important role in 'Supertrend' as the indicator uses ATR to calculate its value. The ATR indicator signals the degree of price volatility.
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WISH YOU ALL LUCK
Levels discussed on 4th June Livestream4th June
DXY: Could have found support at 104, retracing to around 104.20, looking for more downside below 104 could reach 103.60
NZDUSD: Buy 0.6195 SL 20 TP 60 (Hesitation at 0.6220)
AUDUSD: Sell 0.6640 SL 20 TP 45
USDJPY: Sell 155 SL 30 TP 115
GBPUSD: Sell 1.2760 SL 20 TP 50
EURUSD: Looking for reaction between 1.0870 and 1.08905
USDCHF: Look for reaction at 0.8895 support
USDCAD: Buy 1.3680 SL 20 TP 45
Gold: Below 2340 could trade down to 2320
NZDUSD WEEKLY UPDATEHello trader here is an update on NZDUSD as you can see the price has been bullish as was predicted in my setup weeks ago and now the price has reached a level of resistance so now I will wait for the price to break this level of resistance and turn it into support then I will add another buy trades. NB I am still holding my buys.
THIS IS NOT FINANCIAL ADVICE
NZDUSD tm:1hHello traders.
I hope you doing well.
These areas are based on my personal strategy and I will share it with you.
Open a sell position on the supply area or open a buy position on the demand area.
Your entry point, stop loss, and target point are based on money management and the amount of money in your trading account.
But I promise you that by trading in the areas of my trading strategy, you will definitely make a profit, because these areas, although they seem simple, are my experience of 8 years of learning and trading.
I hope you will achieve maximum continuous profit with me by using supply and demand areas.
Good luck traders.
Mohammad Goodarzi
Levels discussed on Livestream 3rd June3rd June
DXY: Break above 104.70 (38.2%) , trade higher towards 104.90 (61.8%)
NZDUSD: Sell 0.6130 SL 20 TP 40
AUDUSD: Sell 0.6625 SL 20 TP 65 (Hesitation at 0.6595)
USDJPY: Buy 156.75 SL 25 TP 60
GBPUSD: Sell 1.2680 SL 15 TP 35
EURUSD: Sell 1.0835 SL 20 TP 45
USDCHF: Buy 0.9040 SL 30 TP 60
USDCAD: Buy 1.3675 SL 20 TP 45
Gold: Could retest and reject 2330, and trade down to 2308
NZDUSD Trading IdeaBased on Simple Technical Analysis ( Trendline + Support & Resistance )
Risk Disclaimer:
Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are for educational purposes only. Any action you take on the information in these analysis is strictly at your own risk. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Good luck :-)
NZDUSD → Pre-breakdown consolidation. Next, 0.62?OANDA:NZDUSD breaks the bearish trend in early May and confirms the fact that bulls appear on the market. The fundamental background is positive and growth can be considered in the long term.
Earlier the price tested a strong descending resistance by a false breakdown. There was no proper reaction in the form of a change of trend or a strong fall. Consolidation is being formed. If the price continues to pull up to the upper boundary of the triangle on D1, the pre-breakout prospect will only intensify. On H1 it is worth paying attention to the range 0.6170 - 0.6083. Anything can happen on the background of the news, so it is worth watching the reakitsa of the ruck to the mentioned borders. A false breakdown of support before further growth is possible.
Resistance levels: 0.6170, 0.6217
Support levels: 0.6083, 0.6000
I expect that the trend may get its continuation. The market is extremely calm now, as there is strong news ahead that could determine the medium-term outlook
Regards R. Linda!
NZDUSD Set To Fall! SELL!
My dear subscribers,
NZDUSD looks like it will make a good move, and here are the details:
The market is trading on 0.6149 pivot level.
Bias - Bearish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation.
Target - 0.6110
About Used Indicators:
The average true range (ATR) plays an important role in 'Supertrend' as the indicator uses ATR to calculate its value. The ATR indicator signals the degree of price volatility.
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WISH YOU ALL LUCK
Levels discussed on 31st May Livestream31st May
DXY: Core PCE release today, Looking for reaction at 105 resistance
NZDUSD: Sell 0.6070 SL 20 TP 75
AUDUSD: Buy 0.6660 SL 20 TP 50
USDJPY: Buy 157.10 SL 30 TP 80
GBPUSD: Sell 1.2680 SL 20 TP 75 (Hesitation at 1.2345)
EURUSD: Sell 1.0780 SL 20 TP 50
USDCHF: Sel 0.9090 SL 20 TP 65
USDCAD: Buy 1.3690 SL 30 TP 40
Gold: Slight downside from 2338 to 2328
Strifor || NZDUSD-31/05/2024Preferred direction: SELL
Comment: The situation with the New Zealand dollar, as well as with the Australian dollar, forces us to freeze all purchases for now and consider more sales. We are targeting the support level of 0.60713 , which is where the approach is likely to come in the near future.
A more likely setup is a maximum drop from current prices, especially at the beginning of the American session (scenario №1). Less likely scenario №2 involves growth at the moment to 0.61670 , which may just happen against the backdrop of the publication of today's data. The target for the fall is level 0.60713 .
Additional comments on this trade will be provided as situation changes. Follow us!
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