NZDUSD Is Bearish! Short!
Take a look at our analysis for NZDUSD.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 0.600.
Considering the today's price action, probabilities will be high to see a movement to 0.587.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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NZDUSD
NZD/USD SENDS CLEAR BEARISH SIGNALS|SHORT
Hello,Friends!
Previous week’s green candle means that for us the NZD/USD pair is in the uptrend. And the current movement leg was also up but the resistance line will be hit soon and upper BB band proximity will signal an overbought condition so we will go for a counter-trend short trade with the target being at 0.583.
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NZDUSD
1. **Currency Pair and Timeframe:**
- The chart represents the NZD/USD currency pair.
- The x-axis corresponds to time, spanning from late February to early June.
- The y-axis represents the exchange rate value in USD.
2. **Chart Features:**
- The main feature is a blue line graph that depicts the fluctuations in NZD/USD's value over the specified timeframe.
- Annotations are present at specific points on the chart:
- "LOWER HIGH" indicates a point where the exchange rate reached a lower high compared to previous peaks.
- "LOWER LOW" indicates a point where the exchange rate reached a lower low compared to previous troughs.
- Two trend lines are drawn:
- A white trend line suggests a potential upward breakout after May 13th.
- A yellow trend line anticipates a continuation of the downtrend.
3. **Highlighted Area:**
- There is a light blue area highlighted on the chart, indicating a particular focus or period of interest around mid-May.
NZDUSD What Next? SELL!
My dear friends,
Please, find my technical outlook for NZDUSD below:
The instrument tests an important psychological level 0.6026
Bias - Bearish
Technical Indicators: Supper Trend gives a precise Bearish signal, while Pivot Point HL predicts price changes and potential reversals in the market.
Target - 0.5982
Recommended Stop Loss - 0.6053
About Used Indicators:
Super-trend indicator is more useful in trending markets where there are clear uptrends and downtrends in price.
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WISH YOU ALL LUCK
Strifor || NZDUSD-10/05/2024Preferred direction: BUY
Comment: The New Zealand dollar is also considered in favor of a buyer in a short-term deal. The target is still at the level of 0.60713 . Both previously published scripts are already in production.
It should also be noted here that more medium-term prospects will most likely be in favor of the US dollar , and you should not count on big growth.
Additional comments on this trade will be provided as situation changes. Follow us!
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Strifor || USDCAD-10/05/2024Preferred direction: SELL
Comment: The Canadian dollar stands out from other majors today as Canadian labor market data is expected to be released. Previously, we adhered to sell priority and the targets for the previous trading idea can be considered closed.
Ahead of today's statistics, we remain bearish and highlight two main scenarios. Scenario №1 is a fall from current prices, that is, a continuation of the fall. If this option is not implemented, then most likely it is better to look for an entry point according to scenario №2 . We fix the target for sale at the level of 1.36000.
Additional comments on this trade will be provided as situation changes. Follow us!
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Strifor || AUDUSD-10/05/2024Preferred direction: BUY
Comment: In the second half of the week, the main trading instruments finally began to move in the directions we had previously indicated. For the Australian dollar, today we can expect the previously set target at 0.66460 . At the moment, both scenarios are activated, of course, the most effective, as expected, is scenario №2.
One can also consider a goal slightly above the level of 0.66460 , but one should not set the target too high, for example close to the level of 0.67000, as there is a high probability of a medium-term downward reversal.
Additional comments on this trade will be provided as situation changes. Follow us!
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Strifor || NZDUSD-07/05/2024Preferred direction: BUY
Comment: The New Zealand dollar is also seen in favor of buyers. Here, the expected growth according to the two scenarios is in many ways similar to the situation for the AUDUSD currency pair.
Here, too, the most likely scenario is an increase from current prices (scenario №1) . A less likely scenario involves a preliminary fall to 0.59857 (scenario №2) . We consider the growth target near the level of 0.60713.
Additional comments on this trade will be provided as situation changes. Follow us!
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Strifor || AUDUSD-07/05/2024Preferred direction: BUY
Comment: The current situation for the AUDUSD currency pair continues to develop in favor of buyers, and against this background, we are considering a short-term long from the level of 0.66000 . In the recent past, this level was the growth target for a medium-term deal. This level is currently support.
The most likely scenario №1 assumes an increase from current prices, and our target is at the level of 0.66460 . Scenario №2 is less likely. In this case, of course, one needs to be careful, as a sharp imbalance may be in favor of the seller.
Additional comments on this trade will be provided as situation changes. Follow us!
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Heading into overlap resistance?The Kiwi (NZD/USD) is rising towards the pivot and could reverse to the 1st support.
Pivot: 0.6084
1st Support: 0.5984
1st Resistance: 0.6082
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Kiwi H4 | Falling to pullback supportThe Kiwi (NZD/USD) is falling towards a pullback support and could potentially bounce off this level to climb higher.
Buy entry is at 0.5979 which is a pullback support that aligns with the 38.2% Fibonacci retracement level.
Stop loss is at 0.5950 which is a level that lies underneath a pullback support and the 50.0% Fibonacci retracement level.
Take profit is at 0.6037 which is a pullback resistance that aligns close to the 78.6% Fibonacci retracement level.
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the price is trading above the Ichimoku cloud NZDUSD LongThe buy zone seems solid as the price has been rejected multiple times in the past. I do notice that the price is trading above the Ichimoku cloud, which is a good sign of bullish momentum. Let's see how this plays out
Potential Trade Opportunity:
Currency Pair: NZDUSD
Position: long
Risk to Reward Ratio: 3R
Trade Parameters:
BUYLIMIT:
Entry Point: 0.60009
Stop Loss: 0.59961
Take Profit: 0.60157
Disclaimer:
This trade signal is provided for informational purposes only and does not constitute financial advice. Trading in the forex market involves substantial risk, and past performance is not necessarily indicative of future results. The provided entry, stop loss, and take profit levels are based on analysis at the time of publication, but market conditions may change rapidly, leading to losses. Traders should conduct their own research and consider their risk tolerance before executing any trades. We do not guarantee the accuracy or completeness of the information provided, and we shall not be liable for any losses incurred in connection with this trade signal. It is recommended to consult with a qualified financial advisor before making any investment decisions.
NZDUSD FOR A 200 PIP DOWNSIDE MOVE?We are interested in shorting NU for glaring reasons.
On the monthly weekly and daily timeframes, price is clearly trending to the downside. Price broke below 0.6000 and is now testing the level as resistance. As long as price does not break above 0.60, this trade idea remains valid.
There's a huge potential for 200 pips if this trade idea plays out. Our next level target is set at 0.58.
Strifor || GBPUSD-Week StartingPreferred direction: BUY
Comment: Buyers insist on growth for the GBPUSD currency pair, where we expect an approach towards the level of 1.26500 . The US dollar is likely to continue its downward correction at the beginning of this week, which in turn strengthens the main competitors of the American currency .
We are considering two main scenarios for this long trade, where the most likely growth according to scenario №1 assumes the strengthening of the British currency from current levels. It is unlikely that the instrument will need to roll back to 1.25346 , from where the pair will most likely go up as well (scenario №2).
Additional comments on this trade will be provided as situation changes. Follow us!
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NZD/USD BEARS ARE STRONG HERE|SHORT
Hello,Friends!
Previous week’s green candle means that for us the NZD/USD pair is in the uptrend. And the current movement leg was also up but the resistance line will be hit soon and upper BB band proximity will signal an overbought condition so we will go for a counter-trend short trade with the target being at 0.583.
✅LIKE AND COMMENT MY IDEAS✅
Weak US employment will help the New Zealand dollar riseWeak US employment will help the New Zealand dollar rise.
Examining the trend in the four-hour time frame, the New Zealand dollar/US dollar can rise to the upper level resistance of the Andrews fork in the 200% Fibo range at $0.6094, maintaining the important support interval in the range of 0.5984-0.5971.
Levels discussed on 7th May Livestream7th May
DXY: Needs to stay below 105.50 to remain bearish, range between 105 and 105.30, break 105 support to head down to 104.55.
NZDUSD: Buy 0.6025 SL 30 TP 50
AUDUSD: Sell 0.6570 SL 20 TO 45
USDJPY: Sell 153.80 SL 60 TP 170
GBPUSD: Sell 1.2530 SL 20 TP 60
EURUSD: Buy 1.0740 SL 20 TP 60
USDCHF: Could range between 0.90 and 0.9055
USDCAD: Sell 1.3685 SL 20 TP 70
Gold: Range between 2317 and 2325, double top formation, break 2316 to trade down to 2219