The upward movement of the NZD has begunExamining the red trend of the one-hour time frame, the New Zealand dollar has formed a floor head and shoulder pattern, which has now broken the resistance area of the neck line in the range of 0.6015-0.6008, and now it seems that the rate of May It can increase as high as the height of the pattern up to the Fibo range of 127.2% at the number of 0.6062.
NZDUSD
NZD/USD - Strong NFP NumbersGiven the robust NFP figures from last week, alongside the deteriorating job market in New Zealand and evident bearish technical analysis, it appears advantageous to consider a short position on NZD/USD.
The price remains below the 200-day moving average, indicating a downtrend, and has recently tested resistance at 0.60500. I am targeting a decline to 0.58800 as my take-profit level.
NZDUSD H1 | Falling to support?Based on the H1 chart analysis, we can see that the price has just reacted off our sell entry at 0.5975, which is an overlap resistance.
Our take profit will be at 0.5953, an overlap support level.
The stop loss will be placed at 0.5990, which is an overlap resistance level.
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Kiwi H4 | Potential bullish bounceThe Kiwi (NZD/USD) is trading close to a pullback support and could potentially bounce off this level to climb higher.
Buy entry is at 0.60181 which is a pullback support that aligns close to the 23.6% Fibonacci retracement level.
Stop loss is at 0.59750 which is a level that lies underneath a pullback support and the 61.8% Fibonacci retracement level.
Take profit is at 0.60942 which is a swing-high resistance.
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Trading Pty. Limited (www.fxcm.com):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
Stratos Global LLC (www.fxcm.com):
Losses can exceed deposits.
Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Could NZDUSD bounce from here?NZDUSD is falling towards an overlap support level which aligns with the 50% Fibonacci retracement and could bounce from this level to our take profit
Entry: 0.59903
Why we like it:
There is an overlap support level which aligns with the 50% Fibonacci retracement
Stop loss: 0.59404
Why we like it:
There is a pullback support level
Take profit: 0.60457
Why we like it:
There is a pullback resistance level
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
NZDUSD to turnaround from the downtrend?NZDUSD - 24h expiry
Price action looks to be forming a bottom.
Further upside is expected.
Risk/Reward would be poor to call a buy from current levels.
A move through 0.6050 will confirm the bullish momentum.
The measured move target is 0.6100.
We look to Buy at 0.6020 (stop at 0.5992)
Our profit targets will be 0.6090 and 0.6105
Resistance: 0.6050 / 0.6090 / 0.6100
Support: 0.6025 / 0.6020 / 0.6000
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Strifor || USDCAD-04/04/2024Preferred direction: SELL
Comment: The Canadian dollar also perfectly fulfilled its medium-term sell scenario, which we gave earlier. Here, as with AUDUSD , in the short term, the sell-priority remains, and a fall is expected towards the level of 1.34500 , where the nearest support is located. It should be noted that the instrument retains the prospect of falling to the level of 1.34000.
We identify two main scenarios for selling, mostly intraday. The likelihood that the seller will be aggressive is high.
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Strifor || AUDUSD-04/04/2024Preferred direction: BUY
Comment: Our medium-term target for the AUDUSD currency pair has been achieved. However, the short-term outlook remains in favor of the buyer, and growth is expected towards the level of 0.66500 . There are assumptions that the main competitors of the US dollar will, for the most part, strengthen against the American before the NFP , and during the release of data on the US labor market, the USD will most likely strengthen its position again. But the medium-term prospects are still not clear. We need to wait for a more transparent setup for a final conclusion.
Short-term growth in AUDUSD is expected in two scenarios, which can be found on the chart. Most likely, the buyer will behave quite aggressively to the level of 0.66500 .
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Strifor || AUDUSD-Mid-term viewPreferred direction: BUY
Comment: The aggressive behavior of buyers of the American currency forced the prices of the main competitors of the USD to decline at the beginning of the week. This affected the euro and pound to a greater extent, but the currencies of the Pacific region also sank. Nevertheless, we continue to adhere to the buy priority in the medium term, especially since we previously did not exclude another potential drawdown.
AUDUSD long is considered according to two main scenarios. Less likely, scenario №2 assumes growth from current prices, while scenario №1 assumes growth after a slight downward drawdown. It should be noted that purchases according to scenario №2 are already active, and continuing to accumulate a long position is a good step for today.
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Strifor || AUDUSD-Mid-term viewPreferred direction: BUY
Comment: Medium-term long sentiment for the AUDUSD currency pair remains. At the moment, we have active scenarios. Let us recall that we considered two scenarios simultaneously, i.e. gradually accumulating a long position. There may be another update on local lows, but the medium term is still very confident for buyers.
We are considering targets at the levels 0.66000 and 0.66500 .
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Heading into resistance?The Kiwi (NZD/USD) is heading towards an overlap resistance which has been identified as the pivot point. Could price potentially stall around this level before making a bearish reaction to drop lower towards the support level at 0.59392?
Pivot: 0.60304
Support: 0.59392
Resistance: 0.60940
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Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
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Potential bullish breakoutNZDUSD is showing a strong bullish momentum and could make a continuation to our take profit
Entry: 0.60263
Why we like it:
There is an overlap resistance level which aligns with the 50% Fibonacci retracement
Stop loss: 0.59425
Why we like it:
There is a pullback support level
Take profit: 0.61057
Why we like it:
There is a pullback resistance which aligns with the 61.8% Fibonacci retracement
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
NZDUSD: Short term buy opportunityNZDUSD has turned bearish on its 1D technical outlook (RSI = 42.582, MACD = -0.004, ADX = 53.918) as up until two days ago it was on the 2nd Bearish Wave of the 2024 Channel Down. This wave appears to have ended as the price hit and rebounded on the S1 level, posting so far two very strong green 1D candles. The pair may make one more Lower Low as on February 5th but shouldn't be much lower than the S1 level. We are aiming at a similar +2.48% rise to the LH (TP = 0.60850).
See how our prior idea has worked out:
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NZD/USD SELLERS WILL DOMINATE THE MARKET|SHORT
Hello,Friends!
NZD/USD is making a bullish rebound on the 1H TF and is nearing the resistance line above while we are generally bearish biased on the pair due to our previous 1W candle analysis, thus making a trend-following short a good option for us with the target being the 0.595 level.
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NZDUSD Potential DownsidesHey Traders, in today's trading session we are monitoring NZDUSD for a selling opportunity around 0.59800 zone, NZDUSD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.59800 support and resistance area.
Trade safe, Joe.
NZDUSD SELL | Day Trading AnalysisHello Traders, here is the full analysis.
I think we can soon see more fall from this range! GOOD LUCK! Great SELL opportunity NZDUSD
I still did my best and this is the most likely count for me at the moment.
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NZDUSD analysis elliot. Don't forget about stop-loss.
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P.S. I personally will open entry if the price will show it according to my strategy.
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