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NZDUSD

Strifor || GBPUSD-10/04/2024Preferred direction: Neutral Comment: The British currency perfectly worked out the scenario that we set at the beginning of the week, and all long trades were closed. At the moment, short-term strengthening is expected for the instrument, including, most likely, during the US CPI . However, just like the euro , a fall is expected here in the longer term. Particular attention will be focused on the level of 1.27000 after the publication of inflation data in the United States. Additional comments on this trade will be provided as situation changes. Follow us! Thank you for like and share your views!
by Strifor
1
Strifor || EURUSD-10/04/2024Preferred direction: Neutral Comment: According to the settings that we outlined at the beginning of the week, we continue to hold the euro long, but note that most of the profit has already been recorded, and the trade has been moved to breakeven. This also applies to other majors that we considered as part of the medium-term weakening of the US dollar . Today is one of the most significant events of the week, namely the US CPI . The euro is expected to strengthen against the US dollar during the release of inflation data. However, more global prospects are more in favor of the seller and the likelihood of a reversal downward from the level of 1.09000 is high. In this case, we can expect a fall to at least 1.08000. Additional comments on this trade will be provided as situation changes. Follow us! Thank you for like and share your views!
by Strifor
1
Potential bearish dropNZD/USD is rising towards a resistance level which is an overlap resistance which aligns with the 23.6% Fibonacci retracement and could reverse from this level to our take profit Entry: 0.59910 Why we like it: There is an overlap resistance level which aligns with the 23.6% Fibonacci retracement Stop loss: 0.60459 Why we like it: There is an overlap resistance level which is slightly above the 61.8% Fibonacci retracement Take profit: 0.59394 Why we like it: There is a pullback support 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.
Short
by VantageMarkets
NZD/USD Dynamics Ahead of RBNZ Meeting and US CPI ReleaseAs the NZD/USD pair hovers around 0.6042, traders are closely monitoring its price action amid a backdrop of technical indicators and impending fundamental events. Recent movements suggest a potential continuation of the bearish trend, characterized by a convergence of factors including Fibonacci levels, RSI divergence, and a looming RBNZ meeting. The NZD/USD pair has shown signs of recovery in the past day, yet remains entrenched within a bearish trend. A notable divergence in the RSI on the H4 timeframe, in conjunction with the 38.2% Fibonacci level, indicates potential weakness in the pair's upward momentum. Additionally, the presence of a bearish order block, denoted by a red rectangle, suggests a possible local double top scenario, reinforcing the bearish sentiment. Attention turns to the Reserve Bank of New Zealand (RBNZ) monetary policy meeting scheduled for Wednesday. Market expectations lean towards the RBNZ maintaining its cash rates at 5.5% for the sixth consecutive meeting, with emphasis placed on the need to sustain restrictive policies to combat inflation. The RBNZ's cautious stance, particularly in light of concerns surrounding record immigration, is likely to impact the NZD/USD pair's trajectory. Furthermore, the NZD/USD pair's recent gains coincide with improved risk appetite ahead of the release of Consumer Price Index (CPI) data from the United States (US). Forecasts anticipate an uptick in headline CPI for March, while the core measure is expected to moderate. However, the US Dollar (USD) is striving to regain lost ground amidst prevailing market volatility, posing potential headwinds for the NZD/USD pair. In light of these factors, traders may consider adopting a cautious approach towards the NZD/USD pair. Monitoring key technical levels, such as the aforementioned Fibonacci retracement and RSI divergence, can provide valuable insights into potential price movements. Additionally, remaining attuned to developments surrounding the RBNZ meeting and US CPI release is essential for informed decision-making. Given the overall bearish bias, traders may explore short-selling opportunities, particularly following a local retest of key resistance levels. However, prudent risk management practices should be adhered to, with stop-loss orders placed to mitigate potential losses in the event of adverse price movements.
Short
by FOREXN1
1
Strifor || GOLD-10/04/2024Preferred direction: SELL Comment: The trading idea for gold , which was given at the beginning of the week, is still relevant in the middle of the week, when the market is looking forward to the publication of US inflation data . For gold , we are considering a medium-term outlook, which is highly likely to work out in favor of the seller. The most likely scenario №1 involves an entry near the level of 2380 . However, it should be noted that taking a short position from current levels is also relevant, but only within the framework of a conservative entry. The target for a fall is at level 2280 . There is potential for a fall even lower. Additional comments on this trade will be provided as situation changes. Follow us! Thank you for like and share your views!
OANDA:XAUUSDShort
by Strifor
1
Strifor || GOLD-Week StartingPreferred direction: BUY Comment: Metals continue to be in the top news amid a new all-time high for gold . This metal remains a strong buy-priority at the beginning of this week, and a new high is expected before the long-awaited correction. It should be noted that in the longer term, one can continue to accumulate a short position, following all the rules of risk and money management. Regarding the shorter term and especially the coming week, we will most likely see another strengthening of gold towards the level of 2400 . At the same time, towards the end of the week, after the publication of key data, we can expect the start of a correction. We have targets for the fall at the level of 2280 , but the level may change during the week. Additional comments on this trade will be provided as situation changes. Follow us! Thank you for like and share your views!
OANDA:XAUUSDShort
by Strifor
1
Strifor || AUDUSD-09/04/2024Preferred direction: BUY Comment: Medium-term long positions for the AUDUSD currency pair are active, according to our previous trading idea for this instrument. In addition, short-term prospects also encourage active purchases, and with the opening of the European session, one can take a closer look at longs, especially those who did not manage to enter earlier, as we wrote about in the previous trading idea for this instrument. The most likely scenario №1 assumes maximum growth from current prices. One can also consider entering through a pending order, placing it just above yesterday's and today's highs. Scenario №2 is unlikely, but we will also be ready to use it. We do not set the growth target above the level of 0.66458 . Additional comments on this trade will be provided as situation changes. Follow us! Thank you for like and share your views!
Long
by Strifor
3
Strifor || SILVER-Mid-term viewPreferred direction: SELL Comment: We continue to consider metals as part of medium-term sales, but there is no good reason to enter yet. Of course, one can gain a position with a small volume using a "step by step" system. In the short term, silver and gold are likely to strengthen again. Thus, silver will update the local maximum, and gold will update the historical maximum. The most likely scenario at the moment for silver is a movement towards the level of 28.50 , where we can expect the formation of a short entry point ( scenario №1 ). A more aggressive scenario from the point of view of the current buyer is scenario №2 , where price strengthening can be expected towards the level of 29.00. The target for a fall in medium-term sales as part of a corrective movement is located at the level of 27.00. Additional comments on this trade will be provided as situation changes. Follow us! Thank you for like and share your views!
OANDA:XAGUSDShort
by Strifor
1
Strifor || GBPUSD-Week StartingPreferred direction: BUY Comment: Visually, the technical situations for the euro and pound look as similar as possible to each other. Here, too, the buy-priority remains, and the nearest target for this week is located at the level of 1.27000 . The growth potential is even higher, but setting a target above the level of 1.28000 would be a rather aggressive setting. We have indicated the most likely price movement within scenario №1 on the chart. A less likely scenario №2 involves a preliminary re-testing of the support area at the level of 1.26000 . Additional comments on this trade will be provided as situation changes. Follow us! Thank you for like and share your views!
Long
by Strifor
1
Strifor || NZDUSD-09/04/2024Preferred direction: BUY Comment: The New Zealand dollar copies the situation with the Australian dollar. Here, we also continue to adhere to the previously outlined long scenario and have almost already reached the target at the level of 0.60713 . Today, it is relevant to consider short-term purchases with the same target at the level of 0.60713 . There are two scenarios for buying, and the strength of buyers allows the price to start growing as much as possible from current prices ( scenario №1 ). The probability of a preliminary rollback before growth is small, so we keep scenario №2 in our arsenal. It should be noted that tomorrow there will be a meeting of the RBNZ and a decision on the interest rate . Therefore, it is better not to delay with short-term trades and, if possible, close them before this event. Additional comments on this trade will be provided as situation changes. Follow us! Thank you for like and share your views!
Long
by Strifor
3
NZD/USD Rate Increases after the Decision of the Reserve BankNZD/USD Rate Increases after the Decision of the Reserve Bank of New Zealand This morning the Reserve Bank of New Zealand (RBNZ) decided to keep interest rates unchanged at 5.5%: → the decision to keep the interest rate at this high level is made for the sixth time in a row; → the RBNZ said rates should remain high for some time to ensure inflation is contained; → this decision was expected - all 25 economists in the Bloomberg survey predicted it. However, New Zealand's economy is in recession, with GDP contracting in four of the last five quarters — prompting market participants to speculate that the central bank will begin cutting rates in the second half of this year. The market reaction was a slight strengthening of the New Zealand dollar. Thus, the NZD/USD rate today rose to its April high. Technical analysis of the NZD/USD chart today shows that: → in 2024, there is some preponderance on the bearish side of the market, which is expressed by the formation of a downward channel (shown in red); → starting from the first of April, an upward impulse was formed (shown by blue lines), which allowed the price of NZD/USD to rise from the low of the year and reach the upper half of the red channel; The level 0.60777 looks like current resistance, since it: → previously provided support (shown by blue arrows); → acts as an obstacle to growth within the blue lines (shown by the red arrow), as evidenced by the action of the NZD/USD price on April 9-10. At the same time, the RSI indicator is in the overbought zone. From a technical analysis perspective, the market is vulnerable to a pullback. The further development of the dynamics of the NZD/USD exchange rate today will have an important impact (will be published at 15:30 GMT+3) on the news about the inflation level in the US, which we wrote about yesterday. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
by FXOpen
1
The Kiwi Is Getting Ready For A RecoveryThe Kiwi with ticker NZDUSD woke up last year with a strong reversal on daily chart after a completed larger, higher degree (A)-(B)-(C) correction in B/II, which can be signal for completed deep correction, especially after higher highs and higher swing lows formation up from November 2023 lows. In fact, there was also some nice accelerating price action through December, which looks like an impulse into wave (1), so more upside can be seen in 2024, ideally after current lower degree A-B-C retracement within wave (2) that can be coming to an end with strong support around 0.59 - 0.58 area. Well, if the Kiwi manages to recover back above channel resistance line and 0.6220 level, then we can easily confirm a bullish continuation.
Long
by ew-forecast
Kiwi Upbeat after the RBNZ Hold but US CPI LoomsNZD/USD reacted positively as the RBNZ kept rates again at 5.5%, appeared a little more worried about inflation than the last time and said it is necessary to maintain a restrictive stance to reduce price pressures. The move above the EMA200 gives it the opportunity to take out the 38.2% Fibonacci, but does not yet inspire confidence for further gains that would challenge 0.6217. RBNZ appears further form a pivot than its US counterpart, but the Fed has turned cautious around lowering rates and the three cuts scenario is being questioned. The RSI points to overbought conditions that can contain the upside and a rejection of the 38.2% Fibo would keep new 2024 lows in play (0.5938). 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 (trading as “FXCM” or “FXCM EU”), 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. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this video are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed via FXCM`s website: Stratos Markets Limited clients please see: www.fxcm.com Stratos Europe Ltd clients please see: www.fxcm.com Stratos Trading Pty. Limited clients please see: www.fxcm.com Stratos Global LLC clients please see: www.fxcm.com Past Performance is not an indicator of future results.
by FXCM
NZDUSD has a strong bullish momentum, could it rise further?Price has broken out of the resistance level which is a pullback resistance level and we could see a bullish continuation to our take profit Entry: 0.60437 Why we like it: There is a pullback resistance which aligns with the 23.6% Fibonacci retracement Stop loss: 0.59903 Why we like it: There is an overlap support level which align with the 61.8% Fibonacci retracement Take profit: 0.60958 Why we like it: There is a pullback resistance level which aligns with the 100% Fibonacci projection 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.
Long
by VantageMarkets
NZD/USD: Bearish Outlook and Entry StrategyResistance Level: NZD/USD faces a crucial resistance level, signaling a possible reversal. Harmonic Pattern: The formation of the XABCD harmonic pattern reinforces bearish sentiment. Anticipated Movement: A downward trajectory is expected, indicating a shift from bullish to bearish. Entry Strategy: Short position suggested upon breach of 4-hour lower high, entry near 0.60150. Risk Management: Set stop-loss at 0.60500 to mitigate potential losses. Take Profit Levels: TP-1: 0.59774, TP-2: 0.59400, TP-3: 0.59035. In summary, NZD/USD is poised for a downward movement, with entry and exit strategies outlined for traders' consideration.
Short
by trading_jupiter
NZ dollar climbs ahead of RBNZ rate decisionThe New Zealand dollar has posted considerable gains on Tuesday. In the North American session, NZD/USD is trading at 0.6065, up 0.54% and its highest level since March 21. The Reserve Bank of New Zealand meets early on Wednesday and it’s practically a given that it will hold the cash rate at 5.5%. This would mark the sixth straight time that the RBNZ maintains rates and prolongs its “higher for longer stance”. Investors will be interested in whether the RBNZ pushes back against market expectations of rate cuts – investors have priced in two cuts with a 70% probability of a third this year. The decision will not include updated economic forecasts or a news conference with Governor Orr, which could limit New Zealand dollar volatility around the meeting. The markets are being aggressive in their pricing of rate cuts, mainly due to a weak economy, as GDP has contracted in four of the past five quarters. However, high inflation is a key reason why the RBNZ is hesitant to signal rate cuts are coming. In the fourth quarter, the inflation rate was 4.7%, well above the upper limit of the 1-3% target band. New Zealand releases first-quarter CPI next week, and the release will be a key factor in the central bank’s rate policy. The RBNZ would prefer to have the Federal Reserve cut rates first, as this would boost the New Zealand dollar and weigh on inflation. The Fed has signaled rate cuts are coming but stronger than expected data, such as last week’s nonfarm payrolls, may lead the Fed to delay lowering rates. NZD/USD is testing resistance at 0.6060. Above, there is resistance at 0.6107 0.6000 and 0.5953 are providing support
by OANDA
Rising to pullback resistance; could it reverse?NZD/USD is rising towards a resistance level which is a pullback resistance and could reverse from this level to our take profit Entry: 0.60437 Why we like it: There is a pullback resistance level Stop loss: 0.60958 Why we like it: There is a pullback resistance level which aligns with the 100% Fibonacci projection Take profit: 0.59903 Why we like it: There is an overlap support 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.
Short
by VantageMarkets