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Nzdusdbreakout

NZDUSD dropping nicely towards our target, prepare for a bounceNZDUSD has dropped nicely towards our forecasted support target and we’re preparing for a potential bounce above this level (Fibonacci extension, long term 50% Fibonacci retracement, horizontal swing low support) and this could drive price all the way up to 0.7273 resistance (Fibonacci retracement, horizontal overlap resistance). Stochastic (234,5,3) is also seeing strong support above 3.9% where a corresponding bounce could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Tickmill
3
EURUSD has started to drop nicely, potential for further drop!EURUSD has started to drop really nicely after breaking our ascending support line and our Ichimoku cloud. We see potential for further downside movement below our major resistance at 1.2270 (breakout level, pullback resistance). Our next major level of support is at 1.2083 (Fibonacci retracement, horizontal pullback support). Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
2
NZDUSD has reached our resistance target,potential upcoming dropNZDUSD has bounced up perfectly from our 1st support and reached our major resistance from Friday. We’re now seeing major resistance at 0.7276 (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension) and a strong drop could occur from this level to push price down to at least 0.7186 support (Fibonacci extension, horizontal swing low support). Stochastic (21,5,3) is seeing major resistance at 95% where a corresponding reaction could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
1
NZDUSD starting to show signs of a bounce, remain bullishBuy above 0.7312. Stop loss at 0.7256. Take profit at 0.7436. Reason for the trading strategy (technically): Price continues to test our buying area and ascending channel support. We think that it might be doing a fake breakout now because RSI has not broken below 50% yet. We remain bullish above major support at 0.7312 (Fibonacci retracement, horizontal overlap support, long term ascending support, bullish price action) for price to continue its push up to at least 0.7436 resistance (major swing high resistance, Fibonacci extension). RSI (55) major support remains at 50% and only a clean break of that level would be a precursor that a drop is coming.
Long
by MEX_Exchange
1
NZDUSD continues to test major support, remain bullishBuy above 0.7312. Stop loss at 0.7256. Take profit at 0.7436. Reason for the trading strategy (technically): Price continues to test our buying area and ascending channel support. We think that it might be doing a fake breakout now because RSI has not broken below 51% yet. We remain bullish above major support at 0.7312 (Fibonacci retracement, horizontal overlap support, long term ascending support, bullish price action) for price to continue its push up to at least 0.7436 resistance (major swing high resistance, Fibonacci extension). RSI (55) sees a long term ascending support line since November 2017 hold up our bullish momentum really well. We’re starting to see a possible break of this long term support line but our major support remains at 51% and only a clean break of that level would be a precursor that a drop is coming.
Long
by MEX_Exchange
1
NZDUSD continues to bounce up really nicely, remain bullishBuy above 0.7312. Stop loss at 0.7256. Take profit at 0.7436. Reason for the trading strategy (technically): Price tested our buying area and ascending channel support and had bounced up really nicely as expected. We remain bullish above major support at 0.7312 (Fibonacci retracement, horizontal overlap support, long term ascending support, bullish price action) for price to continue its push up to at least 0.7436 resistance (major swing high resistance, Fibonacci extension). RSI (55) sees a long term ascending support line since November 2017 hold up our bullish momentum really well. We’re starting to see a possible break of this long term support line but our major support remains at 51% and only a clean break of that level would be a precursor that a drop is coming.
Long
by MEX_Exchange
1
NZDUSD approaching major support, prepare to buyBuy above 0.7312. Stop loss at 0.7256. Take profit at 0.7436. Reason for the trading strategy (technically): Price is approaching major support at 0.7312 (Fibonacci retracement, horizontal overlap support, long term ascending support) and a bounce could occur at this level to push price up to at least 0.7436 resistance (major swing high resistance, Fibonacci extension). RSI (34) sees a long term ascending support line since November 2017 hold up our bullish momentum really well.
Long
by MEX_Exchange
1
NZDUSD approaching channel support once again, potential bounceNZDUSD is approaching major support once again at 0.7239 (channel support, 50% Fibonacci retracement, horizontal swing low support) and a bounce could occur at this level pushing price up to at least 0.7328 resistance (Fibonacci extension, horizontal swing high resistance). Stochastic (21,5,3) is seeing major support above 1.9% where further bullish action could be expected. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Tickmill
1
NZDUSD back to resistance, possible strong reversal lining up!NZDUSD is back to testing our major resistance level at 0.7239 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance, bearish divergence, bearish price action) and a strong reaction could occur at this level to push price down to at least 0.7031 support (50% Fibonacci retracement, horizontal pullback support. It is worth noting that AUDUSD which is positively correlated with NZDUSD is also similarly below major resistance. Stochastic (55,5,3) is seeing major resistance at 98% and has seen a recent bearish exit along with divergence signaling that an impending drop could be happening soon. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
1
NZDUSD continues to form a reversal signal, remain bearish Sell below 0.7188. Stop loss at 0.7280. Take profit at 0.7041. Reason for the trading strategy (technically): Price continues to hover around our selling area and is forming a nice reversal signal with a strong shooting star candlestick formation signalling selling pressure. We are still unable to break through our ascending channel which would be the major trigger for our bearish move. For now, we remain bearish below major resistance at 0.7188 (Fibonacci retracement, horizontal overlap resistance, bearish divergence) and we expect price to push down to at least 0.7041 support (Fibonacci retracement, horizontal pullback support). Only a break of this channel would confirm further downside move. RSI (34) is testing major ascending support and is starting to break below it. Only a clear break of our ascending support would trigger a strong bearish drop on price.
Short
by MEX_Exchange
3
NZDUSD testing resistance, time to go shortSell below 0.7055. Stop loss at 0.7181. Take profit at 0.6822. Reason for the trading strategy (technically): Price is now starting to test major resistance at 0.7055 (Fibonacci retracement, horizontal overlap resistance) and we expect a strong reaction off this level to push price down to at least 0.6822 support (Fibonacci extension, horizontal swing low support). Stochastic (34,3,1) is seeing major resistance below 97% and we expect a strong drop from here.
Short
by MEX_Exchange
NZDUSD right on major support, prepare to sell on the breakoutSell below 0.6885. Stop loss at 0.6921. Take profit at 0.6823. Reason for the trading strategy (technically): Price is now testing major support at 0.6885 (Multiple Fibonacci retracement, horizontal overlap support, ascending channel support) and we expect a break of this level to trigger a strong bearish drop towards 0.6823 support (Fibonacci retracement, horizontal swing low support). RSI (34) is starting to see multiple bearish exits as a precursor to a drop we’re expecting.
Short
by MEX_Exchange
3
NZDUSD testing selling area, remain bearishSell below 0.6885. Stop loss at 0.6922. Take profit at 0.6823. Reason for the trading strategy (technically): Price continues to test our selling area. We remain bearish looking to sell on strength below major resistance at 0.6885 (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance, bearish price action) and we expect to see a corrective drop from here to at least 0.6823 support (Fibonacci retracement, horizontal overlap support). Stochastic (34,3,1) still has good downside potential for our drop. Correlation analysis: AUDUSD is similarly expecting a strong drop.
Short
by MEX_Exchange
10
NZDUSD testing selling area, remain bearishSell below 0.6885. Stop loss at 0.6922. Take profit at 0.6823. Reason for the trading strategy (technically): Price continues to test our selling area. We look to remain bearish below major resistance at 0.6885 (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance, bearish price action) and we expect to see a corrective drop from here to at least 0.6823 support (Fibonacci retracement, horizontal overlap support). Stochastic (34,3,1) is seeing major resistance below 89% where we expect a corresponding drop from.
Short
by MEX_Exchange
NZDUSD testing major resistance, prepare to sellSell below 0.7261. Stop loss at 0.7301. Take profit at 0.7208. Reason for the trading strategy (technically): Price is testing major resistance at 0.7261 (Multiple Fibonacci retracements, horizontal swing high resistance) and we expect to see a strong reaction from this level to push price down to at least 0.7208 support (Fibonacci retracement, horizontal pullback support). Stochastic (34,5,3) is seeing major resistance below 92% and we expect a corresponding reaction off this level.
Short
by MEX_Exchange
1H - NZD/USD The potential Kiwi trade. 1H - The NZDUSD was in a strong downtrend however that recently came to an abrupt end. It has tried to form an uptrend after that downtrend exit however that has come to a halt due to a strong resistant point which then led it to fall back onto the black line which has acted as a support for it. Because of this, we can see two potential trades, short or long. We must wait for a good entry to decide which position we shall take and that is for you to decide. If NZD fails to break the resistant line once again, we then may see downfall movement to the blue lines. However, if it breaks it, we can then see upwards movement. Look at shorter time frames to confirm your entry. There may be a higher chance of it being a long position due to the uptrend the Dollar has created on the 1H but may weaken due to political issues and the pair is also oversold on Stochastic. Please do your Fundamental analysis and check your economic calendars and do keep any eye out for this on Monday. Goodluck. Red lines for resistances Blue lines for supports
by youraveragetrader