Nzdusddaily
A Huge Bearish Move Coming, Get Ready!#NZDUSD - As mentioned in Chart Small RANGE is very important.
If It Breaks Above - Possible Big Move to Upward.
And If it breaks the downside, Then It also needs to break Daily Strong Trend Line.
If both Break downside A Huge Bearish Move coming, Get Ready!
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NzdUsd to break up from rectangleIn my previous analysis on NzdUsd I said that I expect the pair to continue its range between 0.7250 and 0.7100. It seems this is not the case and USD is way too weak these days.
On Friday Kiwi reversed losses from 0.7180 and managed to close the day above 0.72
At the time of writing NzdUsd is 0.7240, just under the upmentioned resistance and I expect a break to the upside.
Such a break can lead to a new local high above 0.73 and 0.7350 could be the short term target for bulls
NzdUsd to maintain its range?In the past month and a half, NzdUsd traded in a range between 0.7250 and 0.7100 (ignoring the short-lived spike above 0.7250 at the beginning of the year)
With DXY looking ready for a new leg up I expect Kiwi to also roll back to at least the bottom of the range at 0.71.
Also a sell trade with this target can have a great R:R of more than 1:2
A daily close above 0.7250 would negate this scenario
NZDUSD, Bears Probably Get A Chance...!As salam alaikum
T.A Review:
Strong Doji on Monthly TF.
0.73 Seems to be holding.
Another Bearish Channel can be
seen.
All indicating Downward momentum.
I am expecting a bearish till 0.68-0.7
atleast.
F.A Review:
COVID-19 and Dollar strength might bring
Kiwi down. NFP might cause manipulations
as well and will surely decide the direction as well.
Is NzdUsd carving the right shoulder?In my previous analysis, I said that I expect NzdUsd to have found a medium-term top above 0.73 and the pair dropped from that zone. More, Kiwi also has broken under the channel's support and, at this point, we can consider the top confirmed.
Yesterday the 0.7150 zone offered support and the pair had a new attempt to reconquer 0.72.
At this point 0.7240 is resistance and a new leg down could follow.
Also, a drop under 0.7150 would confirm a H&S pattern and the target for sellers can be 0.7 important support
NzdUsd- Top in place?The last days of 2020 and the beginning of 2021 found NzdUsd in a strong bullish mood, with the pair gaining almost 5% in a very short time.
This new leg up looks exhausted and prices above 0.73 attract sellers like a magnet.
I believe a correction is just around the corner and, in my opinion, rallies towards 0.73 should be sold.
My target for such a trade is 0.7150 and even in a new high scenario I don't see much room to the upside for Kiwi