Nzdusddaily
NZDUSD reached out target perfectly, prepare for a reaction!NZDUSD has shot up perfectly to our forecasted resistance. We’re now seeing major resistance at 0.7273 (Fibonacci retracement, horizontal overlap resistance) and a strong reaction could occur at this price to drive price all the way down to major support at 0.7185 (Fibonacci extension, horizontal swing low support).
Stochastic (34,5,3) is seeing major resistance at 96% 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.
NZDUSD right on major resistance, time to sellIntro: NZDUSD has made a pullback to major resistance, good opportunity to start selling.
Sell below 0.7277. Stop loss at 0.7308. Take profit at 0.7187.
Reason for the trading strategy (technically):
Price has made a pullback to our major resistance area at 0.7277 (Multiple Fibonacci retracement, horizontal overlap resistance) and we expect a strong reaction from this level to push price down to 0.7187 support (Fibonacci extension, horizontal swing low support).
Stochastic (34,5,3) is seeing major resistance below 95% where a corresponding reaction could occur.
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.
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.
NZDUSD potential for further drop, but require a recovery first.NZDUSD has continued to drop strongly since yesterday. It could potentially drop further from here but we would need to see some sort of recovery first towards 1st major resistance at 0.7276 (Fibonacci retracement, horizontal overlap resistance, breakout level). If price recovers to that area, then we could see a further drop towards 0.7183 support (Fibonacci extension, horizontal swing low support).
Stochastic (21,5,3) is seeing major support above 4.8% which could signal the intermediate recovery to push price back up to our resistance level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
NZDUSD profit target reached, prepare for a bounceIntro: We have reached our profit target on NZDUSD and now it’s testing major support. We look to buy for a bounce.
Buy above 0.7272. Stop loss at 0.7215. Take profit at 0.7374.
Reason for the trading strategy (technically):
Price has dropped perfectly towards our profit target and we’re seeing major support above 0.7272 (Fibonacci retracement, Fibonacci extension, horizontal overlap support, bullish divergence) where a bounce would push price up towards 0.7374 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,5,3) is seeing major support above 7.6% and also sees bullish divergence vs price signalling that a bounce is impending.
NZDUSD has bounced nicely, potential for another bounce!NZDUSD has bounced up really nicely from our major support and is now back down to test it again at 0.7306 (50% Fibonacci retracement, 61.8% Fibonacci retracement, Fibonacci extension, horizontal overlap support). Another bounce could occur above this level to push price up to 0.7374 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,5,3) has bounced nicely off our 5.4% major support and has good upside potential.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
NZDUSD testing strong support with a potential for a bounce!
NZDUSD is testing major support at 0.7306 (50% Fibonacci retracement, 61.8% Fibonacci retracement, Fibonacci extension, horizontal overlap support) and a bounce could occur above this level to push price up to 0.7374 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,5,3) is seeing strong support above 4.0% 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.
NZDUSD testing major support, prepare for a potential bounce!NZDUSD is testing our major support at 0.7336 really nicely (multiple Fibonacci retracement, horizontal overlap support) and a strong bounce could occur at this level to push price up towards 0.7428 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (34,5,3) is seeing strong support above 8.0% where a corresponding bounce could occur similar to what could happen with price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
NZDUSD reversing perfectly, remain bearish for a further dropSell below 0.7431. Stop loss at 0.7532. Take profit at 0.7256.
Reason for the trading strategy (technically):
Price has started to fall really nicely from our major resistance level at 0.7431 (Fibonacci extension, horizontal swing high resistance) and we expect further bearish momentum to push price towards 0.7256 support (Fibonacci retracement, horizontal swing low support).
Stochastic (34,5,3) is dropping nicely from our major resistance level at 95% and has good downside potential.
NZDUSD is testing major resistance, watch for a reversalSell below 0.7431. Stop loss at 0.7532. Take profit at 0.7256.
Reason for the trading strategy (technically):
Price is testing major resistance at 0.7431 (Fibonacci extension, horizontal swing high resistance) and a strong reaction could occur at this level to push price down towards 0.7256 support (Fibonacci retracement, horizontal swing low support).
Stochastic (34,5,3) is seeing major resistance at 95% where a corresponding reaction could occur.
NZDUSD right on major resistance, look to shortSell below 0.7283. Stop loss at 0.7349. Take profit at 0.7188.
Reason for the trading strategy (technically):
Price has since broken out of our descending channel but is testing key resistance at 0.7283 (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension, bearish price action). We remain bearish for a further push down to at least 0.7188 support (Fibonacci retracement, horizontal pullback support) from here largely because RSI has not made a move above our 51% resistance level yet.
RSI (55) remains below our 51% resistance meaning we should maintain our bearish bias. It’s important to watch for the break above 51% to signal a possible recovery.
NZDUSD testing new channel resistance, start sellingSell below 0.7283. Stop loss at 0.7349. Take profit at 0.7188.
Reason for the trading strategy (technically):
Price is now in a new descending channel and testing strong resistance. We remain bearish looking to sell below 0.7283 resistance (Fibonacci retracement, horizontal overlap resistance, channel resistance) for a further push down to at least 0.7188 support (Fibonacci retracement, horizontal pullback support).
RSI (55) is now below our 51% resistance level signalling that there’s a change in momentum to bearish.
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.
NZDUSD testing major support, upcoming potential bounce!
NZDUSD is testing major support at 0.7185 (Fibonacci retracement, horizontal overlap support, Elliott wave structure) and a strong bounce could occur at this level to drive price up to at least 0.7276 resistance (Fibonacci retracement, horizontal pullback resistance).
Stochastic (34,5,3) is seeing major support above 5.4% 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.
NZDUSD broke out major support level, watch for a possible drop!NZDUSD is starting to break our major support-turned-resistance level at 0.7276 and a strong drop could occur from here to push price towards 0.7184 support (Fibonacci retracement, horizontal overlap support). We require a stronger close below our 1st support level at 0.7276 to add further conviction to the bearish setup.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
NZDUSD broken major support, prepare for the dropSell below 07283. Stop loss at 0.7349. Take profit at 0.7188.
Reason for the trading strategy (technically):
Price has finally broken our major support-turned-resistance level at 0.7283 (Fibonacci retracement, horizontal swing low support) triggering a bearish move to 0.7188 support (Fibonacci retracement, horizontal pullback support).
RSI (34) sees a bearish exit of our long term ascending support-turned-resistance line and also a break below our 51% support signalling a big drop from here.
NZDUSD hovering above major support, watch for a bearish break!
NZDUSD is hovering nicely above major support at 0.7276 (Fibonacci retracement, horizontal swing low support) and a break of this level could trigger a mega drop towards 0.7184 support (Fibonacci retracement, horizontal overlap support). It is important to wait for the candlestick to at least close below our 1st support level to potentially trigger the sell-off.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
NZDUSD testing major support, watch to sell on the breakSell below 07283. Stop loss at 0.7349. Take profit at 0.7188.
Reason for the trading strategy (technically):
Price is now testing major support at 0.7283 (Fibonacci retracement, horizontal swing low support) and only a break of this level would trigger a bearish move to 0.7188 support (Fibonacci retracement, horizontal pullback support).
It is worth noting that we can see price break out of our bearish channel triggering a bearish exit. Confirmation of the drop requires price to close below 0.7283.
RSI (34) sees a bearish exit of our long term ascending support-turned-resistance line and also a break below our 51% support signalling a big drop from here.
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.
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.
