NZDUSD D TECHNICAL ANALYSISWe take SHORT position from the current level and book profit @ 200 PIPS
Let's Watch !!
Nzdusddaily
NZDUSD dropped perfectly, remain bearish for a further push downSell below 0.7145. Stop loss at 0.7175. Take profit at 0.7087.
Reason for the trading strategy (technically):
Price has dropped absolutely perfectly as expected. We remain bearish looking to sell on strength below 0.7145 resistance (Fibonacci retracement, horizontal pullback resistance, descending resistance) for a further push down to at least 0.7087 support (Fibonacci extension, Elliott wave structure).
RSI (34) sees a bearish exit of our triangle formation signalling that further bearish momentum is expected.
NZDUSD : THE FORGOTTEN ONE?Hi traders,
Our dear friend NZDUSD is now in our sight. This pair was in an uptrend for some time before breaking it to the downside. As you can clearly see the price went back to touch the bottom of the previous trend line before falling down yet again. The price is now battling in that order block. Since the bias is bearish at the moment, we waited for a retracement to previous FIB extension and the top of the order block to go SHORT on this pair.
All other details are in the chart, go take a look!
Here's my view :
NZDUSD SHORT:
ENTRY : 0.72124
SL : 0.72657
TP 1 : 0.70643
Trade safe!
Disclaimer: This is my trading analysis, it is not an invite or recommendation to trade.
NZDUSD under major resistance, time to start sellingSell below 0.7174. Stop loss at 0.7210. Take profit at 0.7087.
Reason for the trading strategy (technically):
Price is experiencing major resistance and we take this opportunity to start selling. We look to sell below 0.7174 resistance (Fibonacci retracement, descending resistance, horizontal overlap resistance) for a push down to at least 0.7087 support (Fibonacci extension, Elliott wave theory).
RSI (55) is seeing descending resistance similar to price holding it down.
NZDUSD approaching major support, prepare to buyBuy above 0.7128. Stop loss at 0.7091. Take profit at 0.7174.
Reason for the trading strategy (technically):
Price is approaching major support at 0.7128 (Fibonacci extension, horizontal swing low support) and we expect a bounce above this level for an intermediate correction to 0.7174 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,3,1) is seeing strong support above 2.4% where we expect a bounce from.
NZDUSD profit target reached perfectly, prepare to buy Buy above 0.7174. Stop loss at 0.7150. Take profit at 0.7224.
Reason for the trading strategy (technically):
Price has dropped and reached our profit target perfectly. We prepare to buy above major support at 0.7174 (Fibonacci extension, horizontal swing low support) for a push up to at least 0.7244 resistance (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension).
Stochastic (34,3,1) is seeing major support above 0.8% where we expect further bullish price action on.
NZDUSD dropping nicely, remain bearishSell below 0.7244. Stop loss at 0.7300. Take profit at 0.7178.
Reason for the trading strategy (technically):
Price touched our selling area before reversing strongly. We remain bearish looking to sell below major resistance at 0.7244 (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension) for a push down to at least 0.7178 support (Fibonacci extension, horizontal swing low support) once again.
Stochastic (21,3,1) is seeing strong resistance at 95% and still has good downside potential to ride the drop down.
NZDUSD approaching selling area, remain bearish
Sell below 0.7244. Stop loss at 0.7300. Take profit at 0.7178.
Reason for the trading strategy (technically):
Price is once again rising and reaching our selling area. We prepare to sell below major resistance at 0.7244 (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension) for a push down to at least 0.7178 support (Fibonacci extension, horizontal swing low support) once again.
Stochastic (21,3,1) is seeing strong resistance at 95% where we expect a drop from.
NZDUSD profit target reached perfectly, prepare to buy Buy above 0.7180. Stop loss at 0.7140. Take profit at 0.7247.
Reason for the trading strategy (technically):
Price has continued to drop further and we’re starting to see price test major support. We prepare to buy above major support at 0.7180 (Fibonacci extension, horizontal swing low support) for a bounce to at least 0.7247 resistance (Fibonacci retracement, horizontal pullback resistance).
Stochastic (34,3,1) is bouncing up nicely from our 1.8% support and has good upside potential.
FX-Spot NZD/USDThis was the trade we took last week making us around 86 pips in a single day, current idea is to short around 0.7238-74 for an extended target of 0.7096, stop above 0.7299
NZDUSD profit target reached perfectly, prepare to buy Buy above 0.7247. Stop loss at 0.7178. Take profit at 0.7341.
Reason for the trading strategy (technically):
Price has dropped perfectly to our profit target. We prepare to buy above major support at 0.7247 (Fibonacci extension, Fibonacci retracement, horizontal swing low support) for a bounce up to at least 0.7341 resistance (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance).
Stochastic (34,3,1) is seeing strong support above 1.8% where we expect a bounce from.
NZDUSD starting to face resistance, prepare to sellSell below 0.7343. Stop loss at 0.7390. Take profit at 0.7279.
Reason for the trading strategy (technically):
Price has bounced up perfectly from our buying area last week. Now we’re seeing price test strong resistance at 0.7343 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) and we expect to see a strong reaction from here to push price down to at least 0.7279 support (Fibonacci extension, horizontal swing low support, Fibonacci retracement) once again.
Stochastic (34,5,3) is seeing major resistance at 95% and we expect to see a strong reaction off this level too.
NZDUSD right on our buying area, remain bullish for a bounceBuy above 0.7303. Stop loss at 0.7243. Take profit at 0.7409.
Reason for the trading strategy (technically):
Price has dropped as expected to our buying area. We look to buy above strong support at 0.7303 (Fibonacci retracement, swing low support, bullish price action) and we expect a bounce above this level to push price up to at least 0.7409 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (21,5,3) is seeing strong support above 3.9% where we expect a bounce from.
NZDUSD look to buy on dips for a further push upBuy above 0.7303. Stop loss at 0.7243. Take profit at 0.7409.
Reason for the trading strategy (technically):
Price is approaching strong support at 0.7303 (Fibonacci retracement, swing low support, bullish price action) and we expect a bounce above this level to push price up to at least 0.7409 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (21,5,3) is seeing strong support above 3.9% where we expect a bounce from.
Short NZDUSD Longterm Based on H&S Pattern - 340PipsWe've got a completed H&S pattern on the daily timeframe, perfectly in line with a major resistance at 0.73370 - we short for a potential 340 pips profit.
This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits.
Please comment below and Like if you agree with my analysis.
Credits for the H&S pattern find in this idea go to Dan Benzo :)
NZDUSD profit target reached perfectly, prepare to sellSell below 0.7342. Stop loss at 0.7376. Take profit at 0.7251.
Reason for the trading strategy (technically):
Price has bounced up from our buying area and reached our profit target perfectly. We prepare to sell below major resistance at 0.7342 (Fibonacci extension, horizontal swing high resistance) for a push down to at least 0.7251 support (Fibonacci retracement, horizontal swing low support).
Stochastic (34,5,3) is seeing major resistance below 95% where we expect a reaction from to push price down.
NZDUSD testing major support, prepare for a bounceBuy above 0.7258. Stop loss at 0.7237. Take profit at 0.7311.
Reason for the trading strategy (technically):
Price is now testing major support at 0.7258 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) and we expect to see a strong bounce above this level to push price up to 0.7311 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,5,3) is seeing major support above 13% where we expect a bounce from that corresponds to the one we’re expecting on NZDUSD.
NZDUSD profit target reached perfectly, prepare to sellSell below 0.7319. Stop loss at 0.7344. Take profit at 0.7224.
Reason for the trading strategy (technically):
Price touched our entry level and shot up absolutely perfectly to our profit target. We prepare to sell below major resistance at 0.7319 (Fibonacci retracement, horizontal resistance, Fibonacci extension) for a push down to 0.7224 support (Fibonacci extension, fibonacci retracement, horizontal swing low support) once again.
Stochastic (34,3,1) is seeing major resistance below 91% where we expect a reaction from.
NZDUSD bouncing up nicely, remain bullish for a further push upBuy above 0.7335. Stop loss at 0.7201. Take profit at 0.7291.
Reason for the trading strategy (technically):
Price has bounced up perfectly from our buying area and has started to retrace. We prepare to buy once again on major support at 0.7225 (Fibonacci retracement, Fibonacci extension, horizontal swing low support) for a bounce up once again to 0.7291 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,3,1) is seeing strong support above 2% where we expect a similar bounce from.
NZDUSD approaching major support, prepare to buyBuy above 0.7238. Stop loss at 0.7201. Take profit at 0.7335.
Reason for the trading strategy (technically):
Price is approaching major support at 0.7238 (multiple Fibonacci retracement, horizontal pullback support, Fibonacci extension) where we expect a strong bounce from to push price all the way up to 0.7335 resistance (Fibonacci extension, horizontal swing high resistance) once again.
Stochastic (34,3,1) is seeing strong support above 3.64% and we expect a bounce above that level once it reaches there.
NZDUSD prepare to sell on major resistanceSell below 0.7295. Stop loss at 0.7340. Take profit at 0.7203.
Reason for the trading strategy (technically):
We prepare to sell on major resistance at 0.7295 (Fibonacci extension, horizontal swing high resistance, Fibonacci retracement) for a strong push down from that level to at least 0.7203 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,3,1) is seeing strong resistance at 95% and we expect a reaction from that level to push price down similarly.
NZDUSD profit target reached absolutely perfectly, buySell below 0.7204. Stop loss at 0.7181. Take profit at 0.7264.
Reason for the trading strategy (technically):
Price dropped absolutely perfectly from our selling area and reached our profit target. We prepare to buy above major support at 0.7204 (Fibonacci retracement, horizontal overlap support) for a bounce up to at least 0.7264 resistance (Fibonacci extension, horizontal swing high resistance, Fibonacci retracement).
Stochastic (34,5,3) is seeing strong support above 2.6% where we expect a bounce from.
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.
