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Nzdusddaily

NZDUSD remain bullish above major supportBuy below 0.7202. Stop loss at 0.7153. Take profit at 0.7331. Reason for the trading strategy (technically): We remain bullish looking to buy above major support at 0.7202 (Fibonacci extension, horizontal swing low support) for a further push up to at least 0.7331 resistance (Fibonacci retracement, horizontal swing high resistance). Stochastic (55,5,3) is seeing major support above 3.3% where we’re seeing a corresponding bounce from along with good upside potential.
Long
by MEX_Exchange
NZDUSD bouncing up nicely as expected, prepare to sellSell below 0.7202. Stop loss at 0.7153. Take profit at 0.7331. Reason for the trading strategy (technically): Price has bounced up nicely as expected from our buying area. We remain bullish looking to buy above major support at 0.7202 (Fibonacci extension, horizontal swing low support) for a further push up to at least 0.7331 resistance (Fibonacci retracement, horizontal swing high resistance). Stochastic (34,5,3) is seeing major support above 3.3% where we’re seeing a corresponding bounce from along with good upside potential.
Long
by MEX_Exchange
NZDUSD : CLEAR HEAD & SHOULDERS PATTERN FORMING?Hi traders! As I looked through my charts this morning, NZDUSD spoke to me. I'm seeing a head and shoulder pattern forming on the daily time frame! I'm torn though because I don't see the USD getting stronger but the NZD can make a case for itself to be a weak currency at the moment too. MACD is almost crossing and RSI bounced off the 50 line. The RR is pretty awesome if this trade fall through, as the initial TP would be hit and I could let the price go down some more and just trail it. NZDUSD SHORT : ENTRY : 0.73199 SL : 0.73921 TP : 0.71117 For me, the 70 pips risk looks like it's worth it. It's a risky-er trade than the one I usually post but the analysis is on point. Trade safe guys!
Short
by ScottMescudiForex
5
NZDUSD right on major support, remain bullish for a bounceBuy above 0.7202. Stop loss at 0.7153. Take profit at 0.7331. Reason for the trading strategy (technically): Price is now testing our major support buying area. We remain bullish looking to buy above major support at 0.7202 (Fibonacci extension, horizontal swing low support) for a bounce up to at least 0.7331 resistance (Fibonacci retracement, horizontal swing high resistance). Stochastic (34,5,3) is seeing major support above 3.3% where we expect a further bounce from.
Long
by MEX_Exchange
NZDUSD profit target reached perfectly, prepare to buy Buy above 0.7202. Stop loss at 0.7153. Take profit at 0.7331. Reason for the trading strategy (technically): Price has dropped absolutely perfectly and has reached our profit target. We prepare to buy above major support at 0.7202 (Fibonacci extension, horizontal swing low support) for a bounce up to at least 0.7331 resistance (Fibonacci retracement, horizontal swing high resistance). Stochastic (34,5,3) is seeing major support above 3.3% where we expect a further bounce from.
Long
by MEX_Exchange
NZDUSD dropping towards our profit target, remain bearishSell below 0.7304. Stop loss at 0.7340. Take profit at 0.7223. Reason for the trading strategy (technically): Price has dropped absolutely perfectly from our selling area and is fast approaching our profit target. We remain bearish below 0.7304 resistance (Fibonacci retracement, horizontal overlap resistance) for a further drop towards 0.7223 support (Fibonacci extension, horizontal swing low support). We also shift our stop loss to 0.7340 to protect our profits. RSI (34) sees a bearish change in momentum giving further conviction that we’ll be seeing a much bigger drop in price
Short
by MEX_Exchange
NZDUSD testing major resistance, remain bearishSell below 0.7337. Stop loss at 0.7373. Take profit at 0.7223. Reason for the trading strategy (technically): Price is now testing major resistance at 0.7337 (Fibonacci retracement, horizontal swing high resistance, bearish divergence) and we expect a drop from this level to at least 0.7223 support (Fibonacci extension, horizontal swing low support). Stochastic (34,5,3) is reversing nicely below our 96% resistance and we also see bearish divergence vs price signalling that a reversal is impending.
Short
by MEX_Exchange
NZDUSD testing major resistance, remain bearishSell below 0.7337. Stop loss at 0.7373. Take profit at 0.7223. Reason for the trading strategy (technically): Price is now testing major resistance at 0.7337 (Fibonacci retracement, horizontal swing high resistance, bearish divergence) and we expect a drop from this level to at least 0.7223 support (Fibonacci extension, horizontal swing low support). Stochastic (34,5,3) is reversing nicely below our 96% resistance and we also see bearish divergence vs price signalling that a reversal is impending.
Short
by MEX_Exchange
NZDUSD dropping nicely towards profit target, remain bearishSell below 0.7290. Stop loss at 0.7335. Take profit at 0.7223. Reason for the trading strategy (technically): Price has reversed perfectly from our selling area and is approaching our profit target. We remain bearish below 0.7290 resistance (Fibonacci retracement, horizontal pullback resistance) for a further push down to at least 0.7223 support (Fibonacci extension, horizontal swing low support). We shift our stop loss to 0.7335 resistance to protect our profits. Stochastic (34,5,3) has reversed nicely and has good downside potential to play our drop.
Short
by MEX_Exchange
NZDUSD testing major resistance, prepare to sellSell below 0.7322. Stop loss at 0.7372. Take profit at 0.7223. Reason for the trading strategy (technically): Price is now testing major resistance at 0.7322 (Fibonacci retracement, horizontal overlap resistance) and we expect to see a reaction from this level for a push down to at least 0.7223 support (Fibonacci extension, horizontal swing low support). Stochastic (34,5,3) is seeing major resistance below 96% level and we expect to see a corresponding drop in price from.
Short
by MEX_Exchange
NZDUSD has broken major support, prepare to sellSell below 0.7258. Stop loss at 0.7286. Take profit at 0.7196. Reason for the trading strategy (technically): Price has broken our major support-turned-resistance level at 0.7258 and we prepare to sell below this resistance level (Fibonacci retracement, horizontal pullback resistance) for a further push down following our bearish channel momentum to at least 0.7196 (Fibonacci extension, horizontal swing low support). RSI (21) sees resistance at 63% and also a recent bearish exit signalling that we’re expecting more bearish momentum.
Short
by MEX_Exchange
NZD/USD reaches 0.7292Daily outlook - NZD/USD reaches 0.7292 As it was expected, beginning of the new week the NZD/USD pair spent in a relatively horizontal and steady movement. Namely, the currency rate managed to climb to the 0.7330 level and then made a rebound a started to gradually slide back to the bottom. The first target, namely, the monthly S1 at 0.7294 it has already reached. As a multiple technical indicators send a strong sell signal, the pair is expected to continue the fall. The next likely goal could be the 0.7258 level and, eventually, the 0.7248 level, as the space between them represents not only an accumulation of take profit and limit orders, but also of the loss trades. Market sentiment support this scenario as well, as 67% of traders are bearish on this currency pair. Finally, 65% of pending orders in the 100-pip range are also set to sell.
by UnknownUnicorn890690
NZDUSD dropping perfectly towards profit target, prepare to buy Buy above 0.7256. Stop loss at 0.72299. Take profit at 0.7326. Reason for the trading strategy (technically): Price has dropped perfectly from our selling area yesterday and is fast approaching our profit target. We prepare to buy above major support at 0.7256 (Fibonacci extension, horizontal swing low support) for a push up to at least 0.7326 resistance (Fibonacci retracement, horizontal swing high resistance). However, we have to be cautious about the descending channel resistance too. Stochastic (34,5,3) is seeing support above 4.9% where we expect to see a corresponding bounce off. Correlation analysis: We’re seeing commodity strength vs USD today with bounces expected on AUDUSD and NZDUSD.
Long
by MEX_Exchange
NZDUSD profit target reached perfectly, prepare to sellSell below 0.7329. Stop loss at 0.7371. Take profit at 0.7263. Reason for the trading strategy (technically): Price has bounced up perfectly from our buying area and has reached our profit target. We prepare to sell on major resistance at 0.7329 (Fibonacci retracement, horizontal resistance, channel resistance) for a push down to at least 0.7263 support (Fibonacci extension, horizontal swing low support). Stochastic (34,5,3) is seeing major resistance below 94% where we expect a corresponding drop from.
Short
by MEX_Exchange
NZDUSD testing major support, remain bullish for a bounceBuy above 0.7258. Stop loss 0.7236. Take profit at 0.7337. Reason for the trading strategy (technically): Price is testing major support at 0.7258 (Fibonacci extension, horizontal swing low support, channel support, bullish divergence) and we expect to see a nice bounce above this level for a rise to at least 0.7337 resistance (Fibonacci retracement, horizontal pullback resistance, potential channel resistance). Stochastic (34,5,3) is bouncing nicely off our 8% support and also displays bullish divergence vs price signalling that a bounce is impending.
Long
by MEX_Exchange
2
NZD/USD slips to 0.7310Daily outlook - NZD/USD slips to 0.7310 An early hours of Wednesday’s trading session confirmed that the Kiwi was rapidly depreciating against the buck in a flag pattern. For this reason, the currency rate has expectedly bounced off from the weekly S2 at 0.7310. Most probably, the surge would continue at least until the 0.7348 mark. A number of major technical indicators support this assumption, pointing out that the pair is oversold. However, then the rate will have to encounter the 55-hour SMA, which might force it to step down. If this scenario materializes, this might be a sign of formation of a falling wedge. In contrast, if the pair succeeds to pass through it, that will confirm the relevance of the current descending channel. But, generally, the pair is expected to continue to slip to the bottom, as 71% of traders hold short positions.
by UnknownUnicorn890690
NZDUSD bouncing up nicely, remain bullish for a further riseBuy above 0.7336. Stop loss at 0.7305. Take profit at 0.7389. Reason for the trading strategy (technically): Price had bounced off our support level perfectly from yesterday. We remain bullish looking to buy on dips above 0.7336 (Fibonacci retracement, horizontal pullback support) for a further push up to at least 0.7389 resistance (Fibonacci retracement, horizontal pullback resistance). Stochastic (34,5,3) is bouncing nicely off our 8% support and has good upside potential.
Long
by MEX_Exchange
NZDUSD right on major support, remain bullishBuy above 0.7325. Stop loss at 0.7305. Take profit at 0.7389. Reason for the trading strategy (technically): Price is right on major support at 0.7325 (multiple Fibonacci extensions, horizontal swing low support, channel support) and we expect to see a bounce above this level for a push up to at least 0.7389 resistance (Fibonacci retracement, horizontal pullback resistance). Stochastic is seeing major support at 8% signalling that a short term correction is fast approaching.
Long
by MEX_Exchange
NZDUSD profit target reached, prepare to buyBuy above 0.7333. Stop loss at 0.7305. Take profit at 0.7389. Reason for the trading strategy (technically): Price has dropped perfectly from our selling area and is fast approaching our profit target. We prepare to buy above major support at 0.7333 (Fibonacci retracement, horizontal swing low support, Fibonacci extension) for a push up to at least 0.7389 resistance (Fibonacci retracement, horizontal pullback resistance). RSI (34) sees intermediate resistance at 49% which continues to hold it down, as long as RSI remains below this level, our long term view on NZDUSD would be bearish. Stochastic is seeing major support at 8% signalling that a short term correction is fast approaching.
Long
by MEX_Exchange
NZDUSD testing major resistance, remain bearish for a further drSell below 0.7459. Stop loss at 0.7500. Take profit at 0.7333. Reason for the trading strategy (technically): Price continues to test our major resistance level. We remain bearish looking to sell below 0.7459 resistance (Fibonacci retracement, horizontal overlap resistance) for a further push down to at least 0.7333 support (Fibonacci extension, horizontal swing low support). RSI (34) sees intermediate resistance at 49% which continues to hold it down. Correlation analysis: We are expecting commodities weakness with AUDUSD and NZDUSD both expecting drops.
Short
by MEX_Exchange
NZDUSD testing major resistance, remain bearish Sell below 0.7459. Stop loss at 0.7500. Take profit at 0.7333. Reason for the trading strategy (technically): Price has risen and is approaching our major resistance level. We remain bearish looking to sell below 0.7459 resistance (Fibonacci retracement, horizontal overlap resistance) for a further push down to at least 0.7333 support (Fibonacci extension, horizontal swing low support). RSI (34) sees a lot of resistance pushing it down really well. Correlation analysis: We are expecting commodities weakness with AUDUSD and NZDUSD both expecting drops.
Short
by MEX_Exchange
NZDUSD profit target reached perfectly, remain bearish Sell below 0.7459. Stop loss at 0.7500. Take profit at 0.7333. Reason for the trading strategy (technically): Price has dropped perfectly and reached our profit target. We prepare to sell below 0.7459 resistance (Fibonacci retracement, horizontal overlap resistance) for a further push down to at least 0.7333 support (Fibonacci extension, horizontal swing low support). RSI (34) sees a lot of resistance pushing it down really well. Correlation analysis: We are expecting commodities weakness with AUDUSD and NZDUSD both expecting drops.
Short
by MEX_Exchange