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Nzdusddaily

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
NZDUSD prepare to sell with break of major supportSell below 0.7491. Stop loss at 0.7531. Take profit at 0.7405. Reason for the trading strategy (technically): Price has broken a major ascending support-turned-resistance line and we expect a strong drop from here. We prepare to sell below strong resistance at 0.7491 (Fibonacci retracement, horizontal overlap resistance, pullback resistance) for a push down all the way to 0.7405 support (Fibonacci retracement, Fibonacci extension, horizontal swing low support). RSI (34) is starting to see our support-turned-resistance line broken which would trigger a corresponding drop in price. Correlation analysis: We are expecting commodities weakness with AUDUSD and NZDUSD both expecting drops.
Short
by MEX_Exchange
NZDUSD : Clear path for the BULLSNothing is standing in the way of the bulls now. Resistance has been met and price doesn't fall down. DXY still making new low everyday. NZD and AUD didn't quite catch that upside that other pairs got last friday. I'm expecting a push up yet again! We have to wicks that retraced back into our zone as it tried to break down but was unsuccessful. NZDUSD LONG ENTRY : 0.74911 SL : 0.7452 TP : 0.76175 RSI & MACD can stay this high longer than you can hold a short position! Long it is! Trade safe!
Long
by ScottMescudiForex
NZDUSD remain bullish for a further riseBuy above 0.7484. Stop loss at 0.7457. Take profit at 0.7549. Reason for the trading strategy (technically): Price has made a bullish exit from a short term triangle formation. We remain bullish looking to buy on dips above 0.7484 support (Fibonacci retracement, horizontal overlap support) for a further push up towards 0.7549 resistance (Fibonacci extension, horizontal swing high resistance). We move our stop loss to 0.7457 to protect our profits. RSI (34) sees good support above 45% and also a bullish exit of a recent descending resistance-turned-support line signalling that a rise is impending. Correlation analysis: We are expecting commodities strength with AUDUSD and NZDUSD both seeing bounces.
Long
by MEX_Exchange
NZDUSD approaching profit target, remain bullish Buy above 0.7484. Stop loss at 0.7457. Take profit at 0.7549. Reason for the trading strategy (technically): Price touched our buy entry and shot up perfectly towards our profit target. We remain bullish looking to buy on dips above 0.7484 support (Fibonacci retracement, horizontal overlap support) for a further push up towards 0.7549 resistance (Fibonacci extension, horizontal swing high resistance). We move our stop loss to 0.7457 to protect our profits. Stochastic (34,5,3) is bouncing up nicely from our support previously and still has some good upside potential that corresponds to the rise we’re expecting on price.
Long
by MEX_Exchange
NZDUSD prepare to buy on major support Buy above 0.7461. Stop loss at 0.7401. Take profit at 0.7549. Reason for the trading strategy (technically): Price is approaching major support at 0.7461 (Fibonacci retracement, horizontal pullback support, Fibonacci extension) and we expect to see a nice bounce above this level for price to reach at least 0.7549 resistance (Fibonacci extension, horizontal swing high resistance). Stochastic (21,5,3) is seeing major support above 5.6% where we expect a bounce from.
Long
by MEX_Exchange
NZDUSD right on resistance, sell for a corrective dropSell below 0.7528. Stop loss at 0.7560. Take profit at 0.7461. Reason for the trading strategy (technically): Price has continued to rise and is now seeing strong resistance at 0.7528 (Multiple Fibonacci extensions) and we expect to see a corrective drop from this level to at least 0.7461 support (Fibonacci retracement, horizontal pullback support). Stochastic (55,5,3) is seeing major resistance below 94% where we expect a reaction from soon.
Short
by MEX_Exchange
NZDUSD major support broken, time to start sellingSell below 0.7423. Stop loss at 0.7461. Take profit at 0.7332. Reason for the trading strategy (technically): Price has finally properly broken our key support level at 0.7423 (Fibonacci retracement, horizontal overlap support) and we plan to sell below this level for a push down to at least 0.7332 support (Fibonacci retracement, horizontal swing low support). Stochastic (55,5,3) has broken our ascending support-turned-resistance line signalling that a drop is expected. Correlation analysis: AUDUSD and NZDUSD are both positively correlated. So it is good to see a drop on NZDUSD and AUDUSD as that increases our conviction on this trade.
Short
by MEX_Exchange
NZDUSD prepare to sell on break of major supportSell below 0.7423. Stop loss at 0.7461. Take profit at 0.7332. Reason for the trading strategy (technically): Price is hovering above key support level at 0.7423 (Fibonacci retracement, horizontal overlap support) and we plan to sell on the break of such a key support for a push down to at least 0.7332 support (Fibonacci retracement, horizontal swing low support). Stochastic (55,5,3) is seeing major resistance below 94% where we expect a further drop from soon. Confirmation of the break of our key support on price is needed to confirm our move down.
Short
by MEX_Exchange
NZDUSD approaching major resistance, prepare to sell Sell below 0.7480. Stop loss at 0.7510. Take profit at 0.7394. Reason for the trading strategy (technically): Price is fast approaching major resistance at 0.7480 (highest point for past 2 years) and we expect to see a drop from that level to at least 0.7394 support (Fibonacci retracement, horizontal overlap support). Stochastic (34,5,3) is seeing nice resistance below 94% and we expect to see a corresponding drop from this level.
Short
by MEX_Exchange
NZDUSD profit target reached, prepare to sellSell below 0.7367. Stop loss at 0.7391. Take profit at 0.7300. Reason for the trading strategy (technically): Price has bounced up and reached our profit target perfectly. We prepare to sell below major resistance at 0.7367 (Fibonacci extension, horizontal swing high resistance, Elliott wave theory) for a drop from this level towards at least 0.7300 support (Fibonacci retracement, horizontal overlap support). Stochastic (21,5,3) is dropping nicely from our 90% resistance and we expect a further drop from here.
Short
by MEX_Exchange
NZDUSD expecting one last push upBuy above 0.7326. Stop loss at 0.7296. Take profit at 0.7398. Reason for the trading strategy (technically): Price has formed a new Elliott structure leading us to believe that we should be seeing one last push up before a drop. The goal is to buy above 0.7326 support (Fibonacci retracement, horizontal overlap support) for a push up to at least 0.7398 resistance (Fibonacci extension, Elliott wave theory). RSI (55) is seeing support above 50% where we expect it to hold price up as long as it remains above this level.
Long
by MEX_Exchange
NZDUSD profit target reached, prepare to sellSell below 0.7345. Stop loss at 0.7372. Take profit at 0.7289. Reason for the trading strategy (technically): Price has risen and reached our profit target perfectly from yesterday. We prepare to sell below major resistance at 0.7345 (Fibonacci extension, bearish price action, horizontal swing high resistance) for a drop to at least 0.7289 support (Fibonacci retracement, horizontal pullback support). Stochastic (34,5,3) is seeing major resistance below 95% where we expect a corresponding drop from along with price.
Short
by MEX_Exchange
NZDUSD: Sells Off, Resumes Downside PressureNZDUSD: The pair continues to face downside pressure selling on Tuesday and leaving risk lower in the days ahead. Support lies at the 0.7200 level. Further down, the 0.7150 level comes in as the next downside target. Its daily RSI is bearish and pointing lower suggesting more weakness. Conversely, resistance resides at the 0.7250 level where a break will aim at the 0.7300 level. A break of here will have to occur to create scope for a run at the 0.7350 level. Further out, resistance stands at the 0.7400 level. All in all, NZDUSD faces further downside pressure.
Short
by FXTechstrategy