Nzdusdforecast
NZDUSD Monthly Harmonic BAT Analysis and StrategyThis pair is currently trading at a major support zone as seen on the monthly chart (yellow zone) and is forming a Harmonic Bat Pattern. This is a long term pattern but we are predicting the Harmonic Bat Pattern will be completed and we are looking for price action to move towards the upside from this point. FX:NZDUSD
Possible Short for NZDUSD Possible long for NZDUSD. Price has remained beneath both the 200 EMA and the 50 EMA indicating a strong short bias. Price has also been following a parallel trend for the past couple of weeks and has recently hit the trend line channel resistance, also indicating a short bias. Price has also been recently rejected by a local resistance line. FX:NZDUSD
New Zealand Dollar / U.S. Dollar NZDUSD to BUYTwo weeks ago, I stated market is getting ready for a buy as it entered oversold region of RSI.
This is an update for entry area to buy up, RSI bottomed at 27 reading and market hit a good support area as depicted in it's history.
Market has now retracing down to possibly form a double bottom as it often does, then a good uptrend likely to follow.
Will try a harmonic pattern for market to highlight possible take profit and retracement areas.
Warning; trading comes with risks, trade safely and within reason. All charts to be used for guideline purposes.
Original chart from two weeks ago attached.
#NZDUSD Will continue the trend?We are trading with the trend and currently, we are on a downward trend, a few more reasons to sell signal:
1. The nzdusd price is below the 200 moving average.
2. The indicator Ichimoku indicates continued declines.
Entry price:0.6657
Take profit: 0.6480
Stop loss:0.6730
Possible Long Position for NZDUSDPossible long position available for NZDUSD. I have been away for. a while but as soon as I jumped on a couple of days ago, I had already predicted and drawn that parallel channel before the last 3 daily candles came out. We can see a strong push to a strong support zone which could indicate that a reversal will be occurring. I have set a tiny stop loss of 17 pips for this one with a take profit of 92 pips which makes for a good risk to reward ratio. Keep an eye out for updates. FX:NZDUSD