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Nzdusdidea

NzdUsd- Will it break resistance?Since the beginning of December, NzdUsd is trading in a range between 0.6750 and 0.6850. Also, if we consider the spike down to 0.67 the head, we can argue an H&S pattern forming on our chart with the neckline at 0.6850 At this moment the pair is trading exactly in this resistance/neckline and, considering that the previous leg up from 0.6750 has impulse we can expect a break. That being said, my preferred strategy is to buy dips and the target for bulls can be 0.7 important figure. This scenario is negated by a dive under 0.6750
Long
by Mihai_Iacob
2
NZD/USD: Selling Pressure Remains the Story, Lows ChallengedThe NZD/USD fell to a low of nearly 0.67370 in early trading this morning, breaking through important support demonstrated the past few days of trading. This morning’s low also touched long-term values which had not been exhibited since October of 2020. After hitting today’s low, the NZD/USD was able to stage a reversal higher, but the pair remains below resistance levels which could prove to be a significant indicator if the current lower value range continues to be sustained. Since trading at a high of about 0.72180 on the 21st of October the NZD/USD has incrementally lowered. However, the real surge lower which appears to have signaled bearish momentum may take hold in a demonstrative fashion occurred on the 22nd of November, when the NZD/USD broke below the 0.70000 and was not only able to maintain values below this important psychological juncture, but seemingly exhibit price velocity which showed other support levels were vulnerable. On the 1st of December the NZD/USD was near the 0.68650 mark and the Forex pair still has not been able to prove it can sustain a bullish move higher that is durable. The USD has been strong against many major currencies recently as the U.S. Federal Reserve seems to have created the belief it will be more hawkish regarding its monetary policy moving forward. Intriguing technical charts certainly continue to show a lack of ability regarding the NZD/USD to create a reactionary bullish winning streak. Speculators who want to be contrarian and wager on upside momentum developing are certainly fighting the trend. Traders who want to be buyers with short-term positions should not be overly ambitious and perhaps target limited upside cyclical moves. Targeting the 0.67900 to 0.67950 marks may be justifiable, if the trader is using their risk management wisely. Speculators who want to continue to pursue downward trajectory cannot be faulted. While some traders may believe the NZD/USD has been oversold, long-term charts plainly show the pair has the capability to traverse lower values. If support near the 0.67450 to 0.67400 ratios begins to see a test and break below these marks, traders may begin to anticipate stronger moves lower which could ultimately test the 0.67000 juncture. NZD/USD Short-Term Outlook Current Resistance: 0.67970 Current Support: 0.67430 High Target: 0.68260 Low Target: 0.66950
Short
by SmoothJB
1
NZDUSDThe New Zealand dollar has been falling sharply, due to risk-off sentiment hitting hard as concerns rise about the economic impact of the new omicron coronavirus variant. The USD is relatively strong, so this pair is a major focus of the Forex market and has seen lots of action, although the Australian dollar has been falling harder and getting more attention than the New Zealand dollar, with which it is highly correlated. The price of this currency pair ended last week right near its low after falling by more than 0.98%, closing at a 1-year low price with strong bearish momentum. These are all bearish signs and there is a good chance that the price will see another strong fall next week, so there will probably be an opportunity for a short trade here, although AUD/USD may be a better bet so be sure to be diversified between the two antipodean currencies if trading the NZD.
Short
by SmoothJB
NZDUSD SHORTING OPPORTUNITY - ANALYSIS & TRADE IDEAHello everyone, if you like the idea, do not forget to support with a LIKE and FOLLOW for more creation of free analysis. \m/ On the Monthly, Weekly, and Daily is still bullish, though on the Daily EMA's just cut for short due to the retracement on Weekly, its forming an ICI to the downside. But overall we are still bullish on this pair. 4H is where we take our entry at the 0.50 of the fibonacci retracement that is also lining up with structure, take profit is at the impulse and stop loss is above the last high. Trade Signal SELL Entry: 0.70866 Take Profit: 0.69479 Stop Loss: 0.71286 Good luck! Trade wisely, please do proper money management. ~FX_SHIFTER
Short
by fx_shifter
NzdUsd- Correction is most likely overIn my previous NzdUsd analysis, I said that I'm bullish and I expect the price to rise to 0.73 resistance and at this moment my opinion is reinforced. After a short dip under support, the pair has reversed on Friday, and yesterday we have a strong bullish day that concludes a "Morning Star" candlesticks formation on out daily chart. NzdUsd looks prepared for more gains in the coming days and my target remains 0.73. Interim resistance is 0.7215 last high and only NzdUsd back under 0.71 would change this bullish perspective. Traders should look to buy dips on this pair
Long
by Mihai_Iacob
6