Nzdusdidea
NZDUSD Top-Down AnalysisHello Traders,
Here is the Top-Down Analysis of NZDUSD (Monthly, Weekly, Daily for direction and 4H for entry) for
Week 41 - 06 Oct
M > Market is moving in a downward channel. Price broke out of channel last month to test monthly resistance level. This level previously pushed price to downside and we expect price to get pushed down again.
W > Price moved out of channel creating HH and HL, after rejection at resistance level price made an attempt to drop down but was unable to break support created by LH.
D > Price created double bottom at support created by demand zone. While dropping down price created an M formation and as expected price pull back to test the neck and complete formation. This will also bring liquidity to make an aggressive attempt to the downside. Price is now testing resistance level and we expect price to face rejection at this level and drop.
As per COT NZD saw addition of few Long and more Short reducing net positions, confirming weakness of NZD for the said week. ZXY improved its position last week.
4H > We can see loss of momentum as price is unable to create next HH. This setup will be invalid if price creates a HH on 4H timeframe.
Pair Correlation > Pair has a positive correlation with NZDJPY, AUDCHF and AUDUSD and negative correlation with EURAUD and EURNZD.
This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section you can share your view and ask questions.
Thank You
AP17FX
NzdUsd at confluence resistanceThe things are clear fo NzdUsd, after the double top at 0.68, the pair dropped to 0.65 support and now is in a small recovery...
The pair is facing strong confluence resistance now (neckline and trend support, now resistance) and I believe a new leg down is on cards for Kiwi for the next sessions.
The first target for sellers is 0.65 support but the pair can drop further to 0.64 important support
NzdUsd towards 0.67 again?Exactly like its currency sister Aud, Nzd has held support and now is reversing.
That being said I expect NzdUsd to continue its rise and a break of 0.66 interim resistance could lead to further gains towards 0.67.
As long as 0.6520 is intact buy dips is my preferred scenario
NZD/USD Is Going to Explode!At present, NZDUSD following a price channel pattern strategy. In the above chart, it has created three major parallel channels A , B , & C .
Pay attention to the parallel channel C. It is creating a new downtrend for a short period. Now, the New Zealand Dollar / U.S. Dollar can fall to the following levels:
Target Price 1: 0.67100
Target Price 2: 0.66936
Target Price 3: 0.66660
Short NZDUSDThere is the possibility that the first uptrend with the Ending Diagonal pattern ended in the range of 0.6797.By crossing the price range of 0.66011, the completion of the Ending Diagonal pattern is confirmed, we can hope the continuation of the downtrend extends up to the first target of 0.6380.
NZDUSD Long SetupGoing to look to go long on the retest if price shows it wants to go up again on the 1H and 15min time frame. Going to target the previous high on the 4H and then look for a potential sell opportunity back to the previous HL.
NZDUSD - sell biasedHI all traders.
Happy pips for next week and see this video analysis on NZDUSD.
Take note of all those areas i have warned you about and take some pips out of it.
Cheers everyone and thank you as always!
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NZDUSD is trading in a tight rangeNZDUSD
The swing momentum was slowed and downward trend was resumed after reaching the September high 0.67880 it felled towards 0.66000 level.
The key support price also broken at 0.67416 which is a clear sign of bearish trend and now this pair is trading in a range.
We can short this pair and the potential take profit would be 0.66000 which is a 61.8% Fibonacci and key psychological level. Stop lose may place above the 0.67400 level.
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Disclaimer
It’s not a financial advice. Do the analyze and take a decision.
NzdUsd outlookAs I've said in my previous analysis, the false break above 0.67 zone marks a top for NzdUsd.
The pair dropped to 0.66 after this false break and now is correcting this move.
My opinion is unchanged from bearish in the medium term and I will look for opportunities to sell this pair for 0.6650 target
NZDUSD - sell biasedHi all traders,
For NU, im actually looking for more downside for this pair.
Reason being.
This pair have reach an important level.
Any attempt to touch the trend line, we should be looking for sell opportunity for now.
However, if the trend line is broken strongly , we might see it test the top level again and if fail, we should continue sell again.
The reason for it being sell biased is also mainly due to usd strength.
Of course if, USD strength does not appear. We should be looking for continuation upwards. But for now, im still sell biased until i see the top level is broken.
Cheers and trade safe! =)
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NZDUSD-Wave 5 Wave B / 2 has ended in the range of 0.54691 which indicates we should wait for the uptrend. (If the initial 5 ascending waves forming)
We are currently in 5th wave of the first uptrend, which can be extended to the targets from 0.6830 to 0.6840. Then the downtrend resumption in direction of a corrective wave for this uptrend will begin.
NzdUsd- sell with a great risk: rewardNzdUsd found a clear top at 0.68 zone. Now the pair is consolidating above 0.67 zone and a small correction to 0.6725 is not out of the question.
A sell position in this zone with a target of 0.6650 would have a 1:3 risk: reward.
NZDUSD local signal (SHORT)Hello friends.
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Everything on the chart.
open pos: market
targets: 0.656 - 0.654 - 0.652
after first target reached move ur stop to breakeven
stop: 0.6635 (depending of ur risk). ALWAYS follow ur RM .
risk/reward almost 1 to 4
Good luck
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It's not financial advice.
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nzdusd - continue to buy upwardshi all traders,
NZDUSD have broken out of the consolidation phase and trading above 200 ma as such, we should look for more upside from then on.
NzdUsd outlookYesterday I've written that 0.65 is "the line in the sand" for NzdUsd and this support is becoming more and more strong with bears very reluctant around that area.
Now the pair is trading at 0.6555, very close of the recent range resistance and a break here would put bulls in advantage and would expose 0.6650 resistance.
NZDUSD*ENG*
- Price hitting our supportive zone, we are expecting a reversal from this area.
- If price breaks, look for the retest in order to enter short.
*PT*
- Preço a atingir a nossa zona de suporte, estamos a aguardar uma possível reversão neste nível.
- Se o preço quebrar, aguardar pelo retest em ordem a entrar short.
NZD/USD expect going to uptrendNZD/USD foreign money pair closed the buying and selling week close to 0.6600. The pair is traded above the higher boundary of the Ichimoku Kinko Hyo Cloud. It signifies that there's a bullish development for NZD/USD. This buying and selling week, the pair is predicted to develop and take a look at the higher sure of Ichimoku Kinko Hyo close to the extent of 0.6730. Merchants ought to count on the pair's try and rebound and additional development with a goal close to 0.6815.
NZDUSDGOOD LUCK
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Disclaimer: Forex trading and trading in other leveraged products involves a significant level of risk and is not suitable for all investors.
NZD/USD Technical Analysis
The counter has broken down two critical supports.
One- price action support level of 0.66128.
Two- Bullish Trendline.
It indicates the counter has changed its short-term to bearish and we advise traders to go short.
