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Nzdusdsell

NZD/USD - re-test of weekly resistance and daily resistance zoneAfter a bearish start to NZD/USD price action this week, price found support at 0.6525 and has been pushing higher ever since. The bullish momentum over the past two days has seen price move back above the psychological level of 0.6600. At this current time, due to the break below the main daily ascending trend zone at the start of August, we are still favouring short opportunities on this currency pair and see this latest bullish push as a potential to enter short. That being said, we are hanging back from USD pairs today as a result of the Fed's speech and Initial Jobless figures later today - we recommend doing the same. Back to price on the NZD/USD - price is now running into a daily resistance zone between 0.6660 and 0.6690, along with the weekly resistance zone. This confluence means, once news has passed today, we will be looking for short opportunities. If price closes above 0.6690 this analysis will be invalid.
Short
by TheForexFellows
1
NZD/USD - continued bearish momentum after peak above 0.6600During our last post on NZD/USD we were looking at price action on the weekly time frame and had estimated a continued bearish movement as price rejected from the upper boundary of the descending weekly trend channel. Price is currently posting another bearish candle on the weekly time frame if bearish momentum continues into Friday. This may change after the last candle of the week. A weakening dollar did push price back up above 0.6600, but the level was strongly rejected with price falling quickly back to the support at 0.6572. Price has now broken through this level of strong support, with price currently hovering around 0.6500. We are expecting a push back up to 0.6572 to retest the level, before price then continues further down. We will be looking at the level of 0.6572 to enter a short position with a take profit target of 0.6500 and a second take profit target at the support of 0.6385. If price breaks and holds above 0.6572 on the daily, we will rethink our analysis.
Short
by TheForexFellows
NZD/USD pair is trading above the strong support level of 0.6520The pair is buying and selling above the robust assist stage of 0.6520. The pair is negatively affected by the US-China stress, in addition to the expectation of the publication of the minutes of the final assembly of the Reserve Financial institution of New Zealand on Tuesday. Technical aspect: The value is beneath the center Bollinger band, beneath SMA 5 and SMA 14. RSI is above the oversold zone and strikes horizontally. Stoch are declining. Buying and selling suggestions: If the pair falls beneath the 0.6520, it could go additional all the way down to 0.6450.
by forexinworld
NZDUSD - SWING - 30. JULY. 2020Welcome to our weekly trade setup ( NZDUSD )! - 1 HOUR Bearish price action after forming new highs 4 HOUR Break and closure below main sr level. DAILY Expecting more bearish pressure. - FOREX SWING SELL NZDUSD ENTRY LEVEL @ 0.66280 SL @ 0.66820 TP @ 0.65560 Max Risk. 0.5% - 1%! (Remember to add a few pips to all levels - different Brokers!) Leave us a comment or like to keep our content for free and alive. Have a great week everyone! ALAN
Short
by DACapitalTrading
28