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Nzdusdsetup

NZDUSD - overdue a correction?Since 19th March 2020 when the price hit .5462 , the New Zealand Dollar has pushed impressively higher largely on the back of dollar weakness and currently stands at .6575. Price has even pushed through the strong historical resistance at .6581 but the move looks ever more unconvincing and having now reached the green upper flag which has held the price, the big question is could this be the start of a deeper correction? Resistance turned support at .6570 could offer the chance for the BULLS to gather and force prices higher and RSI reading are not overbought so we could easily see price head higher but a break of .6560 lower trend line could see a move back to solid support at .6382. On the H1 time frame the ADX is moving into BEARISH territory with D+ crossing over D- and the RSI has crossed down over the 50 day SMA. There remains general dollar weakness in the market so you'd expect this pair to push higher but as ever with FX , expect the unexpected. I'll be shorting this pair on a break of .6560.
by theforexportal
NZD/USD Technical Analysis.Currently, NZD/USD is trading at 0.6473. The pair is consolidating in the resistance and support wedges. Previously, the pair was trading in a down trend and after touching support level it started consolidating in the resistance and support levels. If the price breaks the resistance level at 0.6525, then it may start a new up trend and its target price will be at 0.6751. If the price breaks the support level at 0.6381, then it may start a new down trend and its target price will be at 0.6155. Follow a proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade. Do follow us for future Forex trend analysis and Ideas. Thank you, Rishikesh Lilawat
by rishililawat5
NZDUSD swingSo many confluences to make me go short on this, third tap on the inner structure trend line with the possibility for a retest on the outer trend line, trading at a key resistance area and at the .786 fib retracement. Will be shorting at a retest of the fib or the trend line. if it gets there corrective it will only add more confluence to go short. Will be targeting the low of the wick as wicks needs to be filled for a target of 1200 pips, then to either of the two fib extensions after that. This is a swing trade so going to be holding this trade for a while upon entry
Short
by TradingAfterCollege
1
Short $NZDUSD against .6500 for a test of .6200Hello Sophisticated Trader, The $NZDUSD has a similar setup with the $AUDUSD, coupled with the renewed dollar strength that could potentially make this pair an attractive sell for a test of .6200. Any retest of .6500 would support a short and only a break and close above recent high would negate the potential test. Remember to buy on support and sell on resistance. Minimize your risk and Maximize your profits. Like, Comment, and Follow. Let's Make Money Together! Happy Trading! Dr. Lydia Smith As a Sophisticated trader,  we teach you what you need to know about trading.
Short
by DrLydia
2
NZDUSD Sell SetupEnjoy a free signal before the week gets started Feedback, Likes, comments, and shares would be appreciated. We have reached a major daily s/r area where market historically has had steep reversals This would be a great opportunity to catch the trend reversal Also we have 2 major monthly downtrend and uptrend lines colliding Market has respected the monthly downtrend line, soon as it reached we saw a rejection twice then market fell below the monthly uptrend line, came back up to retest and saw a rejection We have broke and closed below the 12hr uptrend line I want to to market go up and test my major 3hr s/r area Currently we are just waiting for the best entry our chances look good. NZDUSD FX:NZDUSD Sell Limit: 0.6500 (Best entry takes the most patience) Stop loss: 0.6560 (60 pips risk) Take profit: 0.6275 (225 pips reward) Risk: 1% to 3% of account (recommended) Reward/Risk: 3.75 (225/60) Sell Stop: 0.6465 (Only when market goes above this price will you be able to execute this order or you can use a sell limit) Stop loss: 0.6560 (95 pips risk) Take profit: 0.6275 (190 pips reward) Risk: 1% to 3% of account (recommended) Reward/Risk: 2.00 (190/95)
Short
by maliekevans
NZD/USD Technical Analysis.Currently, NZD/USD is trading at 0.6456. The pair may start a new down trend if it breaks the support level at 0.6389. The pair is now consolidating in the resistance and support wedges. If the price breaks the support level then it may start a new down trend and its target price will be at 0.6265, the stop loss price will be at 0.6477. Follow a proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade. Do follow us for future Forex trend analysis and Ideas. Thank you, Rishikesh Lilawat
Short
by rishililawat5
NZDUSD SHORTThe US dollar has been making a slow recovery, especially if you look at the DXY. A lot of my USD pairs I'm in short this week. Anyways, This pair has impulsed down and making a flag formation, it could either go up or down. On the daily it looks like the formation of a morning star to the upside. If it does will be looking for a short at the triple top area on the horizontal ray. Will be taking that trade if it correctively gets there, if it impulses with high momentum, I will be sitting on my hands waiting for another set up. The more probable move is the continuous bear flag formation where ill be taking a trade at the top of the trend line either on the 2nd or 3rd tap, depending how it moves for the impulsive downside move.
Short
by TradingAfterCollege