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Nzdusdshort

NZDUSD bias remains negative.NZDUSD - 24h expiry - We look to Sell at 0.6200 (stop at 0.6240) Previous support located at 0.6150. Previous resistance located at 0.6200. There is no clear indication that the downward move is coming to an end. Risk/Reward would be poor to call a sell from current levels. A move through 0.6150 will confirm the bearish momentum. Our profit targets will be 0.6100 and 0.6080 Resistance: 0.6200 / 0.6225 / 0.6250 Support: 0.6150 / 0.6100 / 0.6050 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Short
by OANDA
1
NZD/USD: Double Top and Price Drop.NZD/USD falls to three-month lows, grinding near intraday lows. NZD/USD bears hold the reigns at the lowest levels since November 2022, down half a percent near 0.6130 early Monday, as negative New Zealand (NZ) drivers clash with US Dollar demand. However, NZ Retail Sales for the fourth quarter (Q4) fell -0.6% year on year, compared to 1.5% predicted and 0.4% previously. According to Reserve Bank of New Zealand (RBNZ) Chief Economist Paul Conway, "when interest rates rise, I expect consumption to slow." Meanwhile, solid US inflation-linked data combined with Fed policymakers' support for higher rates to boost Fed fund futures above 5.30%, versus 5.10% forecast by the US central bank in December. The recent round of sanctions imposed by the West on Russia has heightened market fears of increased geopolitical tension, which has boosted demand for the US Dollar as a safe haven.
Short
by FOREXN1
11
NZDUSD SHORTThus far we are witnessing a resurgent dollar against commodity dollars since the turn of the new year. There are signs the dollar is still bullish against major currencies. In the interim we are expecting a bearish correction for the dollar (bullish correction for other currencies). In the coming days we are watching to see if NZDUSD will retrace back to the fair gap region where we have placed our sell orders. On the 4HR we have a CHOCH and BOS. On the daily time frame we have a break of daily structure(awaiting confirmation on Monday +3:00 GMT). The break in daily is our confirmation for sell orders.
Short
by morrisgitau
1
NZD's double-bottom to foretell its next move?The Reserve Bank of New Zealand will deliver its second interest rate decision of 2023. The decision is release on Wednesday 2pm NZDT (Tuesday 8pm EST) What makes this interesting is that the country has just been hit by Cyclone Gabrielle which has reportedly caused more than NZ$12 billion worth of damage to infrastructure and private property. As such, some market watchers are predicting a pause in the RBNZ’s rate hikes (or a slowing), although the consensus is still for a 50-basis-points hike. With the uncertainty present in the market, the NZD/USD might look a little vulnerable ahead of this RBNZ decision. The NZD/USD is currently testing the support area created in January at 0.62249, which is crucial in predicting its next move. If the support area fails to hold, a short-term target includes 0.61648, and a long-term target includes 0.61000. NZD/USD is also below the 200-EMA, indicating a bearish trend. If the price manages to reject at the current support area, it may bounce to retest the 200-EMA period before continuing the downtrend. However, support holding up at 0.62249 would mean a double-bottom pattern formation, indicating, at least, a short-term bullish trend. For the reversal to have any momentum, the price needs to clear out the past consolidation area between 0.63523 and 0.63000, ultimately breaking the 0.63523 resistance area before continuing to the upside. Any upside to the NZD/USD might be capped by the strong economic data coming out of the US. Additionally, the US is closed for Presidents Day on Monday, perhaps causing some pent-up selling activity in the pair to eventuate on Wednesday NZDT/ Tuesday EST.
by BlackBull_Markets
NZDUSD fulfill my last idea.NXDUSD is exactly moving according my previous analysis and beautifully hitt our target 1 ( tagged ). Now market is rejecting from support and here we have two scenarios. I expect some retracment back before continuing downtrend so Now we have two areas for again enter in sell trades if market hold our 1st selling area then sell with small SL and TP is our main target 2. If market break and hold the 1st area as support then wait for 2nd selling area. Always trade safe and must use stop loss. If you like this idea kindly appreciate with like button.
Short
by pips-makers
AUDUSD GOING DOWN LONG TERM!!!HELLO TRADERS It seems like on a weekly timeframe this pair reached a resistance or supply zone(LOWER HIGH) and to back this up with top down analysis on a daily timeframe, the market formed a head and shoulders chart pattern which is a reversal chart pattern. Moving on to the 4 Hour timeframe the market broke the neckline, probably confirming the new direction of the market. Before any sell orders the market has to go through a correction phase to release buyers that are still in the market. On the 1 Hour timeframe, traders should be vigilant for reversal candlestick pattern, chart pattern or Fibonacci retracement for entries...... N.B THIS ANALYSIS CAN ALSO BE USED ON CORRELATING PAIRS: EURUSD GBPUSD NZDUSD USDCHF USDJPY
Short
by tadiwamarara10
1
SHORT ON NZDUSDBased on the current market conditions and news, I see a potential short trade opportunity on NZDUSD. With the Federal Reserve being hawkish and the likelihood of the DXY strengthening, there is a higher probability for the NZD to go down. Looking at the chart, NZDUSD has recently broken a trendline and is showing bearish pressure. There may be some support at a certain level, but it could continue to move down afterwards and form a clean range. It's important to use proper risk management when entering a trade. Today, there is high impact news on retail sales, so it's important to keep an eye on that as it could affect the trade. Overall, I'm looking to enter a short trade on NZDUSD based on these factors.
Short
by arpitjain11
1