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Nzdusdshort

NZDUSD Weekly Analysis and OutlookNZDUSD Weekly Analysis and Outlook This week, the NZDUSD pair has shown a strong downward trajectory, closing in a bearish continuation phase. This downward momentum indicates a negative sentiment among traders, suggesting further potential for decline. Current Market Overview: The pair has been steadily moving downwards, supported by unfavorable market conditions and bearish sentiment. As it approaches a key minor resistance zone, traders should closely monitor the price action. A successful retest and rejection at this resistance would likely confirm the continuation of the bearish trend. Expectations and Potential Scenarios: Upon retesting and failing to break above the minor resistance zone, we anticipate that the NZDUSD will continue its downward momentum. This rejection could open the door to lower levels, offering traders potential opportunities to capitalize on the bearish trend. Primary Expectation: If the minor resistance holds and the price fails to break above, the price is likely to sustain its downward movement, potentially targeting lower support levels. This scenario would reinforce the bearish outlook, making it a favorable environment for short positions. Alternative Scenario: However, if the price manages to break above the minor resistance, a temporary upward correction could occur. Traders should be prepared for this scenario, as it might provide opportunities to reassess entry points at higher levels before resuming the downward trend. Conclusion: In summary, the NZDUSD pair is poised for further downward movement following its recent bearish phase. Traders should watch for a decisive rejection at the minor resistance zone, which could serve as a catalyst for continued declines. Maintaining awareness of both bearish and corrective scenarios will be crucial for effective trading strategies. Stay updated with market developments and adjust your positions accordingly. By Piptera Digital Solutions, Invest Wisely!
Short
by Piptera-Digital-Solutions
The NZDUSD price forecast update June 30thThe NZD/USD pair is trading around 0.60914. The price is currently below both the 100-period and 200-period moving averages, indicating a bearish trend. There is a significant support zone around 0.60313 to 0.59926. This zone had previously acted as a support but has been broken and retested, indicating a potential shift to resistance. Immediate resistance is around 0.60824, just above the current price. The price has recently broken through a significant support level (around 0.60824) and retested it, suggesting a potential continuation of the downtrend. Summary: Right Now it indicates a bearish trend with the price trading below key moving averages and having recently broken a critical support level. Traders should look for selling opportunities on rallies to resistance levels, with potential downside targets near the descending support line around 0.59000. Always ensure proper risk management with stop-loss orders above key resistance levels. What do you think ? Let me know in the comments SIGNAL: SELL: 0.60944 - 0.61085 STOP: 0.61168 TAKE PROFIT: 0.60295 TAKE PROFIT: 0.59948 NOTE: Trade at your own risk. Thank you
Short
by The_Golden_Path
7
NZDUSD to continue in the downward move?NZDUSD - 24h expiry Previous support level of 0.6100 broken. Further downside is expected. Risk/Reward would be poor to call a sell from current levels. Short term RSI has turned negative. The measured move target is 0.6040. We look to Sell at 0.6100 (stop at 0.6124) Our profit targets will be 0.6040 and 0.6025 Resistance: 0.6090 / 0.6100 / 0.6125 Support: 0.6075 / 0.6050 / 0.6040 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
NZDUSD tm:1hHello traders. I hope you doing well. These areas are based on my personal strategy and I will share it with you. Open a sell position on the supply area or open a buy position on the demand area. Your entry point, stop loss, and target point are based on money management and the amount of money in your trading account. But I promise you that by trading in the areas of my trading strategy, you will definitely make a profit, because these areas, although they seem simple, are my experience of 8 years of learning and trading. I hope you will achieve maximum continuous profit with me by using supply and demand areas. Good luck traders. Mohammad Goodarzi
by itsbluemorpho
NZD/USD - Bearish Harmonic Pattern Signals Downtrend TrendThe NZD/USD currency pair is currently exhibiting strong bearish signals. A Bearish Harmonic Pattern has formed at a key resistance area, indicating a potential reversal. Additionally, a Bearish RSI Divergence on the 4-hour chart further supports our bearish bias. _________________Technical Indicators_____________________ Bearish Harmonic Pattern: The Bearish Harmonic Pattern detected at the key resistance level suggests a potential downward movement. This pattern is known for its high probability of signaling trend reversals, reinforcing our expectation of a bearish trend. Bearish RSI Divergence: The Relative Strength Index (RSI) on the 4-hour chart shows a bearish divergence, adding another layer of confirmation to our bearish outlook. The divergence indicates weakening momentum, suggesting that the recent upward movement is losing strength. ___________________Trade Setup_______________________________ Entry and Stop Loss Entry Point: 0.61345 Stop Loss: 0.61535 The entry point is strategically placed below the resistance area to capture the expected downward movement. The stop loss is set slightly above the resistance to protect against potential breakouts. Take Profit Levels: To maximize potential profits, we have set three take profit levels: TP-1: 0.61155 TP-2: 0.60965 TP-3: 0.60775 These levels are based on historical support zones and Fibonacci retracement levels, ensuring logical and technically sound exit points. Conclusion: The confluence of a Bearish Harmonic Pattern and a Bearish RSI Divergence at a critical resistance area strongly indicates a potential bearish trend for the NZD/USD pair. By following the outlined trade setup, traders can effectively capitalize on this anticipated market movement. Always ensure to manage risk appropriately and adjust stop losses and take profits as the market evolves.
Short
by trading_jupiter