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Nzdusdshort

NZD is approaching pivot, potential for breakdown!Price broke down and retested the ascending trendline support-turned-resistance is approaching pivot level at 0.70850 which is in line with 23.6% Fibonacci retracement level, 61.8% Fibonacci extension level and horizontal overlap support. If price could breakdown below pivot, it could potentially push down further to support at 0.70115, in-line with 50% Fibonacci retracement level, 61.8% Fibonacci extension level and 200MA. Alternatively, price could swing towards resistance at 0.71700, in-line with 100% and 127.2 Fibonacci retracement level and swing high resistance. Pivot: 0.70850 Why we like it: 23.6% Fibonacci retracement level, 61.8% Fibonacci extension level and horizontal overlap support 1st Support: 0.70115 50% Fibonacci retracement level, 61.8% Fibonacci extension level and 200MA 1st Resistance: 0.71700 100% Fibonacci retracement level and 127.2% Fibonacci extension level Trading FX & CFDs carries high risk.
Short
by VantageMarkets
NZDUSD | Perspective for the new week | Follow-up detailsIt's over 300pips move in our direction since my last publication on this pair (see link below for reference purposes) and the appearance of a Double Top pattern is leaving me with no choice but to look out for Bearish momentum in the coming week(s). There is high hope for the Greenback in the nearest future as the focus remains on the Fed tapering timeline Tendency: Downtrend (Bearish) Structure: Supply & Demand | Reversal pattern (Double Top) Observation: i. The Kiwi enjoyed a tremendous 5.33% gain over the Dollar in the last 3 weeks but appears to have found Resistance @ $0.71700 which gave rise to a Double Top structure. ii. Double Top: An extremely bearish technical reversal pattern forms after price tested the peak ($0.717000/0.71600) two consecutive times with a moderate decline between the two highs with confirmation awaiting us if the price falls below the Demand level which is equal to the low between the two prior highs. iii. The appearance of a couple of shooting star candlesticks on the last trading days of last week further emphasizes the expectation of a plunge in the coming week(s). iv. Shooting star: the price tried to rise significantly during the last two days (9th/10th Sept 2021), but then the sellers took over and pushed the price back down. iii. Even as we remain patient for confirmation in the Breakdown of Neckline, I am comfortable being in this trade anywhere below Key level @ $0.71200... Trade consciously!😊 Trading plan: SELL confirmation with a minimum potential profit of 150 pips. Risk/Reward : 1:5 Potential Duration: 5 to 10days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
2
NZDUSD - Multiple timeframe bearish indicationWeekly / Daily - We are currently at a crucial spot, golden fib area and third touch of the trend line for a possible new downtrend continuation on the long term perspective. 4H - Interesting spot to take a short: resistance level of a possible head and shoulder pattern or break and retest of 0.70800 (important psychological key level), or both (as shown in the picture). Price also retested the trend line a second time making the first lower high last Friday. (Indication of a reversal of the 4H short term previous uptrend) 1H / 15-30 Min - Look out for price action signals when price is at those key levels mentioned on the 4H (e.g. engulfing candles, rejection wicks, evening star etc..)
Short
by andrefx24
1
NZDUSD - Bearish BiasNZD - Weak Bearish 1️⃣ A negative market environment can depress high-beta currencies such as the NZD. USD - Strong Bullish 1️⃣ Risk-off sentiment in the market benefits safe-haven currencies. 2️⃣ The rising in U.S. Treasury yields supports the strength of the U.S. dollar. 3️⃣ President of the Federal Reserve branch of St. Louis, James Bullard proposed to cut the central bank’s bond-buying program despite the recent weaker U.S. jobs data. ===== Technical ===== We are selling the NZDUSD after it to break the resistance and pullback. ===== Risk to this trade ===== Any change in sentiment could turn the pair's direction. Don't forget to like, comment, and subscribe for more ideas.
Short
by MonsunAsia