Nzdusdshort
NZD/USD Both Entries Running In 180 Pips , New Entry Added This is an educational + analytic content that will teach why and how to enter a trade
Make sure you watch the price action closely in each analysis as this is a very important part of our method
Disclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions
2021.9.17 MM's daily technical analysis -SHORT NZDUSD Hi traders,
NZDUSD has been struggling around 0.71450 trying to break the resistance but failed for days. We have witnessed a comparatively strong downward momentum on the 16th of Sep.
On the hourly chart we can see a downward breakthrough of the 0.7080 level and a short-term low level consolidation would be expected. But long-term wise speaking we would expect a downward movement of NZDUSD turning it back to the consolidation area around 0.70640-0.68020. A retouch of the August low 0.68130 is possible but profit may be cut if a weakening of the momentum is witnessed.
My own trading system CLAM has indicated to go short after the close of the previous daily bar and a trade idea is now established to go short on NZDUSD.
Expected OP: 0.70650 SL:0.71450 TP:0.68130
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NZD/USD SELL OPPUTUNITY now......
Hello Traders, here is the full analysis for this pair,
let me know in the comment section below if you have any questions,
the entry will be taken only if all rules of the strategies will be
satisfied. I suggest you keep this pair on your watch list and see if
the rules of your strategy are satisfied.
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NZDUSD - Bearish BiasNZD - Weak Bearish
1️⃣ A negative market environment can depress high-beta currencies such as the NZD.
2️⃣ The NZD was also weighed down by weak economic data from China on Wednesday.
USD - Strong Bullish
1️⃣ Risk-off sentiment in the market benefits safe-haven currencies.
2️⃣ Investors remain concerned about the global economic slowdown amid the spread of the Delta variant COVID-19.
3️⃣ US retail sales for August are expected to increase on the back of increased wage growth in the country.
4️⃣ The New York Empire State Manufacturing Index jumped to 34.3 in September of 2021 from 18.3 in August and well above market forecasts of 18
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Technical
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We are selling the NZDUSD after it failed to break resistance.
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Risk to this trade
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Any change in sentiment could turn the pair's direction.
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NZDUSD ANALYSISNZDUSD Is ranging between this resistance and support while fighting against a downtrend too, if we see a break of this support area we can enter a sell and possibly test the new support at 0.695 area, if however we this support area holds and we break the downtrend and resistance of 0.71500 we can expect this pair to test the resistance of 0.72500 to continue the uptrend and create a new impulse.
NZD/USD : DOWNTREND | NEW SWING LOW IS COMING ? SHORT VIEW 🔔As we can see this pair has been located since last February within a Descending Channel, followed by Progressive Downward Swing High and Swing Low. NZD/USD has a high correlation with EUR/USD, the latter in our opinion is on the downside. Let's assume another bearish impulse for NZD/USD with the formation of a new Swing Low.
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NZDUSD ShortMy view of NZDUSD . Potential short opportunity.
After a smaller pullback from the current price (0.71071), I would enter at around 0.71249 . We should see immediate moves to the downside. BUT! New Zeland’s GDP q/q report release may cause some bullish movement , as the economy is expected to grow 16.4% per annum in the second quarter. If it does not break the downtrend structure , we should see moves to the downside. Target expected to be hit in 25 days based on the previous movement it has made (this is only a speculation).
PARAMETERS
- Entry: 0.71249
- SL: 0.71962
- TP 1: 0.68125
- TP 2: 0.67137
KEY NOTES
- Apr-Sep LH (lower highs) and (lower lows) on D1. We are in a downtrend .
- New Zeland’s GDP q/q report release on 16th of September 2021 .
- Short confirmed if GDP q/q report release does not break the downtrend structure.
Enjoy the rest of your weekend and happy trading.
NZDUSD > Possibly Great Setup for Sell.Friends I hope you are feeling kind and generous today to give the idea the likes and comments it deserves.
Analysis on #NZDUSD
As you can see on my chart the market is making lower highs and now it is against the trendline resistance and might move down from here.
it is Monday and it is early to take a stand whether to sell or buy the dollar, but keeping an eye on this setup to see if we will get a confirmation to enter a sell trade.
Thank you so much for your support.
Check today analysis below⠀
>>“ Only trade when the probabilities of the market going in your favor are greater than it going against you." TradingAxis