Nzdusdsignal
NZDUSD Top-down analysis Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
NZDUSD ____ INCOMING BEARISH MOVEHello Traders,
If you follow me already, you would know I get my directional bias for USD-related pair from the dollar index. My outlook for the dollar is bullish (see below the analysis) which means that this week and going forward, NZDUSD should be bearish.
Right now, NZDUSD has traded into the weekly FVG, and from here, we may commence the bearish move. (See my previous analysis of NZDUSD below)
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Dollar Index analysis
Previous NZDUSD analysis
This week's analysis on GBPUSD
Cheers,
Jabari
DeGRAM | NZDUSD pullback tradingNZDUSD is trading in the descending channel.
Price pulled back from the support level. There's a confluence level where resistance level 50% fibo perfectly lines up with it.
We expect the bearish trend to continue at the channel border.
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NZDUSD ____ SHORT-TERM BULLISH LONG-TERM BEARISHHello Traders,
As you already know if you follow me, I am bullish on this pair because of my outlook on the dollar index and how this pair has structured itself.
I expect the price to trade into the daily order block, then rally into the weekly FVG for the long-term bearish move.
Follow for more updates.
See my analysis on DXY, EURUSD, and GBPUSD
DXY
EURUSD
GBPUSD
Cheers,
David
NZDUSD Strong Resistance Long opportunityHi traders!
According to my analysis, the NZD/USDcurrency pair is expected to increase, presenting a potential Long opportunity. The basis for this expectation is the recent crossing of the price Above the 100 - period Weighted Moving Average (WMA), indicating a Bullish signal. Additionally, there is a strong resistance level that further strengthens the case for an upward movement in the price.
Have trading day ahead!
Market Over-Reacts? NZD tanks more than 2% The New Zealand dollar experienced a significant drop of over 2% on Wednesday, reaching its lowest level in more than three months at $0.6039. This decline followed the Reserve Bank of New Zealand's (RBNZ) expected decision to raise cash rates by 25 basis points to 5.5%. However, the central bank also hinted that it might conclude its tightening campaign, which likely contributed to the currency's decline. In more positive news, inflation expectations eased during the first quarter, dropping from 3.30% to 2.79%, potentially solidifying the RBNZ's choice to halt further rate hikes.
Analyzing the 1-hour chart of the NZD/USD pair, it is evident that it broke below the previous swing low at 0.6111. However, the selling momentum may have started to weaken in the past hour, as indicated by the extreme oversold condition of the Relative Strength Index (RSI) and the pair's inability to close below 0.6100. The next target for a downward movement could be 0.6092, which seems to be the level where current sellers feel comfortable probing further.
One potential explanation for this slowdown could be the release of the latest Federal Open Market Committee (FOMC) minutes. The minutes revealed a division among Federal Reserve officials during their previous meeting regarding the future direction of interest rates. Some members believed that further rate increases were necessary, while others anticipated a slowdown in economic growth that would negate the need for additional tightening measures. As a result, the committee decided to remove the phrase "additional policy firming may be appropriate" from its post-meeting statement.
Market expectations currently indicate that the rate increase in May will be the final one in the current cycle. Furthermore, there is speculation that the Federal Reserve may reduce rates by approximately a quarter percentage point before the year's end. If this prediction holds true, it could be argued that the sharp decline in the New Zealand dollar is an overreaction.
NZD/USD 4H chart analysis, time for a pullback?As expected, NZD/USD fell strongly from the 0.6380 resistance level in the 4Hour chart. Since then, price
is down 2%. At present, it seems NZD/USD is consolidating in the dynamic support level in the 4H chart.
If we can see multiple bullish candles in the 0.6250 level, it would indicate that a pullback is about to happen.
However, I do no recommend buying right away.
Sellers can wait for a pullback to 0.6350 before selling again.