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Usdnzd

USDNZD Long Setup & AnalysisWe have a pretty interesting situation with the USD/NZD pair and this can open a few opportunities which we can capitalize from. From a COT perspective the New Zealand Dollar is in a neutral position. Neither long nor short contracts dominate the market and this gives a chance for the US Dollar to shine. A further decline in gold price may be a signal for the beginning of the USD recovery. From a technical perspective price has been in a closed triangle since 2015 and a second upper trendline has finally formed from the multiple false breakouts during the COVID-19 Pandemic spikes. Right now, price has reached the 1.4900 zone, where it met with the bottom trendline of the closed triangle and with the monthly critical demand zone. We will follow this scenario: 1. If we see a strong monthly close, price will move towards the 1.7000 area, where we have a triple confirmation point- the 0.618 Fibonacci level, a monthly supply zone and the crossover of two monthly trendlines. Since there are a lot of visible monthly (and one daily) critical supply/demand levels, price will build new HH according to them. If this scenario happens, we can achieve a win with more than 1600 pips. If you like my analysis, please leave a like, follow or comment. Happy Trading!
Long
by SigmaTrading
2
USDNZD on a falling wedge? 🦐USDNZD has found resistance on daily trendline and created a double bottom over it. The market recently has been moving in a falling wedge formation and market found resistance on the possible break area around 1.51 area. If the market will manage to break and close above the 4h structure we can set a nice long order according with our strategy. ––––– Follow the Shrimp 🦐 Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
Long
by InkyGrip
4
Week ahead: GDP and InflationWeek ahead: GDP and Inflation It is a busy week ahead for the markets as the Coronavirus is still front and center. Oil is up 75% in the past month while tensions between the United States and China escelates. Traders and investors should take caution when entering into the markets this week.. As of today, the Coronavirus death toll stands at 343,116 as the United States edges towards the grim milestone of 100,000 deaths. All dates are in NZDT. Mexico’s GDP Growth rate – Tuesday, May 26th Mexico has recorded 7,179 deaths implying a near 11% fatality rate. With over 50 million residents being in relative poverty in a population of 130 million, their Coronavirus “curve” is unlikely to flatten in the short term. Furthermore, the IMF predicts negative GDP growth of -7.1%, down from -.5%. This is on the back of President Andres Obrador, stating that they will implement a “Happiness Index” alongside their GDP releases. Currencies to look out for: USD/MXN US CB Consumer Confidence, GDP Growth Rate and Core PCE Price index – May 27th, 29th and 30th As the United States edges towards 100,00 deaths due to the Coronavirus, President Donald Trump insists on getting the economy going again. Analysts regard this as gambling on the lives of American Citizens. However, with stimulus checks and working from home be prevalent in the past couple of weeks, the US consumer is predicted to splurge once physical retail opens. A drop from 118.8 to 86.9 last month, analysts predict a slight jump to 88 this month. Alongside this, results on the GDP quarter over quarter is expected to drop 6.9% from 2.1% to -4.8%, with the core PCE Price Index expected to drop to 1.1% from 1.7%. The Core Personal Consumption Price Index is the Feds preferred inflation measure. Currencies to look out for USD/NZD, USD/AUD Friday, 29th May – Euro Core Inflation Rate With the Majority of Europe slowly flattening the curve, plans of a $545 Billion recovery fund backed by debt from the majority of the richer countries in the European Union has come into fruition. Therefore, Europe will be able to “raise money and transfer directly to the countries, regions, and industries most in need, without further impairing their economic situation by increasing their debt,” Euroasia’s Mujtaba Rahman stated to the New York Times. Even alongside the ECB ramping up their Asset purchasing program, demand for goods and services due to the Coronavirus is expected to have a net decline. Inflation is expected to drop this week ahead to 0.8%, from 0.9% Currencies to look out for: EUR/USD, EUR/GBP Sunday, 31st May – China’s NBS Manufacturing PMI With their recent move to take control of Hong Kong to defend itself from attacks regarding the origins of the Coronavirus, China has been center stage in the Coronavirus and Scrutiny. With Li Keqiang announcing that they will abandon setting their annual target for GDP, their focus shifts to employment with a $500B stimulus package ensuring employees can keep their jobs. This is on top of the myriad government stimulus provided, ensuring liquidity within the financial markets and providing loans to small to medium businesses. A large chunk of the stimulus is predicted to go to infrastructure projects, like that in 2008. With a drop to 20.8 from 52 in April, a boost in government stimulus may see the PMI increase. Currencies to look out for: AUD/USD With tensions between different political parties rise alongside election season being in full swing amongst many countries, investors and traders this week ahead should prepare for an increase in volatility as statements for influential figures may cause key currencies and indices to swing violently.
C
by BlackBull_Markets
DXY big picture captured by HarmonicTrader Hİ all, Not investment advise DXY is also critical level something like others.. 1 month chart End of the Crab harmonic pattern we can see two pullback tests for D Point,after the first pullback price has reached first reversal target (TP1=90.61) Frow now on price is most critical in line.. Why? First Option I am expecting expanded / irregular flat ABC correction If the expanded is done B breaks A wave (102.61) Then Reversal C should go TP2 correction level of CRAB Pattern. That is end of the forth wave. Finally next move for dxy is 1 mont Bearish BAT Pattern (114x) because of the completion fifth wave, that is 0.886 fibonacci level , maybe see alternate bat 1.13 fibonnacci level but too early to talk about alternate bat. (1 month chart) Yes, that is long term dxy harmonic trader analysis.. Good luck.
TVC:DXYShort
by bariscoskun
1
NZD/USD (SHORT) - Technical and Fundamental AnaylsisI will be looking to enter a short trade in the area depicted by the purple box. From a technical perspective, we can see that should price return to this level it will face overhead resistance from the third touch of the trend line. Furthermore, we have the added confluence of the 50 EMA aligning almost perfectly with the trend line, as well as the fact the MACD is showing no signals of a shift in the downward momentum. Looking at the higher time frames, we can see that NZD/USD was already in a downtrend and this has now been worsened by the outbreak Covoid-19. It is expected the virus will have a significant impact on the global economy due to the supply chain disruption caused by the closure of Chinese factories, and the past couple of days have shown us that the US economy and therefore the dollar are not immune to this. However, the New Zealand Economy is far more exposed that its US counterpart and therefore more at risk to a downturn. I am therefore shorting NZD on the basis that the fundamental negatives are worse for its economy than for those of the USD. The first target will be the 0.624 area
Short
by PhantomForex