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NZD/USD daily reviewThe previous assumptions about the NZD/USD pair were false, as the rate surged in the second half of Wednesday only to be squeezed in between various hourly simple moving averages. Meanwhile, our analysts did a full review of the pair. Long, medium and short term patterns were discovered. Essentially the currency exchange rate was expected to continue to surge in the short term as soon as it passed the resistance of the 55 and 100– hour simple moving averages near the 0.6920 mark. If that would occur, the most dominant trend line near 0.6950 would be targeted.
Long
by UnknownUnicorn890690
2
NZD/USD reaches supportBy the middle of Monday’s trading session the NZD/USD currency exchange rate had reached the vital support levels near the 0.7150 mark. Coincidentally at that level a dominant support line was located together with the freshly calculated first weekly support level. It is highly important to watch whether that level will hold its ground for some time. If it gets passed, the 0.7090 mark will be reached next. If the rate manages to rebound, a surge back up to the 55-hour SMA could occur. However, the pair’s decline has been largely caused by fundamentals not due to technical reasons. So the rate is more likely going to ignore the technical level’s support.
Long
by UnknownUnicorn890690
NZD/USD confirms channel down patternThe charted channel, which was drawn on Tuesday, on the NZD/USD hourly chart was once more confirmed when the lower trend line managed to force a rebound of the pair. However, the decline down to the trend line did not occur, as previously expected, as the rate still made numerous attempts to break above the previously active ascending pattern’s support line’s resistance. Only after the 55-hour SMA approached from the north the rate began a decline, which managed to pass the support of the 200-hour SMA. In regards to the near future, any scenario is possible, as the only near by technical level is the support line of the rather small scale channel down pattern.
by UnknownUnicorn890690
NZDUSD daily reviewThe New Zealand Dollar continued to lose strength against the US Dollar since it touched the resistance level at 0.7440 on Wednesday at 22:00 GMT. Since then the pair has touched a new higher low level. The pair has broken previously drawn channel , and a new junior channel has been mapped out to trail the currency exchange rate. By the middle of Friday’s trading session, the pair is stranded between the SMAs. Regarding the future trading sessions, the pair is likely to continue the bearish path until it breaches the dominant channel lower trend line.
Short
by UnknownUnicorn890690
NZD/USD daily reviewsAfter the plunging of the New Zealand Dollar against the US Dollar, which took place on Friday, the currency exchange rate suddenly recovered. Moreover, by the middle of Monday’s trading session the currency pair had even surged to new high levels. At 12:00 GMT on Monday the pair had already almost touched the 0.73 mark. In addition, the recent surge of the Kiwi against the Buck can be observed to have occurred in a narrow range short term ascending channel pattern. The pattern is likely going to guide the pair up to the resistance of the weekly R1, which is located at the 0.73 mark.
Long
by UnknownUnicorn890690
GBP/NZD 4H Chart: Breaks junior patternThe Pound has recently ended trading in the junior channel down pattern on the four hourly chart pattern against the New Zealand Dollar. The move was expected due to the fact that the currency pair had touched the lower trend line of a highly speculative medium term channel pattern. The dominant channel is considered speculative, as its trend lines are mildly confirmed. In regards to the medium term future, the pair should form a new junior pattern, which should be an ascending one. However, before that the pair would face a strong resistance cluster near the 1.91 mark.
by UnknownUnicorn890690
1
NZD/USD change of patternsInitially Thursday’s forecast for the Kiwi against the US Dollar continued on, as forecast. However, something strange occurred after the initial move was complete. As Dukascopy analysts expected a rebound against the lower trend line of the previously drawn channel up pattern, the support of the pattern was broken. Instead the surge occurred slightly lower. That gave an opportunity to adjust the channel up. In addition, that caused suspicion and a look at the larger scale was done. Due to that another larger channel up pattern was discovered. Combining these adjustments an ascending triangle was discovered, which should be broken to the downside at the latest next week.
Short
by UnknownUnicorn890690
AUD/NZD 4H Chart: Confirms medium channel downThe Australian Dollar recently surged to confirm a trend line against the New Zealand Dollar. Due to that reason market participants are finally able to draw the previously expected to reveal itself medium size pattern. In regards to the short term the pair is likely going to be pressed into the support of the weekly S1 at the 1.1050 mark. It will be done by the resistance of the 55 and 100-period simple moving averages. Meanwhile, one needs to take into account that the four hour candles, if moved away from the simple moving averages, are likely to become larger. Namely, volatility will increase.
Short
by UnknownUnicorn890690
EUR/NZD 4H Chart: Set for more gainsThe Euro is surging in a very steep angle against the New Zealand Dollar. The surge began, as the support of a channel up pattern was strong enough to force the pair higher. In addition, the appreciation of the Euro against the Kiwi does not seem to slow down almost at all, when it faces various resistance levels. Most recently the pair slowed down the surge to find more support in the weekly R2 at the 1.7048 mark. The next target for the rate in the case of a surge should be the 1.72 mark, where the weekly R3 is providing resistance. Most likely that level will be reached soon, as even the speculative ascending patterns do not provide resistance below 1.72 level.
Long
by UnknownUnicorn890690
AUD/NZD 4H Chart: Near Broken Trend LineThe situation on the AUD/NZD charts is quite rare. The pair has broken the resistance of a massive scale triangle pattern. The break out occurred in the borders of a dominant channel up pattern, which is set to guide the rate higher in the long term. Meanwhile, in regards to the smaller scale situation, the pair has retreated in an almost obsolete channel down pattern in the borders of the channel up pattern. The channel down is set to be broken because of the support of the ascending channel. In addition the situation is complicated by the still active resistance of the triangle pattern near the 1.1150 mark.
Long
by UnknownUnicorn890690
AUD/NZD 4H Chart: Recent Jump ChartedThe previous analysis of the AUD/NZD pair turned out to be correct. To the letter. However, the following surge turned out to become a jump not a surge. After finding support below the 1.0980 mark the pair skyrocketed to the 1.1250 level. Meanwhile, the pair’s surge was stopped on Friday, which provided an opportunity to do some pattern analysis. After connecting the low levels of October 16 and setting a parallel line at the recent high levels, an ascending channel was drawn. Although, the channel still allows for both a short term decline and a surge, as it has the particular angle that allows both moves simultaneously. In the case of a surge the monthly R2 at 1.1266 is the next target, and, if the pair declines, the weekly R3 will provide support on Friday at 1.1117 mark.
Long
by UnknownUnicorn890690
NZD/JPY 4H Chart: Channel Reaches Dominant SupportThe New Zealand Dollar just plummeted against the Japanese Yen. The fall, however, was stopped by the most dominant support, which Dukascopy analysts could discover on the pair’s charts. The support belongs to a massive scale ascending triangle pattern of the daily chart. Due to that reason a rebound is to be expected in a rather long term for forex traders. In that scenario the pair would first attempt to break through the various pivot points, simple moving averages until it reaches the resistance line of the a few months long channel down pattern. Afterwards, the pair should break the just mentioned resistance and continue even higher.
Long
by UnknownUnicorn890690
NZD/JPY heading for long term supportThe New Zealand Dollar has reached a notable support level against the Japanese Yen. The support is represented by the weekly S1 at the 0.7935 level. Due to that reason it can be stated that the rate is at a significant point. The Kiwi is either going to rebound against the support level to reach once more for the 50.00% Fibonacci retracement level at the 0.7982 level, which would likely provide the needed resistance to reinforce the decline. All in all, in accordance with the dominant situation, the rate should decline down to the cluster of support from the 78.65 to 78.80 levels, as right there the long term support line is surrounded by various other levels.
Short
by UnknownUnicorn890690
NZD/USD approaches dominant supportThe New Zealand Dollar against the US Dollar has favored the long term traders, as it has fallen in the last few trading sessions like a rock. Various medium term patterns have been broken, and, actually, their drawing proved to benefit only to show the short term stops of the pair. On Wednesday the currency pair was about to fall down to the support of the weekly S2 at the 0.7179 level. The reason for that is the simple technical fact that the various supporting SMAs of the hourly chart have been left far above the pair.
Short
by UnknownUnicorn890690
EUR/NZD Channel Up - Before Draghi's SpeechThe choice to review the EUR/NZD pair was made due to the rather high demand for it during the recent 24 hours on the Swiss Foreign Exchange and the fact that it does not involve the US Dollar. From a technical perspective the rate is set to decline during the next 24 hours, as it faces strong resistance from 1.6365 to 1.6481 levels, and there is no support as low as 1.6230 mark. However, the rate can still be influenced by the speech of Mario Draghi at 19:00 GMT in Jackson Hole. Although, the ECB President is most likely going to be bullish, as he has been pressured by the heads of the EU to stop with the QE, which could provide the needed push through the resistance levels.
Long
by UnknownUnicorn890690
NZD/USD positioned for gainsThe situation on the hourly NZD/USD chart is very similar to the situation on other commodity charts. The pair has found support in a combination of the 55-hour SMA and the lower trend line of the junior ascending channel pattern. The rate is most likely going to surge up to the 0.7350 mark, where the weekly R1 is located at. In addition, near that level the resistance line of the dominant channel down pattern is located at. However, it has to be taken into account that during the last few weeks, the pair has not managed to pass a resistance level near the 0.7330 mark. Although, the basis for the resistance is for now unclear.
Long
by UnknownUnicorn890690
NZD/USD does not confirm patternThe NZD/USD currency exchange rate continues to move as expected, in general. The issue it that the speculated lower trend line of the medium term descending pattern was passed on Thursday morning. The proposed support actually acted as a resistance to the currency exchange rate. However, after a period of fluctuations the currency pair returned to test the resistance cluster near the 0.7425 mark. The reason for that was the 100-period SMA of the four hour chart, which was unnoticeably providing support to the Kiwi against the US Dollar. Although, the medium term downwards direction has not been changed. The rate is most likely going to bounce off the resistance cluster at 0.7425 and continue to move to the lower trend line of the dominant pattern.
by UnknownUnicorn890690
NZD/USD breaks ascending patternThe New Zealand Dollar suffered losses against the US Dollar during the first half of Tuesday’s trading session. The currency pair even broke out of the ascending channel pattern to the downside. As a result of the break out, the pair fell down until it found support in the 200-hour SMA, which was located at the 0.7460 mark. It is highly possible that until the end of the day’s trading the pair will approach the resistance of the weekly PP, which is located at the 0.7492 level. Moreover, the weekly pivot point is strengthened by the 55 and 100-hour simple moving averages at 0.7498 level. Most likely after encountering the resistance cluster the currency pair will continue the decline. In addition, it can be expected that the rate will soon reveal a new descending pattern.
Short
by UnknownUnicorn890690
2
Nice quick low risk, high probability shorting opportunity.My area of entry is wrapped within the black lines. Stop is the red line and my target is the green line. I'm looking for a retracement to my entry area. I'm anticipating that price will most likely retrace from the .7196 area or quite possibly the .7185 area where I expect price to base some but I doubt that will prevent price from reach the target. I waited to see price trade below the .7197 area just to be sure there was enough momentum origination from my entry. Had price not been able to trade below that area, I wouldn't even consider taking this trade.
Short
by MrBollinger