Weekly FOREX Forecast: USD Is Strong Vs EUR, GBP, AUD NZDThis is an outlook for the week of Nov 4 - 8th.
In this video, we will analyze the following FX markets: USD Index, EUR, GBP, AUD, and NZD.
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NZDUSD Bullish Week**NZD Dollar Value Correlation to USD
>We are now in the Oversold region Signaling for a bullish trend week.
Note: Every time we get Oversold Readings (Green Vertical Lines) we always get a Bullish Move
**Election Year Seasonality forecast
>Bullish until early next Week.
Technicals:
>Price al
NZD Approaches Key Supply Zone: A Potential Short OpportunityThe New Zealand dollar is approaching a critical supply area that has captured our attention, signaling a potential opportunity to set up a short position. This zone is key, and we are closely monitoring for a possible test of this area to confirm our bearish setup. However, it's important to note t
6N HL MTR from demand areaPossible range trade, and best case MM Up
- Target range top
- Target 2 Range width up
- Target 3 Trend leg up
Possible Expanding Triangle - New Zealand DollarA possible expanding triangle setup on the 4hour of the NZD. Assuming the US Dollar continues with strength we could possibly see a D wave to around 0.60470 for NZD.
Wave A represents 38.2% of the last downtrend wave in expanding triangle.
Wave B represents 1.272% of wave A in expanding triangle.
W
What’s ahead for the dollar?As the year draws to a close, it's an opportune time to evaluate the potential trajectory of the dollar going forward.
From a broader perspective, we anticipate a regime shift for the dollar in 2024, potentially marking significant turning points for the major dollar pairs. Notably, since the 1
NZDUSDNZDUSD is ready to Sell. Every good setup is most probable trade not 100%. Always use money Management.
NZDFinancial Losses: Trading in the Forex market carries the risk of financial loss. It's important to carefully assess your financial situation and only invest funds that you can afford to lose without affecting your lifestyle or essential financial obligations.
NZD Futures NASDAQ:NZD futures retracted to 618 and looks as if it will make a long slide down.
Daily support level 0.60100 🎯
Safe to short NASDAQ:NZD currency pairs this week.
Short New Zealand DollarThe last COT index signal was bearish. The saisonality show a strong bearish trend for the next weeks. Addtionally, the price was rejecte twice in the red resistane box. Next support expected at 0.62.
SL: 0.6601
Target 1: 0.62
Target 2: ~0.58 (suppot by red trendline)
RR (Target 2): 1.7
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Displays a symbol's price movements over previous years to identify recurring trends.
A representation of what an asset is worth today and what the market thinks it will be worth in the future.
Frequently Asked Questions
The nearest expiration date for New Zealand Dollar Futures (Sep 2019) is Sep 16, 2019.
Traders prefer to sell futures contracts when they've already made money on the investment, but still have plenty of time left before the expiration date. Thus, many consider it a good option to sell New Zealand Dollar Futures (Sep 2019) before Sep 16, 2019.