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NZD/USD Futures

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FCNU1! trade ideas

NEW ZEALAND DOLLAR FUTURES (6N1!), H1 Potential for Bearish DropType : Bearish Momentum Resistance : 0.62475 Pivot: 0.61855 Support : 0.61190 Preferred Case: On the H1, with price moving below the ichimoku cloud and within the descending channel , we have a bearish bias that price will rise and drop from the pivot at 0.61855 in line with the pullback resistance, 78.6% fibonacci projection, 61.8% fibonacci projection and 50% fibonacci retracement to the 1st support at 0.61190 where the 127.2% fibonacci extension and 61.8% fibonacci projection are. Alternative scenario: Alternatively, price may break pivot structure and rise to the 1st resistance at 0.62475 where the swing high resistance and 127.2% fibonacci extension are. Fundamentals: No Major News
CME:6N1!Short
by Genesiv
NEW ZEALAND DOLLAR FUTURES (6N1!), H1 Potential for Bullish RiseType : Bullish Rise Resistance : 0.63190 Pivot: 0.62480 Support : 0.61865 Preferred Case: On the H4, with price moving above the ichimoku cloud and has broken through the descending trendline, we have a bullish bias that price will rise to the pivot at 0.62480 in line with the swing high resistance and 61.8% fibonacci retracement . Once we have upside confirmation that price has broken past pivot , we would expect bullish momentum to carry price to the 1st resistance at 0.63190 where the swing high resistance and 161.8% fibonacci extension are. Alternative scenario: Alternatively, price may drop to the 1st support level at 0.61865 in line with the pullback support and 61.8% fibonacci projection . Fundamentals: No Major News
CME:6N1!
by Tickmill
NEW ZEALAND DOLLAR FUTURES (6N1!), H1 Potential for Bullish RiseType : Bullish Rise Resistance : 0.63190 Pivot: 0.62480 Support : 0.61865 Preferred Case: On the H4, with price moving above the ichimoku cloud and has broken through the descending trendline, we have a bullish bias that price will rise to the pivot at 0.62480 in line with the swing high resistance and 61.8% fibonacci retracement. Once we have upside confirmation that price has broken past pivot, we would expect bullish momentum to carry price to the 1st resistance at 0.63190 where the swing high resistance and 161.8% fibonacci extension are. Alternative scenario: Alternatively, price may drop to the 1st support level at 0.61865 in line with the pullback support and 61.8% fibonacci projection . Fundamentals: No Major News
CME:6N1!Long
by Genesiv
NZDUSD Fundamental Analysis – August 26th 2019Here is the key factor to keep in mind today for New Zealand Dollar trades: New Zealand Trade Balance: The New Zealand Trade Balance for July was reported at -NZ$685M monthly and at -NZ$4,463M 12-month year-to-date. Economists predicted a figure of -NZ$254M and of -NZ$5,012M. Forex traders can compare this to the New Zealand Trade Balance for June which was reported at NZ$365M monthly and at -NZ$4,937M 12-month year-to-date. Exports for July were reported at NZ$5.03B and Imports were reported at NZ$5.71B. Economists predicted a figure of NZ$5.05B and of NZ$5.20B. Forex traders can compare this to Exports for June which were reported at NZ$5.01B and to Imports which were reported at NZ$4.65B. Here are the key factors to keep in mind today for US Dollar trades: US Chicago Fed National Activity Index: The US Chicago Fed National Activity Index for July is predicted at 0.05. Forex traders can compare this to the US Chicago Fed National Activity Index for June which was reported at -0.02. US Preliminary Durable Goods Orders: US Preliminary Durable Goods Orders for July are predicted to increase by 1.0% monthly and Durables Excluding Transportation are predicted flat at 0.0% monthly. Forex traders can compare this to US Durable Goods Orders for June which increased by 1.9% monthly and to Durables Excluding Transportation which increased by 1.0% monthly. Capital Goods Orders Non-Defense Excluding Aircraft for July are predicted flat at 0.0% monthly and Capital Goods Shipments Non-Defense Excluding Aircraft are predicted to increase by 0.3% monthly. Forex traders can compare this to Capital Goods Orders Non-Defense Excluding Aircraft for June which increased by 1.5% monthly and to Capital Goods Shipments Non-Defense Excluding Aircraft which increased by 0.3% monthly. US Dallas Fed Manufacturing Activity Index: The US Dallas Fed Manufacturing Activity Index for August is predicted at -4.5. Forex traders can compare this to the US Dallas Fed Manufacturing Activity Index for July which was reported at -6.3. Should price action for the NZDUSD remain inside the or breakout above the 0.6340 to 0.6410 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 0.6375 Take Profit Zone: 0.6585 – 0.6665 Stop Loss Level: 0.6580 Should price action for the NZDUSD breakdown below 0.6340 the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 0.6315 Take Profit Zone: 0.6170 – 0.6235 Stop Loss Level: 0.6340
by PaxForex