NZDUSD - Daily - Short - Part.2Bias still remains the same: Heavily bearish.
- Two positions open. Takeprofit at the bottom of the range. This could take weeks...
NZDUSD trade ideas
NZDUSD BUYGood afternoon traders!! I hope you all are having a great trading week so far. This is my analysis on NZDUSD!!
Let me know what you guys think so far!!
Short nzdIm shorting nzd because Prices have reached a reasonable supply point around .6195 , i expect to see price drop to .6127 to .6083 area where there was demand in the past, which maybe overwhelmed.
Short nzdIm shorting nzd because Prices have reached a reasonable supply point around .6195 , i expect to see price drop to .6127 to .6083 area where there was demand in the past, which maybe overwhelmed.
NZDUSD: Time for Retracement?! 🇳🇿🇺🇸
NZDUSD may retrace from a key daily/intraday horizontal resistance.
As a confirmation, I see an inverted cup and handle pattern
on an hourly time frame.
The price may reach 0.6166 level today.
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NZD/USD SENDS CLEAR BEARISH SIGNALS|SHORT
Hello, Friends!
Previous week’s green candle means that for us the NZD/USD pair is in the uptrend. And the current movement leg was also up but the resistance line will be hit soon and upper BB band proximity will signal an overbought condition so we will go for a counter-trend short trade with the target being at 0.614.
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FOREX (NZDUSD) All long targets done using RisologicalFOREX (NZDUSD) All long targets done using Risological
Nice forex trade (NZDUSD) on Risological.
All long trade targets done nicely on the 15m time frame.
The Trailing stop is at 0.61645, so, small portion of the trade is still open for further upward profits.
If the price closes (15m candle close) below the Risological trend line - the dotted line acting as trailing stop, that will be the sign of trend reversal and we will look at fresh short position.
Thanks and all the best.
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NZDUSD Potential DownsidesHey Traders, in today's trading session we are monitoring NZDUSD for a selling opportunity around 0.62200 zone, NZDUSD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.62200 support and resistance area.
Trade safe, Joe.
Potential bullish rise?NZD/USD has reacted off the support level which is a pullback support and could rise from this level to our take profit.
Entry: 0.6171
Why we like it:
There is a pullback support.
Stop loss: 0.6120
Why we like it:
There is a pullback support level.
Take profit: 0.6252
Why we like it:
There is an overlap resistance level that aligns with the 78.6% Fibonacci retracement.
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Potential bullish rise?The Kiwi (NZD/USD) has reacted off the pivot which has been identified as an overlap support and could rise to the 1st resistance which acts as an overlap resistance.
Pivot: 0.6164
1st Support: 0.6126
1st Resistance: 0.6232
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With the breakout in gold, FX pairs may move into EOWWith gold breaking higher, the EURUSD, GBPUSD, AUDUSD and NZDUSD may break or continue to build their bull flag patterns. No data to move the markets, stocks continue to squeeze, the end of the week could bring you more of the same of what we saw today.
NZ dollar drifting ahead of manufacturing dataThe New Zealand dollar is showing little movement on Thursday. NZD/USD is trading at 0.6139 at the time of writing, up 0.05% on the day.
New Zealand’s manufacturing sector has been in the doldrums, as the manufacturing PMI has posted 17 consecutive declines. Friday’s PMI is expected to improve to 47 in August, up from 44 in July (a reading below 50 points to contraction). The New Zealand economy has deteriorated and in August the Reserve Bank of New Zealand responded with its first rate cut since March 2020. The RBNZ has joined the club, as most major central banks have lowered rates and the Federal Reserve is poised to do so next week.
The RBNZ will be looking to continue lowering rates, as the cash rate of 5.25% remains high and is weighing on economic activity and households. Inflation has dropped to 3.3%, which is close to the target of between 1% and 3%. The central bank meets next on Oct. 9 and there is pressure on the RBNZ to follow up with a second straight rate cut.
In the US, today’s inflation numbers were a mix. Headline producer prices rose 1.7% Y/Y in August, following a downwardly revised 2.1% gain in July and just below the market estimate of 1.8%. However, core PPI rose from 2.3% to 2.4%, below the estimate of 2.5%. Today’s PPI data didn’t budge the market pricing of a Fed rate cut, with an 87% probability of a 25-bps cut next week, according to the CME FedWatch tool. Still, not everybody is on board for small cut – JP Morgan is projecting that the Fed will deliver a jumbo 50-bps reduction.
NZD/USD is testing resistance at 0.6134. Above, there is resistance at 0.6160
There are support lines at 0.6110 and 0.6084
NZD/USDTechnical Analysis: NZD/USD
Before using this signal and analysis, be sure to check your analysis chart.
Attention!!!
In these analyses, only technical analysis is considered
Therefore, be sure to check the initial news before entering.
Attention!!!
If the trading symbol of the bank is closed, do not trade that symbol!!
Attention!!!
100% does not exist in financial markets
So don't enter this signal hoping for a definite profit
NZDUSD - AnalysisPotential trade here. Head and shoulders inside another head and shoulders. Price is respecting bearish structure. I'm weary of the 200 ema acting as magnetic support. I'd like to see a retest of this neckline before taking a sell position
NZD/USD Gains Amid Risk-On Sentiment But Downside Risks RemainThe NZD/USD pair saw gains this week, driven by a positive shift in market sentiment following the release of the U.S. Consumer Price Index (CPI) data for August on Wednesday. The headline inflation figure dropped to a three-year low, easing concerns about persistently high inflation in the U.S. and increasing the likelihood of a 25-basis point rate cut by the Federal Reserve in the near future. This risk-on mood has provided short-term support for the New Zealand Dollar (Kiwi), as investors temporarily shifted their focus away from risk-off assets like the U.S. Dollar.
Despite this positive development, the Kiwi's upside potential may be limited. The Reserve Bank of New Zealand (RBNZ) is expected to implement additional rate cuts by the end of 2024, as the country's economic outlook remains uncertain. A dovish stance by the RBNZ could weigh on the NZD in the long term, especially as market participants adjust their expectations for future monetary policy decisions.
From a technical analysis perspective, NZD/USD remains vulnerable to further downside pressure. After reversing from a key supply area (as highlighted in our previous analysis), the pair could be poised for a continued decline. Retail traders remain bullish on the NZD, but data shows that institutional players, often referred to as "smart money," have taken a more cautious approach, with lower positioning in the currency. This divergence in sentiment suggests that the current bullish momentum may be short-lived, and a bearish continuation could be on the horizon.
In summary, while the NZD/USD pair has gained ground due to improved risk appetite following the U.S. CPI release, the broader outlook remains bearish. The prospect of further RBNZ rate cuts, combined with the positioning of institutional investors, suggests that the Kiwi may face additional downward pressure in the coming weeks. Traders should watch for key technical levels and remain alert to shifts in market sentiment.
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NZDUSD BUYGood afternoon traders!! I hope you all are having a great trading week so far. This is my analysis on NZDUSD!!
Let me know what you guys think so far!!
NZDUSD Breakout And Potential RetraceHey Traders, in the coming week we are monitoring NZDUSD for a selling opportunity around 0.61800 zone, NZDUSD was trading in an uptrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the retrace area at 0.61800 support and resistance zone.
Trade safe, Joe.
Bearish revrsal?NZD/USD is rising towards the resistance level which is a pullback resistance that lines up with the 38.2% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 0.6171
Why we like it:
There is a pullback resistance level that aligns with the 38.2% Fibonacci retracement.
Stop loss: 0.6234
Why we like it:
There is a pullback resistance level.
Take profit: 0.6091
Why we like it:
There is a pullback support level that is slightly above the 50% Fibonacci retracement.
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Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
NZDUSDNU is struggling between support zones to get great potential to drive to resistance again, this may take a few hours or maybe one day to get this point
NZDUSD SHORTNZDUSD has given multiple bearish indicators started with the H&S pattern at the top of a major resistance zone. This could be an indication of trend reversal. I also observed a bearish triangle pattern that has been broken. The 20 and 200 ema cross is looming and this could be a signal for a big downward move coming with the next few days.
NZDUSD - Technical Analysis [Long Setup]🔹 NZDUSD Analysis on 1HR chart
- The current Trend is Bullish
- Bullish Divergence is Present
- No Reversal pattern
- Waiting for a Break of Structure for Confirmation
🔹 Trade Plan
- Entry Level = 0.61647
- Stop Loss = 0.61072
- TP1 = 0.62223
- TP2 = 0.62802
🔹 Risk Management
- First TP is 1:1
- Second TP is 1:2
🔹 How to Take Trade?
- Only risk 2% of your portfolio
- Take 1% risk entry with 1:1 RR
- Take 1% risk entry with 1:2 RR
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Market Analysis: NZD/USD Trim Gains, Are Bears Back?Market Analysis: NZD/USD Trim Gains, Are Bears Back?
NZD/USD is also moving lower and might struggle to recover above 0.6200.
Important Takeaways for NZD/USD Analysis Today
- NZD/USD declined steadily from the 0.6255 resistance zone.
- There is a key bearish trend line forming with resistance at 0.6155 on the hourly chart of NZD/USD at FXOpen.
NZD/USD Technical Analysis
On the hourly chart of NZD/USD on FXOpen, the pair also followed a similar pattern and declined from the 0.6255 zone. The New Zealand Dollar gained bearish momentum and traded below 0.6205 against the US Dollar.
The pair settled below the 0.6190 level and the 50-hour simple moving average. Finally, it tested the 0.6125 zone and is currently attempting a minor recovery wave. There was a move above the 23.6% Fib retracement level of the downward move from the 0.6254 swing high to the 0.6124 low.
Immediate resistance on the upside is near 0.6150. There is also a key bearish trend line forming with resistance at 0.6155 and the 23.6% Fib retracement level of the downward move from the 0.6254 swing high to the 0.6124 low.
The next resistance is the 50% Fib retracement level of the downward move from the 0.6254 swing high to the 0.6124 low at 0.6190. If there is a move above 0.6190, the pair could rise toward 0.6240.
Any more gains might open the doors for a move toward the 0.6280 resistance zone in the coming days. On the downside, immediate support on the NZD/USD chart is near the 0.6125 level.
The next major support is near the 0.6080 zone. If there is a downside break below 0.6080, the pair could extend its decline toward the 0.6050 level. The next key support is near 0.6000.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Kiwi H4 | Potential bullish bounceThe Kiwi (NZD/USD) is trading close to a pullback support and could potentially bounce off this level to climb higher.
Buy entry is at 0.6132 which is a pullback support that aligns with the 38.2% Fibonacci retracement level.
Stop loss is at 0.6056 which is a level that lies underneath a pullback support and the 50.0% Fibonacci retracement level.
Take profit is at 0.6236 which is an overlap resistance that algins close to the 78.6% Fibonacci retracement level.
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