USDNZD trade ideas
Trade 0002 NZDUSD Potential longHey Traders,
I am writing to provide an update on our second trade. The price has reached a key level that I have identified as a potential entry point. However, I have not yet entered a position. I am closely monitoring the price action on lower timeframes for any signs of rejection.
Based on my analysis, I anticipate the commencement of a strong bullish trend in this area. I will continue to observe the market conditions and will provide updates as the situation evolves.
Please remember the importance of effective risk management in your trading activities.
Best regards,
Renaldo Philander
Lingrid | NZDUSD complex PULLBACK. ShortThe 4H chart shows a bearish trend, with the price making consecutive lower lows and lower closes, indicating dominance by bearish forces. The recent price action has formed a complex pullback, and now the price is testing the resistance zone at 0.61000, which is a psychological level. If the price rejects this level, I expect it to continue its downward momentum, potentially falling to test support levels. Given the bearish trend, I believe it's likely that the price will fall from resistance and head lower. My target is support 0.60700
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
1-Hour Chart Analysis; NZD/USDvisit fourtrades web site for more
On the 1-hour chart, NZD/USD is showing short-term bullish momentum as it approaches the upper boundary of the descending channel. However, this movement is still within the larger bearish structure. Traders should watch for price action signals around the resistance levels to determine potential reversal points.
Trend: Bearish within larger timeframe structure
Key Levels:
Resistance: 0.6120
Support: 0.6060 (intermediate support level)
Trade Idea: Look for selling opportunities near resistance levels within the larger bearish structure
Entry Point: 0.6090
Stop Loss: 0.6120
Take Profit: 0.6020
Status: Active
Trade Type: Sell
Rationale: The price has recently tested the upper boundary of the descending channel and is showing signs of rejection. The overall bearish structure remains intact, suggesting further downside potential. The entry point is just below the resistance level, with a tight stop loss above the recent highs to manage risk. The take profit target is set near the lower boundary of the channel, aligning with the larger bearish trend.
NZD/USD +50 Pips 0 Drawdown , Did You Enter ?This Is An Educational + Analytic Content That Will Teach Why And How To Enter A Trade
Make Sure You Watch The Price Action Closely In Each Analysis As This Is A Very Important Part Of Our Method
Disclaimer : This Analysis Can Change At Anytime Without Notice And It Is Only For The Purpose Of Assisting Traders To Make Independent Investments Decisions.
NZD/USD Rises despite Soft NZ InflationThe Reserve Bank of New Zealand kept rates at 5.5% last week, but adopted a softer tone compared to the hawkish messaging of the previous meeting, raising chances of a rate cut this year. Today’s soft inflation data help towards such action, since CPI eased to 3.3% in Q2 and the lowest in three years.
Despite these prospects, NZD/USD contains its fall and rebounds today, as there is still a high bar for an RBNZ pivot. At the same time, the Fed may have adopted a cautious stance, but Chair Powell appears to be laying the groundwork for a September cut, as the disinflation trend has resumed, with markets pricing in three moves this year.
The monetary policy dynamics are a bit murky, but likely support further upside. Having defended crucial technical levels, NZD/USD can regain the EMA200 (black line) and push for new monthly highs (0.6148), but we are cautious around greater advance 0.6223.
But market bets for three cuts by the Fed are very aggressive and would require the Fed to move in three consecutive meetings. This optimism could be disappointed, just as prospects of an RBNZ pivot are strengthening. Below the EMA200, immediate bias is on the downside and risk of a breach of the 50% Fibonacci and the daily Ichimoku Cloud persists. This would make NZD/USD vulnerable t0 0.5952, but sustained weakness is not easy based on the monetary policy dynamics.
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Past Performance is not an indicator of future results.
Market Analysis: NZD/USD Poised For Fresh GainsMarket Analysis: NZD/USD Poised For Fresh Gains
NZD/USD is also rising and could target the 0.6090 resistance.
Important Takeaways for NZD/USD Analysis Today
- NZD/USD is consolidating above the 0.6050 support.
- There was a break above a key bearish trend line with resistance at 0.6060 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 AUD/USD. The New Zealand Dollar formed a base above the 0.6035 level and started a decent increase against the US Dollar.
The pair climbed above the 0.6050 resistance. There was a break above a key bearish trend line with resistance at 0.6060. The pair spiked above the 50-hour simple moving average and tested the 50% Fib retracement level of the downward move from the 0.6125 swing high to the 0.6033 low.
The NZD/USD chart suggests that the RSI is back above 50 and signaling a positive bias. On the upside, the pair is facing resistance near the 0.6080 zone. The next major resistance is near the 0.6090 level and 61.8% Fib retracement level of the downward move from the 0.6125 swing high to the 0.6033 low.
A clear move above the 0.6090 level might even push the pair toward the 0.6130 level. Any more gains might clear the path for a move toward the 0.6180 resistance zone in the coming days.
On the downside, there is a support forming near the 0.6050 zone. If there is a downside break below the 0.6050 support, the pair might slide toward 0.6035. Any more losses could lead NZD/USD in a bearish zone to 0.6000.
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NZD/USD SENDS CLEAR BULLISH SIGNALS|LONG
Hello, Friends!
Previous week’s red candle means that for us the NZD/USD pair is in the downtrend. And the current movement leg was also down but the support line will be hit soon and lower BB band proximity will signal an oversold condition so we will go for a counter-trend long trade with the target being at 0.609.
✅LIKE AND COMMENT MY IDEAS✅
Long trade
Oveview 4Hr TF
Tue 16th Jul 24
2.30 pm
Buyside
Entry 0.60484
Profit level 0.60578 (0.16%)
Stop level 0.60438 (0.08%)
RR 2.04
NZDUSD: Bullish Indices And Potential UpsidesHey Traders, in today's trading session we are monitoring NZDUSD for a buying opportunity around 0.60300 zone, NZDUSD is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 0.60300 support and resistance area.
We Would also like to consider the current bullish bias on Stocks, due to the positive correlation NZDUSD can benefit from that!
Trade safe, Joe.
#NZDUSD Bearish Pennant Pattern🔸Since October 2022 the NZDUSD pair has been trading inside a Bearish Pennant Pattern, the resistance line of this pattern has been hit 3 times and the support line 2 times and the price is currently aiming to make the 3rd hit to the support line.
🔹Jerome Powell's dovish stance in recent speeches could support the bearish scenario, the pair is currently trading at 0.6948, above the 50 MA (0.6050), if the 50 MA and the support zone at relatively the same price level cracked, the bears can break through the support line of the pattern sending the price down to 0.5879 and with further weakness of the USD, it's possible for the bearish scenario to fully playout pushing the price down to 0.5777 and the strong support at 0.5586 which if cracked, we can see the price go as low as 0.5000.
🔸On the other hand Jerome Powell has also hinted at improving economic conditions, suggesting a potential Fed rate cut despite inflation not yet at 2%. Powell noted easing labor market conditions, moderated growth, and decreasing inflation. Despite lower US inflation figures, the US dollar remained strong which can invalidate the pattern.
🔹If the price breakout above the resistant line of the pattern, the bulls can target 0.6222, 0.6363 and the 200 MA (0.6480), further movement above the 200 MA can completely change the trend aiming up to 0.7317.
Zanzibar Trading
NZDUSD bearishNZDUSD bearish
Dow's LL LH
there's bullish divergence but that's enough for a pull back only
thus SELL STOP below last LL
To 0.59849Nzdusd has hit the resistance zone of 0.61530 on the 5 min tf and has been in a downtrend ever since. Moving up to the hr tf. The next zone that is showing support is at 0.59840 and is expected to rise above the last resistance zone of 0.61530 once this support zone has been touched.
NZDUSD to continue in the downward move?NZDUSD - 24h expiry
The trend of lower highs is located at 0.6150.
Further downside is expected.
Risk/Reward would be poor to call a sell from current levels.
A move through 0.6040 will confirm the bearish momentum.
The measured move target is 0.6025.
We look to Sell at 0.6060 (stop at 0.6080)
Our profit targets will be 0.6010 and 0.6000
Resistance: 0.6050 / 0.6060 / 0.6075
Support: 0.6035 / 0.6030 / 0.6025
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NZ dollar can’t find its footingThe New Zealand dollar has posted sharp losses for a second successive day. NZD/USD is trading at 0.6042 in the North American session, down 0.54% on the day at the time of writing. The New Zealand dollar has declined 1.3% this week and is trading at its lowest level since May 15.
New Zealand releases the second quarter inflation report early Wednesday. The market estimate stands at 3.5% y/y, compared to 4% in the first quarter. Quarterly, inflation is expected to remain steady at 0.6%.
The inflation report will be a key factor in the Reserve Bank of New Zealand’s rate decision on August 14. The central bank stunned the markets with a dovish stance at last week’s rate meeting. The RBNZ held the cash rate at 5.5% as expected but left the door open to rate cuts if inflation falls as expected.
The dovish pivot means that the August meeting will be live. At the previous meeting in May, the RBNZ discussed a rate hike but made a dramatic shift at the July meeting, noting that it was concerned the economy could be cooling faster than it had expected.
US retail sales dipped to 2.3% y/y in June, down from 2.6% in May but higher than the forecast of 2.1%. Monthly, retail sales were unchanged in June, down from a revised 0.3% in May and matching the market estimate. This was the second time in three months that retail sales were unchanged, pointing to weakness in consumer spending.
NZD/USD pushed below support at 0.6071 earlier. Below, there is support at 0.6024
There is resistance at 0.6160 and 0.6202
NZD\USD ShortThe downtrend that started from the level of 0.62178 continues.
The level 0.60475 could not be broken for the first time, after which the price bounced to the level 0.61476 on the four-hour timeframe. After unsuccessful attempts to overcome it, the price resumed its downward movement and stayed at 0.60985, after which it resumed its hike to 0.60475. This time the level was broken through and it seems that it will be possible to consolidate under it, which will mean the continuation of the downtrend. The first target is 0.59825 on the four-hour chart, the second target is 0.58715 on the daily chart.
Special attention should be paid to the CPI news released at 22:45 GMT.
Since there can be a strong volatility at the news release, I set a stoploss of 30 pips..... The entry was on the 15 minutes chart
NzdUsd. Bearish bias on NzdUsd. Bearish monthly ob and daily bearish on have been hit. Looking for anticipating continuation today on tuesday.
NZD/USD Short PositionPrice gave us a BOS (break of structure) indicating bearish conditions.
Price is moving in what appears to be a bearish flag pattern.
I’m currently in with:
Entry price @ 0.60442
12 pip stop loss
36 pip profit level
NZD/USD LONG POSITIONPrice is currently breaking a level of structure.
Placing a buy stop in this area after 8:30 AM EST news releases.
12 pip stop
36 pip profit level
NZDUSD : BEARISH MOVEMENT
The price broke the Descending channel, NZDUSD in buying phase for the long trend.
Bearish movement is expected on NZDUSD to fill the Liquidity gap on 4H timeframe then we can look for buying opportunities.
