USDNZD trade ideas
NZDUSDDouble Bottom pattern formed on NZDUSD weekly chart, might show some retracement to fulfil the principle of Double Bottom before going further.
NZDUSD - Bullish Trend S2The trend is looking good with no divergence. The indices are opposite and we will buy it instantly. The trade levels are set!
NZD/USD: Bearish Reversal Signal with Key ConfluencesThe NZD/USD pair is currently exhibiting signs of a potential bearish reversal, highlighted by the formation of a Bearish Butterfly Harmonic Pattern . This pattern, when combined with the key technical confluences identified, supports a strong bearish outlook for the pair in the short to medium term.
Bearish Butterfly Harmonic Pattern:
The Bearish Butterfly Harmonic Pattern has formed near a critical resistance zone, suggesting a potential price reversal. The confluence of this pattern with the 78.6% Fibonacci retracement level on the weekly chart further reinforces the bearish sentiment. The harmonic pattern's completion at this juncture is a significant indication that the upside momentum may be waning.
Key Resistance and Trendline Confluence:
Price has recently tested and rejected a key resistance level, which aligns with both the descending trendline and the 78.6% Fibonacci level on the weekly chart. This rejection adds credibility to the bearish bias, as it suggests that sellers are stepping in to defend this area.
RSI Divergence on 4-hour time frame:
An additional layer of confluence is provided by the RSI divergence observed on the 4-hour timeframe. The RSI has shown a bearish divergence, indicating weakening bullish momentum. This divergence often precedes a trend reversal, further supporting our bearish outlook for NZD/USD.
Trade Plan:
Given the confluence of these technical factors, the following trade setup is recommended:
Entry: 0.61970
Stop Loss: 0.62400
Take Profit Targets
TP-1: 0.61540
TP-2: 0.61110
TP-3: 0.60680
Risk Management:
This trade setup offers a favorable risk-to-reward ratio, with tight risk management in place. The stop loss is placed just above the key resistance level to protect against potential false breakouts.
Conclusion:
The combination of the Bearish Butterfly Harmonic Pattern, key resistance rejection, trendline confluence, and RSI divergence points to a strong bearish case for NZD/USD. Traders should consider entering the trade at the specified levels, with a clear focus on the risk management strategy outlined above.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Please conduct your own research and consult with a licensed financial advisor before making any trading decisions.
NZDUSD → Attempt to change the trend amid falling dollarFX:NZDUSD is strengthening from the opening session amid the dollar's return to southward movement. Traders are intensifying USD sell-offs amid expectations of interest rate cuts...
Despite the New Zealand Central Bank's interest rate cut, the USD sell-off is more active on the currency pair. The dollar is forming a retest of support, which increases the chances of further decline in the price amid strong sell-offs.
The currency pair is testing the resistance at 0.6083, but at the moment there is a high probability of correction to the imbalance zone. The reason is that we approached the zone too quickly, we need to accumulate the pre-breakout potential. But, if the bulls manage to consolidate above the resistance, then the market will move to the realization phase after the trend line breakout.
Resistance levels: 0.60828, 0.61475
Support levels: 0.6036
Fundamentally, the environment points to the continuation of growth. Technically, the bulls will have to pass through the trigger at 0.60828 to start the realization phase.
Rate, share your opinion and questions, let's discuss what's going on with ★ FX:NZDUSD ;)
Regards R. Linda!
NZDUSD**NZDUSD Price Action Analysis – Monday, August 26**
From a price action perspective, the overall trend of the NZDUSD pair is bullish, and the short-term structure is expected to remain inclined towards an upward movement. As a result, the price may bounce off the pivot level and head towards the first resistance.
- **Pivot Level: 0.6202**
- This level aligns with other price levels and could lead to increased buying pressure.
- **First Support: 0.6127**
- This support represents a key technical reversal level and may limit further downward movements.
- **First Resistance: 0.6339**
- This resistance marks a recent turning point and could see heightened selling pressure around it.
NZD_USD RISKY LONG|
✅NZD_USD is trading in
An uptrend and the pair
Broke the key horizontal
Level of 0.6212 so we
Are bullish biased and
We will be expecting
Further growth
LONG🚀
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NZDUSD - Ready for Explosive Break outNZDUSD had been trading with in corrective triangular range for some days. Now we had a volume powered break out from this range. Price is expected to retrace from resistance of long term trend line and then explode out of long term trendline too.
NZDUSD Bearish for short time and Bullish for long timeThe NZDUSD in weekly chart shows that it has given breakout of the Symmetrical triangle pattern and Is currently at another resistance level(red line) . Before it moves to higher price it need correction as it has run a lot in last week after the small correction, the price may break this Resistance. Have profitable trade !
NZD/USD Daily AnalysisSince printing a double bottom at 0.5877 we have seen a strong NZD against a weaker USD. Price closed above d0.6210 daily resistance on Friday with the next resistance level at 0.6360 in sight if the bias continues.
NZDUSD Is Approaching The Weekly Resistance and USD SeasonalityHey Traders, in tomorrow's trading session we are monitoring NZDUSD for a selling opportunity around 0.62500 zone, NZDUSD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.62500 support and resistance area.
Trade safe, Joe.
nzdusd analysis elliot. Don't forget about stop-loss.
Write in the comments all your questions and instruments analysis of which you want to see.
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P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade
NZDUSD: Important Breakout 🇳🇿🇺🇸
NZDUSD successfully broke and closed above a major daily resistance cluster.
Then broken structure turns into support now.
I think that the market will continue growth.
Next resistance - 0.6266
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Waiting for a retest near new supportGold is still bullish at the moment until after the US election, this analysis is based on correlation of Gold with Kiwi. My recent analysis of last month of this pair of a possible short played out in the opposite direction. But coming into a new month and into the end of the Quarter I see price being still bullish and trending towards last years high and major resistance (0.65204).In my opinion a possible retest near 0.6200 near the 13 and 50 ema with clear bullish signals could signal a clear uptrend continuation which could possible trend until reaching a new resistance which is near last years high.
NZDUSD moving higher now**Monthly Chart**
NZDUSD last month's candle closed as a bearish high test after sweeping liquidity above 0.62000 level (Round number). This month (July 2024 - Still active) tested the midway of the previous month's candle and pushed to May 2024 (bullish candle) Demand Zone. It is also April 2024 low.
**Weekly Chart**
Last week NZDUSD closed lower after an aggressive sell-off for the past two weeks. The candle closed as a bearish candle. This week I will look for a buy setup around the demand zone if there is a low-risk entry on lower time frames.
**Daily chart**
This week, I will wait for the price to take liquidity below the 0.58858 level before entering long. Wait for the price to tell you when on lower time frames (ie. 4H and 1H).
Long trade
Trade Details:
Entry Price: 0.60946
Profit Level (Take Profit): 0.62202 (2.06%)
Stop Level (Stop Loss): 0.60679 (0.44%)
Risk-Reward Ratio (RR): 4.7
NZDUSD is BearishPrice was in a strong uptrend, however the bearish divergence on four hourly time frame hints that bears are trying to gain control. First lower low is printed successfully, and if that breaks then we can expect further slide in the price action. Targets are mentioned on the chart.
NZD/USD SELLERS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
We are going short on the NZD/USD with the target of 0.603 level, because the pair is overbought and will soon hit the resistance line above. We deduced the overbought condition from the price being near to the upper BB band. However, we should use low risk here because the 1W TF is green and gives us a counter-signal.
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NZD is ready to be sold against the USDI don't love engulfing candles but I like the pin bar the day before yesterday. I think the rally has stalled here and the kiwi should pull back at least to .61. I suspect it'll go lower but I'll be managing my trade pretty closely if it goes my way and gets to 61 cents.
My stops are alway 1.5x average daily range on reversal trades like these.
Obviously I only have one idea at the moment and it's to fade dollar weakness around here so need to be mindful of total risk allocation across any of these trades (correlation of course). It's one trade against a few different pairs and they might just be wrong altogether.
NZDUSD Sell SetupThe NZDUSD pair has hunted major liquidity in the higher time frame, which is causing a reaction, or at least some signs of it, in the lower time frame. We're currently watching the 15minute chart, where we expect to see some bearish movements. The bearish change of character in the lower time frame can be considered the first confirmation for setting up a sell position for this pair.
Here are the levels I would set:
Entry level: 0.61548
Stop loss: 0.61716
Take profit: 0.61330
Please note that this analysis is not intended as financial advice. Each individual should assume responsibility for their own trades. The purpose of this post is to provide ideas and inspiration, encouraging readers to view the chart from different perspectives. Always conduct your own research and analysis before making any trading decisions.
Bearish drop?The Kiwi (NZD/USD has reacted off the pivot and could fall to the 1st support which has been identified as a pullback support.
Pivot: 0.6152
1st Support: 0.6090
1st Resistance: 0.6214
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nzdusd on a Bullish retracement during this week we have seen enough buyers coming in and pushing the SEED_DONKEYDAN_MARKET_CAP:PYTH : NZDUSD on its bullish trend I have been trading this current since it produced the bullish pin bar signifying that the sellers were out of the market and more buyers were coming in so once it has (BOS) of my (FVP )to the upside I will be with the bulls this week till I hit my nearest unmitigated O.B @0.61112 This area also is the extreme Premium so we might see some turbulence to the downside but that,s for next week as for now am all bullish.tp @0.61112
