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Short

NZDUSD - Bearish Pressure Returns

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
351 15 6
a year ago
Greetings Fellow Traders,

I wanted to bring attention to interesting price action that finished off the trading day for Wednesday this week. NZDUSD's Weekly Bearish Strength is a long ways off from testing, but there is good reason to believe that the lower support for bearish continuation will soon break.

Long story short, keep an eye out for the .64000 level to be broken on a Daily Confirmation. Should this happen we will be making a pass at a medium term bearish continuation. Ultimate targets could rest in the .50-.60 region.

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a year ago
Comment: NZDUSD has a lower time frame entry set up, if you're looking for shorter term trades. Also note where the market reversed during today's trading, old support = new resistance
snapshot
IvanLabrie PRO
a year ago
You know me...In from a while back.
Will add soon.
Looks good.
+1 Reply
Synapse IvanLabrie
a year ago
Yep! Looks like a good trade incoming
+1 Reply
_VincentP_
a year ago
I was in this since two weeks at 0.6505 but my stop at B/E got hit yesterday morning. Looking for a new entry.
+1 Reply
Synapse _VincentP_
a year ago
Darn! Hopefully you get that entry in the coming hours/days - One thing that cannot be rushed is the market
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_VincentP_ Synapse
a year ago
Would you consider an entry at a higher level such as 0.65 or higher? Or are you only looking at a short if price moves below 0.64?
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Synapse _VincentP_
a year ago
Absolutely, that entry was above .66 for me though, and due to yesterday's price action a move back up that high seems unlikely. I don't think we're going to see anything above .65 moving forward, but we'll see
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GoodLuckbabe
a year ago
nice setup synapse thanks for sharing
+1 Reply
Synapse GoodLuckbabe
a year ago
Thanks imranafzalmughal4! This trade was not just limited to GBPJPY, hope you all were able to get some pips out of it. :)
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rafatox
a year ago
thanks for sharing :)
+1 Reply
Synapse rafatox
a year ago
Hi Rafatox, You're welcome! :)
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rafatox Synapse
a year ago
cheers :)
+1 Reply
i am short with nzdusd since 10 hours
any new thing with this setup
+1 Reply
Synapse MahmoudFathEl-Hoda
a year ago
Hello MahmoudFathEl-Hoda! I posted an update for NZDUSD lower time frame charts, but please make sure you understand the analysis before going short. I wait for confirmation that the market has broken a level. The key level on the daily chart I am looking at right now is around .64000 on the daily candle, we didn't make it today...tomorrow/end of week will be another attempt at it.
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MahmoudFathEl-Hoda Synapse
a year ago
hello man i am short with nzdusd before i see your analysis .. but i ask you about your setup to going short ihave target on 0.6350 first and second target is 0.6250
+1 Reply
Synapse MahmoudFathEl-Hoda
a year ago
If we can get confirmation below .64000 both of those targets should follow soon after. Nothing has changed with the short bias. Good luck!
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