Hello, everybody, and welcome to my TradingView’s profile, my name is Gianni and today I’m going to analyse the NZD/USD, translating the market information by using a full technical analysis on different time frames, giving you a personal opinion about the next most likely market movement and helping you to spot and manage market opportunities. My ideas are for those who are interested in improving their financial education and for those who are looking for new trading opportunities, according with their own strategies.
Weekly timeframe:
Daily timeframe:
4 hours timeframe:
The NZDUSD pair, overall, has still a bullish perspective, considering the last recent strong impulsive move. At the moment it’s consolidating (see the weekly chart), moving inside an interesting fair value area, where sellers are still slightly in control of the market. The price is correctly getting rejections on the top and bottom of its area, constantly gravitating around the confirmed price control.
Currently, the price reached a strong demand zone and the lower area of the weekly pattern, forming in lower timeframe (4hrs chart), a new fair value area. Some interesting clue seems is happening right now, the price breakout to the upside the fair value area with nice strength and buyers seem are slowing stepping into the market. The possibility of a long term market continuation to the upside is quite high!
When, where and why would I step into the market? Considering that the market is still bullish (in a long perspective) and the buyers are still around the demand zone, pushing the price up on every attempt of breakout to the downside, I will definitely plan a long position on this market after a confirmation of trend reversal.
I would like to see less market activity on the lower fair value first and some price consolidation around the level 0.68500 to have a good level to place my stop loss. In the scenario of trend reversal, then, my entry point would be above the 0.68500 level, with a SL below the possible swing and the TP around the next resistance level.
A breakout of the demand zone would invalidate this trade idea and no action will be taken on this market.
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Trade safe and responsibly, Gianni
DISCLAIMER Please note the views are not investment advice and should be used only for educational purpose