Oscillators and exponential moving averages suggest a buy. If you're a trend trading, this one is an obvious long. Short when price action meets downward sloping resistance.
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Powell might have kickstarted a rally -which was already brewing- in the Kiwi/Dollar pair.
I'd reccomend long exposure here, as long as we don't go below today's open, if aggressive, or if moving below the cyan box, if more conservative.
The target is the top of the cyan rectangle, to be reached before the right border is reached, time wise.
Best of luck,
GN measures out pattern and fibonacci wise to continue up to the 78% retrace. The pattern can become more complex so trade accordingly. But regardless of what it does, I will be expecting more upside to complete this higher time frame correction, 4 hr looks like it may just continue this week.
Very simple and straightforward forecast here.
The NZDUSD has bee ranging within a symmetrical triangle for the last 6 weeks.
Price has climbed for 3 consecutive days and in the H1 chart, the rising trendline is already seen broken below.
The price has then retraced two waves in the M15 chart after the rising trendline in the H1 chart was broken.
The above presents the analysis for this trade setup.
INSTANT SELL PRICE AT AROUND 067600 LEVEL
STOP LOSS: 0.70000
TAKE PROFIT: 0.64300
SHALL THERE BE ANY UPDATES I SHALL PROVIDE THEM IN THIS THREAD. CHEERS AND GOOD LUCK
1.65000 level represents the concrete support level drawn from the Monthly charts, which has been clearly rejected and the price now aims at breaking the channel that it is confined in and close above the daily 50 EMA!
A convincing close above daily 50 EMA needs to take place, thereby giving further confluence that the price is headed towards the 1.69000...
#NZDUSD labeled in a bullish sequence in Intermediate (C) (turquoise), with Minor 1 & 2 (green) marked as complete.
Minute II (green) should be complete or about to finalize, thus leaving room for Minute III (green) to start its bullish swings very soon.
Kiwi Dollar should rally from here.
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FX:NZDUSD The Kiwi formed a clear five-wave rally from 0.6425 lows, which in EW theory suggest more upside after a correction. As you can see, pullback was deep, but complex with overlapped wave structure and also nicely within channel range, so we assume that this was just a double zig-zag W-X-Y corrective decline. And yes, The Kiwi bounced idealy around 61,8%...
Price is currently confined in a descending channel or wedge on the weekly charts with multiple tests occurring on both sides of the channel making it more and more potent if a breakout occurs!
The blue lines on the main charts represent the support and resistance levels drawn from the monthly charts and as of few weeks ago the 75.000 level was respected and now...