Hey Traders, in the coming week we will be monitoring NZDUSD for a selling opportunity around 0.7085 area respecting the strong down trend on Daily frame ( Trend is your friend) in combination with the resistance zone, once i will notice any bearish confirmation the trade will be executed.
Remember to use proper risk management and don't risk more than 1% of your...
Currently the price is sitting on the strong support level, I think the price most likely retrace to a strong trend line around 0.893 if the price is still in downtrend direction, if not then it can break the trendline and go through the resistance of 0.900.
AUDNZD is trending to the upside currently after RBNZ's rate decision to hold rates. Technically the pair has broken the bull flag to the upside and the RSI is bullish. We anticipate continued upside to 1.0530.
The main view of this trade idea is on the 30-Min Chart. The FX Cross NZDJPY is in a symmetrical triangle setup. The support trend line is connected by the 76.50 and 77 high lows while the resistance trend line is connected by the 78.11 and 77.60 lower highs. Expectations are for a breakout higher, with a target of 78.50. A failure of this setup...
EURNZD is trending to the upside prior to the NZD Westpac Consumer Survey data, which usually is based on a survey during which respondents rate their opinion on different issues concerning current and future economic conditions. Technically the pair is grinding to the upside, but is lagging behind gains made on EURAUD. We anticipate the pair to make gains and...
NZDUSD is trending to the downside currently, having broken below the key support zone following disappointing NZD Business PMI data, which presents business conditions in New Zealand. The Business PMI is an important indicator of the overall economic condition. A result that values above 50 signals appreciates (or is bullish) for the NZD, whereas a result that...
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NZDUSD has bounced from trendline support prior to the USD 3 Month Bill Auction, which reveals the yields on the US Government backed security. Technically the pair has bounced from the trendline and the RSI has turned positive, and we are seeing USD weakness so far this week.
This might look like a simple pullback on the D1 chart
on the H4 chart, if you follow my method, then it is a setup 1. Possibly going into a Wave 5 up.
The negative is that it might be the start of an ABC pullback and I might get B trapped.
But I will take this regardless and keep that in mind.
Stop Loss below the Daily Small doji
NZDUSD is trending to the downside today prior to the USD Initial Jobless Claims data, which measures the number of people applying for unemployment benefits for the first time. Technically the pair has broken to the downside of the support trendline, and has bow formed a resistance trendline.
NZDUSD is trading to the downside today as the RBNZ were expected to raise interest rates but held them instead. Technically the pair has created a large wick shadow to the downside and we anticipate the pair to continue to the downside and fill this wick.
Next week marks a rate decision event for RBNZ. Currently at 0.25%, there is news in the air for an increase in the rate by 25bp, and possibly another hike before the end of this year.
Currently NZDUSD has been flowing more or less in the indicated upward channel. It has fallen due to a strong USD this week and a reversal is in the making.
Two highlight points...