We have a confirmed break below the lower bound of the D1 trend with yesterday's candle closing a solid 30 pips below my trend line. However, the pair appears to have found support at the previous low of the trend and may be in the very early stages of forming a double bottom. With the Asian session warming up over the next few hours, I will wait for confirming...
Kiwi index is approaching its support at 6.8787(61.8% Fibonacci extension , 50% Fibonacci retracement , horizontal swing low support) where it could potentially bounce to its resistance at 6.9528 (50% Fibonacci retracement , 61.8% Fibonacci extension , horizontal swing high resistance).
Stochastic (55, 5, 3) is approaching its support at 3% where a corresponding...
From the daily chart perspective bulls got the chance to try to move back at least towards 1,0550
RBNZ dovish, so upcoming RBA if neutral stance should be enough
US China trade war
AUD Annual Budget Release
Buying dips towards 1,0380/50 with stops below 0340. First target around 1,0550.
While a number of technicals point to a bit of an upside trend, this should be limited by short-term resistance followed by a correction back to the long two-year channel that has formed. Daily FX's Nick Cawley called this the trade of the year to short this pair. So far its not panning out. For more, check out www.anthonylaurence.wordpress.com
In this video update, we take a look at NZDUSD as price is respecting the supporting trendline zone. However,
we could see further downside to come to the kiwi as the RBNZ did state that the next rate announcement will likely
be lower. If the market rallies back to minor resistance levels we will be looking for further shorting opporunities here.
Kiwi index approached its support at 6.8796 (horizontal swing low support, 100% Fibonacci extension,50% Fibonacci retracement) where it could potentially bounce to its resistance at 6.9311(38.2% Fibonacci retracement, 61.8% Fibonacci extension, horizontal pullback resistance ).
Stochastic (34, 5, 3) is approaching its support where a corresponding bounce could...
NZDUSD POTENTIAL SHORT
IF YOU TAKE A LOOK AT THIS CHART YOU CAN SEE ON THE DAILY TIMEFRAME THAT THE KIWI HAD A VERY STRONG REJECTION OF STRUCTURE SHOWING STRONG SELLER MOMENTUM AND INTEREST. I ALWAYS LET THE MARKET SHOW ME CLEAR SIGNS OF WHAT IT WANTS TO DO. THIS CHART IS DISPLAYING THAT THERE IS A DECENT PROBABILITY OF GOING TO THE DOWN SIDE. NOW THERE IS AN...
With the RBNZ already killing off the NZD by being more dovish than expected in their rate announcement yesterday, the kiwi fell against the USD overnight erasing in the process nearly 2 weeks gains!. For what many thought that the triangle has already broken to the upside just by the end of last week, it now seems it was a false breakout and rather unsurprisingly...
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.
Find more of my analysis with more words at www.anthonylaurence.wordpress.com
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...