NZD was hit hard after ANZ Activity outlook fell to -1.8 (lowest since 2009) and business confidence fell to -53.5 (lowest point since 2008).
We like selling NZDUSD in the 6270/80 area looking for a break of recent lows, which would open up further downside towards 6200.
This pair went through a rare two-day whipsaw-ish price expansion of 90+ pips each day. That is almost twice the 20-day ADR for this pair. Due to this I am anticipating a rather subdued price action today with 35-55 pips range on top of today is Friday and there are no risk events for New Zealand and Singapore.
I do see scalping opportunities (in 15 min or 5 min...
As pictured above on weekly chart:
***if considering 12345 as a pattern, see that :
1) point (3) has correct 0.88 of (12) wave.
2) point (4) has correct 0.5 of (23) wave.
so if search in harmonic patterns we found that it can be deep crab so:
the point (5) could be at 1.618 Ext(12) that if draw Ext(34) and App(234) see that they are all convergence to each...
As for now such strong bearish sentiment price broken all s1.2.3 weekly of Pvt point in my 2hrs chart and floating below Pvt point of weekly + monthly (blue line respectively) is a total indication of bearish sentiment. When price reaches and holds around 66.702 (may have chances as knowing this strong bearish sentiment market) which was an older strong support...
This pair is into a great downtrend, we recently got an almost 2 weeks retracement ended by a high test candle right at the 50EMA level sending the price back in the down direction.
I believe it will continu to drop until the end of the month down to 0,67
Since we are a little bit late to enter on the daily chart i'll search on the intraday charts in the following...
The Kiwi is making an attempt to break out of the hesitance in the recent sessions and resume the upward trend in the red channel. If the current momentum is preserved the pair will be on course to reach 0.6450.
It's Monday, it's still in Asian Session. Just wait. I am not one to predict/choose a direction out of thin air. Having said that though, I would love it if price close above those delicious liquidity pool haven 1.0700-1.0720. If the price reaches there, I would set my intraday bias into Bearish and will short this pair once a bearish technical signal been...
Have a look at the above link for the complete analysis behind this trade execution
TRADE ENTRY: GO SHORT 67.000 LEVEL OR ABOVE
TRADE TYPE: SWING TRADE (SHORT)
STOP LOSS: 71.1000
TAKE PROFIT: 63.000
SHALL THERE BE ANY UPDATES I SHALL PROVIDE THEM IN THIS THREAD. Cheers
Hello dear Forex friends, hope you're doing well guys! ;)
The Kiwi is at a critical stage similar to the Aussie: We have only a few important levels left, before the 2008 financial crisis lows are lurking in the background. The Kiwi falling down to 60 Cents psychological would at the same time mean that we get oversold on the Weekly, which would be a great...