With the Reserve Bank of New Zealand (RBNZ) explicitly expressing their intention to weaken the currency and willing to contemplate negative interest rates and purchasing foreign assets if required, the NZD is likely to continue on a weakening path. The Reserve Bank of Australia (RBA), on the other hand, expressed their wish to see AUD lower but would not say...
There are 2 scenarios here: 1️⃣ Breaking the previous top first (it can be sharp), then go for a Daily correction 2️⃣ Sliding lower slowly in a corrective fashion. And it seems the first one is more possible (based on the current small flag shape structure just above the Weekly line which looks like a preparation for an impulse) On the bigger picture, as shown...
This is NCHF on the 4 hour. We could be seeing a reversal on this pair. Using parallel lines (which this pair tends to respond well to) we can make a case for NCHF being in a key value area. Before jumping in, we will need to wait for the market to give us clear confirmation. I would be looking to get involved at a clear rejection from the 4 hour, or if we see a...
The Kiwi has been pushing lower pretty easily since our initial kumo breakout. We are in the middle of a bearish engulfing candle and approaching previous price structure support. If we can break that support then it will confirm our short bias. I've drawn out a couple targets I'll be aiming for. I don't always make this clear, but I wanted to make sure...
(Bullish) Scenario 1: Stabilization above 0.6585 (Range) Scenario 2: Neutral between 0.6585 and 0.6525 (Bearish) Scenario 3: stabilization below the price of 0.6525
NZDUSD Longed: 0.65357 Target: 0.65986 S/L: 0.65203 Risking 3% Probably not hitting the full target today and I will close before the weekend but I'll see how it goes.
It has a strong support level at 0.6575 but as seen from RSI, Kiwi is not generating powerful action to upwards. NZDUSD resistance level is 0.6630 If you enjoy my graphs, like and comment. Your feedback will always be appreciated. Thanks!
Worked out well yesterday, what will today bring us? Just a quick take today - as it's Friday!! We are still following the same technicals as yesterday, we had the bullish momentum towards upside. Out of channel the bears are in further control, the next trend-line could be a possible target. Still within channel, bullish momentum continues, and allows us to...
A great example - we no longer use technical analysis at all - but I spotted this from elsewhere. Its a great example - that demonstrates our strategy will catch any big move anyway so save yourself the time and subjectivity. We have no need to draw and analyse our charts - our strategy is already coded and we now execute and follow with confidence and belief...
Looking at the weekly (and monthly) we notice a forming a possible Heads & Shoulders. Assuming the H&S forms with confirmation, we can prepare a long order after its completion of the pattern. As of now, I will be short on this one based on price action. Do note on the fundamental side of things that the Dollar (U.S.) is weakening. Recent low GDP statements,...
NZDUSD possible fall continues to the below supports, like and share the idea
This pair has the potential to form a form a flag, as right now we are in a corrective state. If the pattern forms I would be looking to short at the rejection of the top of the flag.
NZD/USD is trending higher prior to NFP. Non Farm Payroll measures the number of jobs created in the previous month excluding agricultural jobs. We anticipate further NZD strength against the USD into the 0.6568 level.