NZDUSD has finally tested the 0.6700 resistance level. Price could start to find some sellers here as traders in from the 0.6500 level will likely be taking profits at this area. If the price does reject here we expect to see a shallow retracement before seeing further upside. We will be looking for a daily higher low in order to look for long opportunities.
- WATCH FOR BREAKOUT - WAIT FOR RETEST - EXECUTE WITH CONFIRMATION
- WAIT FOR BREAKOUT - WAIT FOR RETEST - EXECUTE WITH CONFIRMATION
As i stated on Monday, the majority of yen pairs have started recovering from the drops of last month. This pair I took a long on Monday in my premium group and looks set to hit my target and potentially target 76.5 in the long term. Trade safe and good luck!
In this video update, we take a look at NZDUSD as we expect the price to test the 0.6700 resistance. The CoT reports highlighted an increase in long contracts this week showing us the commercials are happy to buy at these levels. The 4hr timeframe has highlighted a minor demand zone around 0.6600 where the price could find buyers.
-WAIT FOR BREAKOUT -WAIT FOR RETEST -EXECUTE WITH CONFIRMATION
We will be watching the key 0.6560 level for another long opportunity on NZDUSD. The non-farm payroll figures could push prices into the demand zone. We still expect to see prices back up at the key 0.6700 resistance.
AUD is now fundamentally weaker currency after the recent RBA rate cut, dovish bias and the latest weak GDP print. The odds are now in favour of another rate cut in 2019. On the other hand, NZD is supported and currently not in the footsteps of their bigger western brother. The equities continue to be in favour of kiwi and the NZ economy is doing good. There...
NZDJPY has been high on our watchlist for a long opportunity for some time now. The 4hr chart is starting to form a higher high and a higher low and is set up for a swing trading opportunity.
In this video update, we are taking a look at NZDUSD as the price is breaking into new highs on the daily timeframe. Now that price is breaking higher we can look for potential add in trades on the lower timeframes. We already hold a position on the daily timeframe from the initial bullish engulfing candle. We are expecting price to test the April highs around 0.6700.
Bias: Short 1, Head & Shoulder Pattern 2, Daily Resistance Target based on length of head to shoulder and 61.8% of Fibonacci retracement
This is the same setup as last week as we continue to watch this develop. We have formed a new higher lower but I still want to see that break of price structure resistance before I open a long position. There may be some volatility this week as more Trade War rhetoric is hashed out by the Trump administration. It may give us the push this setup needs to get a...
- Price has been supported for a trendline since last December -Broke out to the down side - Now retesting - Pin bar in the H4 rejecting area of resistance (there's also a candle in the daily chart rejecting this area) - Waiting for confirmation (e.g. bearish engulfing candle) - Posible target to previous area of buyers What do you think?
The Loonie index is currently moving in a downtrend, as shown by the lower highs and lower lows on the daily timeframe. This is also in sync with the commodities markets (crude oil, well and even gold), which have been experiencing bear pressure lately. It is no secret that currencies like the Loonie (Canadian dollar), Aussie (Australian dollar) and the Kiwi (New...
This pair has been on a bearish for a long time and but it has finally made a move up and into the kumo. I am watching for what will probably be another drop and test of support then we can look for a kumo breakout. I am also waiting for the kumo twist to complete as a further sign that the kiwi may finally start to try and claw it's way back from these fresh...
SUP SUP how are we going today? Looking at the NZDJPY, to me it looks like its ready for its next drop.. Dont you? This in an idea and not intended to be a signal... If you do decide trade, keep your risk managed. Cheers!