After an impulsive 5 wave move higher, we have been for more than a year in a corrective pattern.
This falling wedge pattern is in my opionio coming to an end.
Several hints are showing an exhaustion around the 1.50 handle. Including the 78 fibo retracement level, and a big monthly trendline acting as support.
I think in the coming weeks, months there might be a...
Price printed a spinning top on yesterdays daily close suggesting the bulls have run out of steam. If price moves to my entry it could mean the bears are back in play for a short move below.
Note: Congratulation to those who follow our winning
trade last week.
Overall, we are bearish on this pair due to both H&S
pattern and the trend following.
We have 3 Trading Plans for this trade now:
1. Wait the price correction back to resistance zone,
followed by bearish signal to short. Short with right risk
amount.
2. Watch the immediate support line at...
Note: AUD/NZD follows what we predicted last week
and previously.
Overall, we are bearish on this pair.
Here are 2 Trading Plans for this trade:
1. Wait for pullback to the upper line of this
downward channel, followed by bearish signal
to short with right risk amount.
2. Zoom into H4 or H1 chart and look for pullback
to 20 EMA and short with right risk amount.
Note: AUD/NZD follows what we predicted early
and congratulation to those who follow our previous
earning trade.
Overall, AUD/NZD still in bearish mood.
We need to wait the price move up to the upper
of the downward channel.
After that, wait for 1 strong bearish signal or 2-3
bearish signal to short!
Note: NZD/USD follows our analysis last week.
Congratulations to those who short this trade as per our analysis.
Overall, we remain bearish on this pair because of the potential "Extended Head & Shoulder" setup appeared.
Now, we have 2 trading plans for this pair:
1. Wait some little pullback to the support line at 0.698x level and bearish signal to short with...
This ascending channel on the weekly chart of NZD/USD presents an opportunity for a short breakout trade. The pattern's borders are shown with the yellow lines. The potential entry level - with the cyan line. The potential take-profit level - with the green line. Stop-loss is to be set to the high of the breakout bar (not shown on the chart).
Note:
-Recently, NZD/USD breaks the upward Trendline
-Besides, there is a formation of Lower High-
Lower Low-Lower High formation.
There are 2 ways to trade this pair:
1. Currently the price goes up and touched the
upward Trendline and followed by a bearish bar.
It might be a signal to short with high R/R of 1:2.
Can enter this trade but only small risk...
Note:
Potential Trading in the Range
In H4 chart, it is quite bearish recently and
GBP/NZD move up and touched the 20-EMA.
We see a possibility that the price might drop
further to the support zone.
If this scenario happen, we will wait another
bullish signal around support zone to call for a BUY :)
Caution: BOE's official bank rate on Thursday which might...
Similar to CADJPY, NZDJPY reached resistance level. This level coincides with Fibonacci level which determines the likely end points of retracements. As you can see, since mid-2015 NJ has been in a downward trend and recent increase represents the retracement which is likely to be over (reached resistance and 50% Fib level).
As argued in previous post for CADJPY,...
NZDUSD has been ranging since June so here is a time when the SuperTrend has flipped as we have bounced off the bottom range channel and crossed the 50 SMA.
This isn't catching the bottom style of trading but I sure am looking to get a big chunk of that middle!
Year and a half old support line
'Curve' structure from June 2013 never been violated yet
Daily close above 0.7 Fib Level (start from June 2013)
RSI and MACD bullish
New Zealand economy healthy as main macro indicators show!
Canadian dollar might struggle given uncertainty around OIL prices (OIL broke important support last week)
EURNZD LONG:
Previous structure broken only once for the past 6+ years, we're currently at a very important level;
See blue and green lines
+ Fibonacci 0.2 Level
In 30 minutes we will have the statement of the Interest rate for the New Zealand.
NZD / CAD strong shows indecisiveness on the dynamic resistance, going to create a range market in the area 0.97800 / 0.98500.
The return below the dynamic resistance could be a false signal.
Suggested to wait until the release of this important data before working in the market.
Talking Points:
AUDNZD Technical Strategy: Re-initiating Long position
Elliottwave Count: Reversal is in process after wave 2 completion
Analysis
AUDNZD is expecting to complete it's wave 2 correction @ 1.0350 after having an high over 1.0726. We were seen corrective move towards 1.0350 in expanded flat correction. We also had a nice bounce from channel...
