The AUDNZD is currently trading at levels last seen on March 3rd. That was the session that broke the 1.0765 handle, a level that had capped four separate advances since May of last year.
Today’s intraday breakdown comes on the heels of more dovish than expected meeting minutes from the RBA. The relative strength of the New Zealand dollar over the past five...
We have finally reached the golden zone for a buy. I mentioned reaching this area in my previous post. As the week went by we saw the Dollar Index decline and this pair was doing the exact opposite of what it was supposed to do. The bulls allowed the bears to slowly bring price down to the .69300 area. That is the perfect place for a long term buy. for now i...
Apart from the yen, I don’t trade currency crosses very often. The price action can be choppy, and the spreads can sometimes be problematic if you aren’t careful.
However, if used sparingly, a cross like the EURNZD can offer opportunities where the potential reward is well worth the risk. Last week’s move may have given us one such opportunity.
Within the first...
Exactly one week ago the NZDUSD closed the day back above the 0.7040/5 area. The break came after the March 15th rally fell short of overcoming the region and the pair subsequently sold off on March 16th.
However, last Tuesday’s session appears to have closed back below 0.7040/5. This suggests that the Monday break above the area was a false move.
Furthermore,...
The NZDUSD could offer a range break opportunity this week. Despite gaining 125 pips following a more dovish than expected Fed, the pair fell short of overtaking the 0.7040 handle.
Buyers also just barely missed out on a weekly bullish engulfing pattern. But despite the near miss, the rally that started on Wednesday may not be done just yet.
In fact, given the...
DISCLAIMER: Hi everyone, I'm new to trading and this is just a log book for me on applying everything that I have learned and continue to learn as I go along. That being said, I do not advise you to base your trading on these "ideas".
This week I'm keeping my eyes on the Euro / New Zealand Dollar pair. Its been on a down trend for a while now and could be hitting...
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...
This double top pattern on H4 chart of the AUD/NZD pair offers an opportunity for a bearish breakout trade. The pattern's tops and neckline are marked with the yellow lines. My potential entry level - the cyan line. My potential take-profit level - the green line. Stop-loss is to be set to the high of the breakout bar (not shown).
In my humble opinion there is not much I dislike about this trade. There is a strong move in, a strong move out which signifies a serious imbalance in price. As with my other trade ideas, the black lines are my entry zone, the red line is the stop, and the green line is the profit target. Keep an eye on the arrival. I don't like seeing too much basing as price...
Let me take a minute to emphasis the Importance of this Resistance its a BIG one seriously.
This Resistance line which is Being Approached on $NZDCAD has held several times during this year before this encounter.
Also there is a CUP & HANDEL pattern forming which is giving some insane targets of close to 1.0450 so don't get carried away so easily.
I...
This double top pattern on 4-hourly chart of AUD/NZD gives an opportunity for a bearish breakout trade. The pattern's tops and neckline are marked with the yellow lines. My potential entry level - the cyan line. My potential take-profit level - the green line. Stop-loss is to be set to the high of the breakout bar (not shown).
More information, chart template,...
