Price has formed a Major Rising Wedge (bearish reversal pattern) on the 4hr tf.
Price is also at a Major resistance zone with Bearish divergence on the RSI.
I expect price to do some sort of a stop hunt taking out the previous high before falling.
Here is the play I will be taking:
(SELL STOP ORDER)
Entry - 1.07546
Stop Loss - 1.08118 - 57.2 pips
Take Profit...
This one is diving inside a resistance zone while hovering around a non-horizontal support which gives us insights on a potential selling opportunity if the price manages successfully to break the trendline. It would be better if a 3rd confluence can be spotted such as a double top or a head and shoulder pattern to add more confirmation on this one. Until then,...
My advisor MarketMiracle generates a LONG entry signal for NZDJPY at the price 78,87 with a target price of 79,97 with a possible profit of 1,40%
Checking the chart configurations I verified that the current situation is actually compatible with the forecast.
There are no particular obstacles and the wave of the big players (Mmiracle Viewer yellow color)...
The markets continue to grapple with the immediate effects of the Coronavirus. The second wave in pockets of the world has forced cities to take active measures to control the virus. Melbourne, Australia has gone into a secondary lockdown while Florida and Los Angeles see cases surge, with the Mayor of Los Angeles stating that the city is “on the brink” and a...
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The unexpected interest rate cut last Wednesday from the Reserve Bank of New Zealand caused a wave of shock to other major currency pairs in recent sessions.
Analysts believed that the depleting value of the Chinese yuan has pushed China’s allied country, New Zealand, to take actions. The Chinese government allowed the yuan to go down as a countermeasure for...
GBP/NZD is and a Monthly support level and also a Bullish Pennant Pattern.
The entry is at: 1.93100
SL: 1.88300
TP: 2.07400
-The trade is for Long Term investment with profit/loss ratio of 3:1.
-Don't risk more then 0.1% - 0.50% in a trade.
Looks like EUR/NZD is about to show us something interesting. If it breaks the line -----> Bearish trend down to 1.62000 level
If it won't break the line -----> then we will see a further upward movement possibly up to 1.74000. Fundamentals are in favour of EUR!
So let's keep an eye on this lovely currency pair!
