NZDUSD is finding resistance prior to the USD personal income data, which shows the total income for individuals domestically. Technically the pair has found resistance around the significant 0.7300 level after the daily chart broker bullish structure. The 0.7300 region is a strong resistance zone, and we anticipate downside. The PPO has also given a bearish cross.
NZDUSD broke uptrendline
Price is based on HVN at level 0.7175 which indicates that pair is in distribution phase
Below SMA 100
MACD shows bearish momentum
It's expected for coming correction to target support level at 0.7065
NZDUSD is trading above an ascending trendline and the price is completing the right shoulder.
According to Plancton's strategy if the price will break below we will set a nice short order.
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure ->...
Trading suggestion:
". There is still a possibility of temporary retracement to the suggested resistance line (0.72400).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. NZDUSD is in a range bound, and the beginning of a downtrend is expected.
. The price is below the 21-Day WEMA, which acts...
due to the chart, the currency has a sideway movement, so we should wait to break out the front resistance and make a pullback and then you can open a long position on this currency.
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Prices are facing bullish pressure from ascending trendline support and horizontal pullback support, in line with 50% FIbonacci retracement and 61.8% Fibonacci extension . Prices might push up further towards 1st resistance in line with horizontal swing high resistance, 127.2% Fibonacci retracement and 161.8% Fibonacci extension . If prices fall through 1st...
Prices are facing bullish pressure from ascending trendline support and horizontal pullback support, in line with 50% Fibonacci retracement and 61.8% Fibonacci extension. Prices might push up further towards 1st resistance in line with horizontal swing high resistance, 127.2% Fibonacci retracement, and 161.8% Fibonacci extension. If prices fall through 1st...
NZDUSD at Fibonacci Resistance level and Daily Pivot R2, combined with Harmonic Pattern and MACD Divergence on the 4Hr is enough confirmation for a short trade on this pair. A little drawing illustration of the 1.272 Fib ratio on the chart if you're using either the ABCD tool or the Fib Retracement.
Happy Trading folks!
Cheers!
