Hey Traders, in the coming week we are monitoring NZDUSD for a buying opportunity around 0.60400 zone, NZDUSD is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 0.60400 support and resistance area. Trade safe, Joe.
The AUD is forming a Bearflag against the NZD on the Daily as the RSI cracks below the Mid-Line, if it plays out we could see the bottom half of the range soon. It also should be noted that the NZD has outperformed a lot of big currencies recently such as the CAD and USD so it would be somewhat expected for the AUD to underperform against it.
The GBPNZD pair has enter a Channel Down pattern with the 1D MA50 as its pivot. A similar pattern emerged in May 2022, after the pair made an identical top and bottom (see the blue Rectangle). This time we have an additional support in the form of the 1D MA200 (orange trend-line) but as long as the price trades within the Channel Down, sell every Lower High and...
NZDJPY - 24h expiry We are trading at overbought extremes. This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further correction lower. The hourly chart technicals suggests further upside before the downtrend returns. Preferred trade is to sell into rallies. Although the anticipated move lower is corrective,...
Hey Traders, in today's trading session we are monitoring NZDUSD for a buying opportunity around 0.59200 zone, NZDUSD is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 0.59200 support and resistance area. Trade safe, Joe.
NZDUSD - 24h expiry There is no clear indication that the upward move is coming to an end. Although we remain bullish overall, a correction is possible with plenty of room to move lower without impacting the trend higher. Risk/Reward would be poor to call a buy from current levels. A move through 0.6075 will confirm the bullish momentum. The measured move...
NZDJPY - 24h expiry The correction lower is assessed as being complete. Further upside is expected. Risk/Reward would be poor to call a buy from current levels. Momentum is flat, highlighting the lack of clear direction. A move through 89.50 will confirm the bullish momentum. We look to Buy at 89.00 (stop at 88.60) Our profit targets will be 90.00 and...
Seeing this pair reject from either the current local resistance boundary or if not the longer term descending trendline. I'm expecting NZD weakness in the coming week so monitoring LTF's carefully. I believe we'll be dropping down from either 0.538 or 0.543, a break above this latter number could signify reversal.
After price had been moving up with decent momentum, it began to retrace back down in a form of a descending channel, which is a form of internal liquidity. Price held this formation all the way down till it tapped a long term demand zone, taking out liquidity below the established channel in the process. It preceded to break an internal structure strong high,...
The AUDNZD pair hit both our sell and buy Target since we last looked at it (see chart below) on September 26: The price is now both on the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line) which move parallel and has started the new bearish wave (red arc) towards the Higher Lows trend-line of the long-term Triangle pattern. As you can see, this is...
The NZDJPY is trading within a Channel Up pattern and is currently on the latest bullish leg towards a new Higher High. All previous waves have been at least +6.12%, so that gives us still an opportunity to buy and target 92.150. If the RSI hits 73.40 before the target, close the buy regardless, as the 73.40 Resistance has formed the September 29...
NZDUSD is currently approaching a strong intraday/daily horizontal demand cluster. After a CPI release, pay attention to an expanding wedge pattern on a 4H time frame. Its resistance breakout - 4h candle close above - will give you a strong bullish confirmation. A bullish movement will be anticipated at least to 0.5899 Alternatively, a bearish violation of a...
Price is in a bullish trend as it has been breaking highs and respecting lows. It broke the previous high with momentum where it receded to consolidate and retrace gradually, forming liquidity in the process. Due to the nature of this break, price could use the latest strong low as liquidity to reach for a demand zone that was previously unmitigated before...
Hey Traders, Take a look at this analysis on NZDCHF. It's advisable to wait for a breakout either below or above the flag pattern, which appears to be forming gradually on the RSI indicator. Keep a close eye on this development.
I believe it would have more downside, but do take note of the minor support on the daily and could bounce to pullback before going down further. **Find out more from my Tradingview Stream this week** *************************************************************************************** Hello there! If you like my analysis and it helped you ,do give me a thumbs...