NZDJPY - 24h expiry The correction higher is assessed as being complete. Price action has continued to trend strongly higher and has stalled at the previous resistance near 91.15. We expect a reversal in this move. Risk/Reward would be poor to call a sell from current levels. A move through 90.90 will confirm the bearish momentum. The measured move target is...
NZDUSD - 24h expiry There is no clear indication that the upward move is coming to an end. The correction lower is assessed as being complete. RSI (relative strength indicator) is flat and reading close to 50 (mid-point) highlighting the fact that we are non- trending. Risk/Reward would be poor to call a buy from current levels. A move through 0.6170 will...
The GBP/NZD pair on the M30 timeframe presents a potential buying opportunity due to the presence of a well-defined bullish channel pattern. This pattern suggests ongoing buying pressure and a higher likelihood of further advances in the coming minutes or hours. Key Points: Buy Entry: Consider entering a long position around the current price of 2.0785,...
The EUY (EUR/NZD) pair on the M30 timeframe presents a potential buying opportunity due to a recent upward breakout from a triangle pattern. Key Points: Buy Entry: Consider entering a long position around the current price of 1.7725, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: Initial...
Hey Traders, in today's trading session we are monitoring NZDCHF for a buying opportunity around 0.53900 zone, NZDCHF is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 0.53900 support and resistance area. Trade safe, Joe.
Hey Traders, in today's trading session we are monitoring NZDUSD for a buying opportunity around 0.61700 zone, NZDUSD is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 0.61700 support and resistance area. Trade safe, Joe.
GBPNZD - 24h expiry Price action looks to be forming a top. A bearish Head and Shoulders is forming. As this corrective sequence continues we look to set shorts on a rally at better risk/reward levels. The 50% Fibonacci retracement is located at 2.0790 from 2.0915 to 2.0666. The hourly chart technicals suggests further upside before the downtrend returns....
The GBP/NZD pair on the M30 timeframe presents a potential buying opportunity due to the presence of a well-defined bullish pennant pattern. This pattern often suggests a continuation of an uptrend, potentially leading to further advances in the coming minutes or hours. Key Point s: Recent Price Action: The recent price action shows the price holding above the...
The NZD/JPY pair on the M30 timeframe presents a potential selling opportunity due to the presence of a bearish channel pattern. Sell Entry: Consider entering a short position around the current price of 91.65, positioned near the current price within the channel. Target Levels: The initial bearish target lies at the 91.15 level, which represents the previous...
NZDJPY - 24h expiry Price action looks to be forming a top. Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. The rally is close to an exhaustion count on the weekly chart. Although the anticipated move lower is corrective, it does offer ample risk/reward today. Bespoke resistance is located at 91.80. We...
NZDUSD - 24h expiry Indecisive price action has resulted in sideways congestion on the intraday chart. Short term RSI has turned positive. A move through 0.6095 will confirm the bullish momentum. The measured move target is 0.6125. Risk/Reward would be poor to call a buy from current levels. We look to Buy at 0.6080 (stop at 0.6060) Our profit targets will...
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Hey Traders, in today's trading session we are monitoring NZDUSD For a selling opportunity around 0.61400 zone, NZDUSD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.61400 support and resistance area. Trade safe, Joe.
The NZDCHF pair has been trading within a Channel Up pattern since the October 23 2023 Low. After breaking above the 1D MA200 (orange trend-line) for the first time in more than 1 year (since January 31 2023), the pair confirmed the trend shift from long-term bearish to long-term bullish. The recent 3-day pull-back to the 1D MA200 is a technical buy...
NZDUSD is on a bearish 1D technical outlook (RSI = 42.566, MACD = 0.000, ADX = 31.358) as not only is the long term pattern a Bearish Megaphone but even this week got rejected on the 1D MA50 and maintains the LH sequence. We are bearish on this pair aiming for a -4.18% decline from this week's LH (TP = 0.59600), which is the lowest decline of a 1D MA50 correction...
The NZDCAD pair has hit the 1D MA50 (blue trend-line) yet again today and remains under Resistance 1 (0.84300) since July 14 2023, having multiple rejections on it. We do see however the potential for the emergence of a Channel Up, as the 1D RSI is printing the same pattern as the October 20 2023 Low, which initiated a Bullish Leg. If the Channel Up prevails,...
We've broken out of the long-term bearish trend. I'm waiting for a retest of the descending trendline and then going for a buy. This idea should be supported by fundamentals this week, with a dovish SNB and a hawkish NZB.
Big news from the RBNZ shortly, it is possible we'll get a hike, but either way I'm expecting NZD strength as a result. I'm seeing weaker Euro, and the pinbar shooting star today on the daily candle means price action is also in favour of a continued short trade here.