Break and retest of level with rejection wicks on h2. RR = 1.54
Analysis: Upwards trend (bullish confluence factor) Retest of an old support level (bullish confluence factor) 61.8% fib retracement level (bullish confluence factor) Upwards trendline touch (bullish confluence factor) NZD is the 5th strongest major currency whereas the USD is the 3rd strongest major currency (bearish confluence factor) 2K short...
NZDJPY - 24h expiry Previous support located at 84.25. Previous resistance located at 84.50. We have a 38.2% Fibonacci pullback level of 81.50 from 85.50 to 84.00. We expect a reversal in this move. Risk/Reward would be poor to call a buy from current levels. A move through 84.50 will confirm the bullish momentum. We look to Buy at 84.00 (stop at 83.60)...
NZDUSD - 24h expiry - We look to Buy at 0.6325 (stop at 0.6250) Previous support located at 0.6325. Previous resistance located at 0.6400. Further upside is expected although we prefer to set longs at our bespoke support levels at 0.6325, resulting in improved risk/reward. A move through 0.6400 will confirm the bullish momentum. Our profit targets will be...
We used the theory of price action in order to conduct this analysis, so that we could guide our decision-making process. Based on the results of this analysis, we can see that the price is moving upwards while using the ascending channel to do so. In the past several months, the price has given us numerous pullbacks and bounce backs. In addition, the price has...
The NZD/USD has been on an uptrend since mid-October. However, this rally may be on a temporary halt as the pair hits the upper trend line on its downward channel, as shown below in the daily timeframe chart. For now, the long-term downtrend, since the start of the year, is still intact and could signal a possible reversal for the short-term rally for the New...
A couple surprising notes have appeared in the Bank of International Settlements’ (BIS) survey released today (28/10/2022). The triennial (occurring every three years) survey was conducted with the involvement of monetary authorities, like central banks, from 52 territories as well as 1,200+ commercial banks. Trading volume increases Foreign exchange trading...
NZDUSD - 21h expiry - We look to Buy at 0.5625 (stop at 0.5550) Previous support located at 0.5625. Previous resistance located at 0.5700. Indecisive price action has resulted in sideways congestion on the daily chart. Risk/Reward would be poor to call a buy from current levels. A move through 0.5700 will confirm the bullish momentum. Our profit targets...
The GBP/NZD has continued to sink from its recent high of 2.032 and is now well below the 2.000 level that the pair closed below on Tuesday. A major factor determining the movement of this pair is the respective inflation rates data from each country that was released this week. The annual Inflation rate for the United Kingdom rose back to 10.1% in September...
By the close of last week's trading session, the top 3 worst performing currency pairs came out to be the USD/PKR (-4.91%), NZD/USD (-2.61%), and USD/SEK (-2.04%). To help determine the direction that these pairs will take this week, we will use the Hacolt Indicator (Vervoort Heiken-Ashi Longterm Candlestick Oscillator). Will the pairs continue to slide, or are...
NZDUSD on the way to fill Hedge to the upside, pls manage risk
FUNDAMENTAL ANALYSIS GBP/NZD Price Impacting Economic Events *( GBP upcoming events are important and leading economic indicators and WILL impact price during trade, increasing volatility and unpredictability ) ……………………………………………………………………………………. GBP TODAY Economic Events: - Unemployment Rate ( 3.8 same as previous ) - Unemployment Claims ( -20.1k higher than...
New Zealand's CPI rose to 7.3% from 6.9% in the first quarter. This prompts analysts to believe that RBNZ will raise the interest rate with more than anticipated in order to mitigate the roaring inflation. This expectations will resume most likely till the RBNZ August meeting where the decision for the interest rate will be made. Both MACD and RSI indicators...
The NZDUSD price is still playing the trend of going down, just like the other pairs with USD. And also, there might be a possible retracement next week given the fact that it looks exhausted on the indicators that we are using. However if we are going to look at the higher timeframe, it still looks bearish and just the start of it. I just said it might reverse...
Long NZDCHF. NoBrainer. 900 Pips upwards. Watch the magic.
Nzd/Usd buy H1 intra Day Trade Stop Loss - 0.67029 Target - 0.68107
Feb 16 A perfect sell setup for the pair. as the Russia ,Ukrain uncentainty ways on hi beta currencies , we expect it to have a very negative impact on the AUD and thus pressure the pair. The market structure has a perfect WXY pattern that makes the pair very attractive for the coming even. good trade manangement required.
Weekly Forex Forecast | Look for BUY Setups * This is only for educational purposes*