Watching the NZDUSD for a reversal as Crude oil starts to rebound, expecting the summer months to be hot for oil stocks so keep that on watch. Still manage your risk with stops & take profits.
NZDJPY looks like it may correct long on the daily chart, but be weary of any continued strength. NZD pairs are weak. JPY pairs are corrective. Looking for corrective strength and more downside.
Risk sentiment is supported. NZD has highest interest rate in G10.
We have a triangle forming, and within it a Gartley completing right at bullish trendline / lower triangle. We also have a AB-CD within the gartley to strenghten the gartley pattern. Targetting 0.382 fib of A-D move, stop loss below trendline.
Entry 0.73000 Simple price action for this one. Possible long with the first target at 0.74000 which is sitting on the weekly S&R and possible targets of 0.7600 which is resting on the monthly S&R. A break of the second level of resistance will confirm the end of the downtrend and give me more confluence that the pair will continue its bullish movement. The...
Support was found at .72900 price up to .73500+ Entry: .73 to possibly .73500+ s/l .72880
Break and restest of the 50 EMA Bounce off the pivot point Bullish Engulfing Upcoming news in NZ of consumer confidence could be a good boost or if negative could move the trade against us. risk/ reward 1:2 Stop below 50EMA and Pivot point. TP just before R1 but will need to trade through some previous resistance level at .70800 risk .5% Let me know your...
Not much fundamental reason to short this pair this morning but the technical set up gives us a good risk reward ratio and an opportunity to take advantage of the candle stick pattern and the declining trend line on the daily chart. The engulfing patttern shows sellers coming into the market as the price rejects the declining trendline trading it down to the...
Looking for price to retrace a little further then continue it's way up once more
price goes back to former resistance now support, idea is for it to bounce and continue moving forward
Waiting for price to hit my entry, I anticipate that the selling pressure will be reduced shortly
The channel formation on this currency pair has finished with a higher low and "morning star" pattern within the channel and currently trying to breakthrough the 6400 level. If we continue north then a close above 6400 on the daily should see the channel wide breakout to the 6580 level. Although this is only 1:1 risk reward it is the initial take profit and could...
Learn 2 trade like a pro for FREE! - boafx.com - Unwinding of safe haven flows has caused buyers to come back into commodities temporarily causing Commodity related currencies to show some intraday strength. However I don't expect this to last and will look for a rejection of the pivot point which is in proximity to the 50% fib retracement on the currenct downward...