A few clues here adding to this case: Price clearly respected; 0.382 fib Trend line Structure And it showed it respect by showing a double top (A) followed by a 2618 (X). To our protection we have structure zone + fib + trend line (Z), all combining. I entered my first position after double top. Second position after 2618 Its a bold target, but price gives...
Gartley completing within a price range that has previously been showing both support and resistance many times. Together with the structure we also have a bearish trend line to back up as resistance. Target 0.382 fibo of A-D leg. Lets see if we get filled
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...
Falling trendline together with structure as resistance. SL above hiher falling trendline. Target just above previously broken support/bullish trendline
Fundamentally: increasing monetary policy divergence between the Fed and RBNZ. Technically: the Kiwi has broken its 2016 uptrend, and is retesting the underside of the 2016 trendline. Fair value is around 0.65 given the current economic outlook for NZ and USA.
RBNZ has not changed its dovish stance. Fed remains hawkish. NZDUSD showing divergence to 0.7322. Strong resistance on 4H chart. Many major banks forecast NZDUSD below 0.70 in medium term. This currency pair is a sell at spot.
Looking at the past, this NZD CAD pair might go south. Seen the bullish look on oil this seems also a logical route (CAD is closely related to oil prices).
NZDUSD touched a 14-month high yesterday at 0.7344. However, I believe it is overpriced, because: Fundamentally: the RBNZ are in a easing cycle, and cut rates at their last meeting. However, RBNZ struggled to devalue the NZD with their rate cut. Thus, I believe they will take a different approach in the coming months to devalue the NZD - perhaps in the way...
Aggressive rejection of 1.05 level could lead to sharp surge back up to 1.13 in the coming weeks
Bears will probably be paying attention to this pattern forming on the daily. I myself am not going short, but I would love to hear you made some money off this one. Things that are interesting: - measured H&S profit area, exactly matches: --- rounded .68 number --- earlier high (green box in march) - rsi divergence around the neckline and - failure to go...
With NZD still struggling to make any consistent good data and CPI expected to fall again this week we expect to see a huge relief rally on this downside against the GBP. This is a longer term trade and will probably last for a few weeks so trading it at smaller lot sizes to accommodate the large stop loss is wise...also take into consideration the difference in...