Buy below 0.7202. Stop loss at 0.7153. Take profit at 0.7331. Reason for the trading strategy (technically): We remain bullish looking to buy above major support at 0.7202 (Fibonacci extension, horizontal swing low support) for a further push up to at least 0.7331 resistance (Fibonacci retracement, horizontal swing high resistance). RSI (34) sees an ascending...
Buy below 0.7202. Stop loss at 0.7153. Take profit at 0.7331. Reason for the trading strategy (technically): We remain bullish looking to buy above major support at 0.7202 (Fibonacci extension, horizontal swing low support) for a further push up to at least 0.7331 resistance (Fibonacci retracement, horizontal swing high resistance). Stochastic (55,5,3) is seeing...
Sell below 0.7202. Stop loss at 0.7153. Take profit at 0.7331. Reason for the trading strategy (technically): Price has bounced up nicely as expected from our buying area. We remain bullish looking to buy above major support at 0.7202 (Fibonacci extension, horizontal swing low support) for a further push up to at least 0.7331 resistance (Fibonacci retracement,...
Hi traders! As I looked through my charts this morning, NZDUSD spoke to me. I'm seeing a head and shoulder pattern forming on the daily time frame! I'm torn though because I don't see the USD getting stronger but the NZD can make a case for itself to be a weak currency at the moment too. MACD is almost crossing and RSI bounced off the 50 line. The RR is pretty...
Pending Long @ 0.6990 Stop Loss @ 0.6785 Target @ 0.7560 RR Ratio @ 2.78 Head Shoulder Neck Line Break out also possible to go short but i prefer the long side. Trading involves substantial risk of loss. I'm just providing insight into what trades I'm taking.
Buy above 0.7202. Stop loss at 0.7153. Take profit at 0.7331. Reason for the trading strategy (technically): Price is now testing our major support buying area. We remain bullish looking to buy above major support at 0.7202 (Fibonacci extension, horizontal swing low support) for a bounce up to at least 0.7331 resistance (Fibonacci retracement, horizontal swing...
Buy above 0.7202. Stop loss at 0.7153. Take profit at 0.7331. Reason for the trading strategy (technically): Price has dropped absolutely perfectly and has reached our profit target. We prepare to buy above major support at 0.7202 (Fibonacci extension, horizontal swing low support) for a bounce up to at least 0.7331 resistance (Fibonacci retracement, horizontal...
Sell below 0.7304. Stop loss at 0.7340. Take profit at 0.7223. Reason for the trading strategy (technically): Price has dropped absolutely perfectly from our selling area and is fast approaching our profit target. We remain bearish below 0.7304 resistance (Fibonacci retracement, horizontal overlap resistance) for a further drop towards 0.7223 support (Fibonacci...
Sell below 0.7337. Stop loss at 0.7373. Take profit at 0.7223. Reason for the trading strategy (technically): Price is now testing major resistance at 0.7337 (Fibonacci retracement, horizontal swing high resistance, bearish divergence) and we expect a drop from this level to at least 0.7223 support (Fibonacci extension, horizontal swing low support). Stochastic...
Sell below 0.7337. Stop loss at 0.7373. Take profit at 0.7223. Reason for the trading strategy (technically): Price is now testing major resistance at 0.7337 (Fibonacci retracement, horizontal swing high resistance, bearish divergence) and we expect a drop from this level to at least 0.7223 support (Fibonacci extension, horizontal swing low support). Stochastic...
Sell below 0.7290. Stop loss at 0.7335. Take profit at 0.7223. Reason for the trading strategy (technically): Price has reversed perfectly from our selling area and is approaching our profit target. We remain bearish below 0.7290 resistance (Fibonacci retracement, horizontal pullback resistance) for a further push down to at least 0.7223 support (Fibonacci...
Sell below 0.7322. Stop loss at 0.7372. Take profit at 0.7223. Reason for the trading strategy (technically): Price is now testing major resistance at 0.7322 (Fibonacci retracement, horizontal overlap resistance) and we expect to see a reaction from this level for a push down to at least 0.7223 support (Fibonacci extension, horizontal swing low...
Sell below 0.7258. Stop loss at 0.7286. Take profit at 0.7196. Reason for the trading strategy (technically): Price has broken our major support-turned-resistance level at 0.7258 and we prepare to sell below this resistance level (Fibonacci retracement, horizontal pullback resistance) for a further push down following our bearish channel momentum to at least...
Daily outlook - NZD/USD reaches 0.7292 As it was expected, beginning of the new week the NZD/USD pair spent in a relatively horizontal and steady movement. Namely, the currency rate managed to climb to the 0.7330 level and then made a rebound a started to gradually slide back to the bottom. The first target, namely, the monthly S1 at 0.7294 it has...
Buy above 0.7256. Stop loss at 0.72299. Take profit at 0.7326. Reason for the trading strategy (technically): Price has dropped perfectly from our selling area yesterday and is fast approaching our profit target. We prepare to buy above major support at 0.7256 (Fibonacci extension, horizontal swing low support) for a push up to at least 0.7326 resistance...
Sell below 0.7329. Stop loss at 0.7371. Take profit at 0.7263. Reason for the trading strategy (technically): Price has bounced up perfectly from our buying area and has reached our profit target. We prepare to sell on major resistance at 0.7329 (Fibonacci retracement, horizontal resistance, channel resistance) for a push down to at least 0.7263 support...
Buy above 0.7258. Stop loss 0.7236. Take profit at 0.7337. Reason for the trading strategy (technically): Price is testing major support at 0.7258 (Fibonacci extension, horizontal swing low support, channel support, bullish divergence) and we expect to see a nice bounce above this level for a rise to at least 0.7337 resistance (Fibonacci retracement, horizontal...
Daily outlook - NZD/USD slips to 0.7310 An early hours of Wednesday’s trading session confirmed that the Kiwi was rapidly depreciating against the buck in a flag pattern. For this reason, the currency rate has expectedly bounced off from the weekly S2 at 0.7310. Most probably, the surge would continue at least until the 0.7348 mark. A number of...