In the past month and a half, NzdUsd traded in a range between 0.7250 and 0.7100 (ignoring the short-lived spike above 0.7250 at the beginning of the year) With DXY looking ready for a new leg up I expect Kiwi to also roll back to at least the bottom of the range at 0.71. Also a sell trade with this target can have a great R:R of more than 1:2 A daily close...
NZDUSD ANALYSIS Please consider to put a like to my idea for supporting me & subscribe for more ideas. Idea is not the financial advice!
USD has had a poor week, could it hold at these levels and force some XXXUSD pairs back down? Lets see. Entry, SL and TP details are on the screen. ------------------------------------------ Please hit the 👍 LIKE button if you like my ideas🙏 Also follow my profile, then you will receive a notification whenever I post a trading idea - so you don't miss them....
See Signposts for key price action details.
Currently the weakest of the "commodity currencies". It's a fair try to go SHORT here especially since the U$D has bottomed, for now.
We are travelling in a huge range here. There will be loads of buy stops above the resistance, which will create a great area for manipulation to occur. I want to see a spike above before the sell-off as illustrated.
Upside is the overall bias on this pair, we either are going to ascend smoothly from here or we will see a dip into the order block before reversals.
Waiting for price to pullback FOLLOW ME ON INSTA FOR MORE
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Now that the neckline liquidity has been purged we can look to trade the true move to the downside if we manage to get a clean structure crossover as illustrated. COT Data - 56.4% Short
NZDUSD Short Setup Price broke the trendline and retested to the 78.6% Fibonacci Retracement level.
Nzdusd - Daily chart - Price action is trading in a downtrend on the daily chart after breaking below a previous higher low. We are looking to sell this pair around 0.7190 for a decent 4:1 R2R trade.
As we can see a H& S pattern in H4 time frame and also market already test 2 times its resistence level near its LEFT SHOULDER. Also market had broken its TL since 1 NOV 2020.
NZDUSD WAVE CORRECTION Market Sell Order Set Up. Sell Entry: (0.72323) Take-Profit: (0.71323) Stop-Loss: (0.72972) Max Risk-Reward: (1.54) Smash a Like button and leave a Comment, I appreciate every support. Goodluck.