NZDUSD had a good run up recently. But since then we have Double Topped and broken and closed below 2 support levels now. I've sold this rally and entered on a reversal pattern via candlesticks. Stops - 1 ATR Above the Reversal Zone (Yellow Box) Target #1 - Retest of Lows Target #2 - 1.27% Fib Ext
NZDUSD to retrace back to bottom channel of a bigger correction wave. Short term. Trade with care
Potential 2.618 pattern at structure zone .
NZDUSD is in a daily correction. My detailed analysis - NZDUSD short trade set up . But which pattern do you think will be formed? Nevertheless, I am bearish on this and expect the start of a bearish move. The wave down will give us a clue of possible patterns.
FX:NZDUSD Trade the eventual Breakout, buy the harmonic IF/When completed. Safe Trades; open.spotify.com
So looking at the 30 min time frame and hour we can see that this Doji formed which could see us move down, this would also take us down into the oversold area on the RSI. Completion of Point D see us down at a previous point of resistance which could act as support. The targets of .382 and .618 if the pattern completes would see us meet previous resistance levels
NZDUSD has entered a corrective structure. So back and forth price movement expected. None the less a very short term sell opportunity on the 60 min is possible. If this trade breaks out of the correction, we might be in for a long ride.
Technically, there is a potential for a bounce off of the cloud or a rotation out of it if price re-enters the cloud. Look for signs of reversal (note the red arrows highlighting previous cloud rotations). Fundamentally, right now we have pressure on dairy prices (www.globaldairytrade.info), pressure on commodities, and China concerns that could help propel the...
Friday's disappointing U.S. retail sales figure provides temporary bullish rally. Full analysis at ForexReloaded .
We have a nice pull back in this downtrend. The market is getting ready to reverse and continue with the downtrend. We also have a strong divergent and low volumes this ensures us that the market is about to reverse and continue with downtrend. We are targeting 60 pips from this set up.Stop loss around 40 pips.
On the NZD.USD 15min chart we have a potential short opportunity at the D leg completion of a Bat Pattern The price reversal zone on this pair is between 0.6493 & 0.6505 The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's. Potential targets for the Bat Pattern placed at the .382% and .618% retracement of...
Great Shark Pattern setting possibly forming here on NZD/USD on the 30 min if the market moves all the way to 0.65500s. It completes at a resistance level for added confidence in the set up. Great Risk/Reward as well. Happy trading
In this trend it is bound to fall after the consolidation of the higher timeframe, so short on highs!
After todays NFP we had a break of the long trending bearish flag formation. The first supply zone and target on the daily chart seems to be .6420 and the second .6230, then just to further monitor the behavior for further direction.
If today closes as a pin bar rejecting .66300, it would be a good opportunity to go long. Despite fundamental news about China crashing, the price was already affected by that.