Similarly to EURAUD, EURNZD presents us with a very interesting long opportunity. It would seem as if the Euro pairs have taken a breath before climbing higher overall, potentially even EURUSD, but I'd rather stick to these two (and maybe EURJPY) for a long trade. I'll update EURJPY briefly, for now I leave you with this chart, I believe it paints a pretty clear...
It seems like the Euro pairs still have some upside left. Today's close above the mode will confirm a long setup, with a target set at 1.56814. I'll be buying a small position now, and scaling in on a retracement if possible. Good luck! Ivan.
Addendum to my daily NZDUSD short idea. EW background suggests wave 2 completion is near...I'll be watching for a short entry. 1.618 of wave 1 matches my time at mode target but it could overshoot and hit lower levels if the RBNZ supports my view and continues aiming for a cheaper NZD. Tim West's rgmov indicator marks a high that hasn't been breached yet, I'd keep...
Analysis on chart. Entry, stop and exit. Good luck! Ivan.
There's a quarterly time at mode downtrend expiration signaling a long trade is possible, whilst the daily chart shows a falling wedge with an uptrending RgMov, displaying a nice channel. I'd suggest looking for an entry if the last daily high is breached with an up bar. Entry would be a buy stop with a 1 atr stop under the last daily low. Good luck!
In this chart I describe the relationship between gold, the pound and kiwi. I think we have a very strong trend going, which hasn't ended. It's highly possible that the gold EW count in the related ideas pans out, which would correlate with the bullish signals I obtain from the gbp/nzd and gbp/gold charts using time at mode. Initially, we had a correction after...
This is my time at mode analysis of this pair. Currently kicking off with a strong uptrend off a longterm mode. The horizontal lines map different areas of high volume from the past, which were 'fair value' at one given time. They are magnetic in nature and offer valuable clues as to where price will move, or where price will stop and reverse. In Elliott Wave...
We have a confluence of signals indicating a long is possible from this area. We got: Key hidden levels options expirations support Downtrend signal that probably won't be reached in time. (if not reached = bullish!) RgMov in an uptrend since the inverted head and shoulders in jangseohee's chart formed. Also showing fibonacci levels of support at play. (It...
This is an interesting chart. I was under the impression that this was a running correction intially but the recent price action makes me think otherwise. The majority of the people are expecting a rate cut this week, during the RBNZ rate decision on Wednesday. With heavy UK data coming out tomorrow, volatility is a given and I think the bigger risk/reward ratio...
We have one more push up left before this turns into a massive short in my opinion. Right now, I had a short running, from a lower timeframe entry but I'll cover and go long at the support level in green, which also matches an 11 bar daily mode. Look at the momentum indicators, I plotted a derivative oscillator, composite index and RSI with averages to illustrate...
Same as EURNZD, this is about to confirm. We can enter now and also on a retracement. 1st entry: 2.40595, sl at 2.3383, 1 pip under the mode. Good luck!
Analysis on chart + neowave wave chart (weekly plot) + a new indicator I coded. See related ideas for the code. Good luck! Ivan.
Two weeks ago, I suggested that the kiwi dollar could stop falling (after 12 consecutive weeks of declines against the US dollar) as a long term support at $0.65 was being tested. Prices are back up to $0.6515 just before the RBNZ rate statement later today. The consensus expects another 25 bp cut in the main refinancing rate to 3.00%. The latest cut took the...
I'll open a pair trade to minimize risk in my GBPUSD long setup. There's a weekly sell opportunity in the NZDUSD chart, which will give me a relatively low risk entry as per my analysis that gold isn't done falling, and that NZDUSD (and GBPNZD will resume the trend they are in). Position size is based on the ADR figures for both pairs, risking 2% and aiming for...
Analysis on chart. I'd suggest waiting and buying lower if possible. Stop loss reccomendation doesn't change. See related ideas for more info. Good luck, Ivan.
Ok, some traders noticed this vertical advance and want to short it. I do too, but not for now. I'll wait for confirmation before going short, but it looks like a potentially very good trade. It's reassuring that we are at the start of a new quarter, and many trends will start to reverse, and many pairs will come out of consolidation patterns as money managers...
Looking to go long NZDUSD on a retracement to my buy zone. The trade will be split in three orders. Stops will be directly under the low for one of them, below the red line on the chart, and slightly below the last bar open (factoring in the spread). This is a higher risk trade, but potential rewards make up for the exposure. I will risk 1% on the setup, and scale...
Interesting observations about EURNZD, if you are long from the bottom, good for you! But where do you take profits? Where do you scale in or how do you trail stops? Good questions that depend on your own methodology. Here, I'm seeing multiple hints for a possible top in this relentless rally. Everyone's pessimistic about the New Zealand Dollar, which makes me...