On NZDUSD, price went into a bearish trend. One final bearish impulse is expected as we are targeting the support levels. Nothing else to mention, so wait for the trigger and Trade safe.
Best of Luck
Taking this continuation short after this pullback, already a few positions short. Price broke free of the 4hr trendline yesterday. This pullback was not too strong, so I will endeavor to make this position risk free as soon as I can!
Price came back to retest that key level so I suggest a sell in NZDUSD, although remember to always confirm a trade before jumping in, and use risk management too.
Like and comment if you agree with this trade.
We are at the end of “Wave B“ as per Elliott Wave Principle, we are expecting the price to start to move downward with the " Wave C".
Stop Loss: 0.6305
Entry Point: 0.6245
Target Profit: 0.5990
Do not hesitate any question for clarification.
Price has continued it’s downward trend and is currently retracing.
Look for any opportunities to short when it touches trendline and precious resistance between 0.588 and and 0.59 area.
Price may retest the 50ma and make an impulsive move downwards.
Trade wisely & hustle folks.
Patience is 🔑
USDollar is on a temporary downtrend the second the government re-opens I expect the Dollar to come out of it's rut. They are not going to risk anyone losing food, or credit the US Government makes way too much money for that. New Zealand is powered by Milk prices, and produce which is still a limited market. Still a very good short entry as I see...
Here we are on kiwi dollar daily chart and as we can see this market is in existing down trend and trend line also broken in the direction of this trend. we would wait for the pull back towards near by resistance area which is nearly at 0.6677-0.6719. We have good confluence factors here such as trend, price level and dynamic resistance layer. we will see how...
Fundamentals:- We have retail sales out from NZD tonight at 11:45pm so the markets will just be open in time. Depending on the figure will depend on where we enter this trade it might be that the market even opens lower than it closed in anticipation of the data. Expecting the USD to continue strengthening into the week next week certainly against the weaker...
This pair is testing our patience, one more move up is possible but for longer term I'm looking to sell it. We still have nice divergence on macd, I will add more sell every time price reach the top. You can trade for short term up but it is risky.