NZD Continues Short RunPrices have barely tipped into supply and it appears that sellers are dominating the run early.
6NU2015 trade ideas
Potential trend change - Buy .6582RSI 3 crossed above 20
RSI14 crossed above 30
Stoch crossover
This may be another attempt at a trend change ( to uptrend).
Last time this occurred was in July, but it failed due to increasing USD strength.
I would enter at .6582 with .6544 as my stop.
Short on New Zealand FuturesStoch crossed, MACD signal a couple of days ago, and RSI crossed below 40 today.
Strong trend down, but I am uncertain how much further down it can go. Been down here for a while now.
NZD: Trade for Bearish Wave After breakout of the ending diagonal structure (previous idea linked below) I am interested in sells. There is now a nice correction forming under the trendline. Not sure if it will reach so high but for now I will place trade as shown. More details on chart.
New Zealand Dollar: Trade for Bullish Breakout of FlagLooking for entry as shown for a potential breakout of the flag on the hourly and perhaps eventually the flag on the daily (zoom out). Will update later in the day, it will be a busy one for me.
New Zealand Dollar GartleySince the move on USD the New Zealand dollar is setting up for a fall. Projected pattern bullish Gartley. RSI 50% should take us down to S2 support at .7055
NZD Futures Chart ReviewPrice has climbed steeply. This indicates that price has moved too quickly. Steep and quick is a set up for price to decline anytime. Look at the price levels marked by the horizontal 3 black lines. These are potential areas for price to descend to. Price is also diverging away from the rsi. Rsi line marked on chart is flatter relative to the price climb. Watch for price to break support.
NZD Futures Chart ReviewRising wedge formation is bearish. Watch and stay on the sidelines until you see price break.
New Zealand FuturesRSI is overbought and beginning to tip. You have sellers into supply (black lined banded area) where they would be to take shorting positions. I have marked profit target areas.
New Zealand Dollar Bearish CypherNZD tapping out on RSI hit just below R2 resistance. Expect fall soon. USD bullish and at an end for downside, or at least pretty close. Downside target for NZD is pivot at .7006. Need break at R1 .7124 for confirmation.
NWZThere is a high chance of retracement to occur between the levels 50% - 61%.
Looking at a higher timeframe, we can see it broken the upward channel.
New Zealand Dollar Analysis - ShortFX_IDC:NZDUSD
Several factors pointing to a reversal in price:
- Fibonacci Cluster (161.8% extension, 327.2% projection, 70.7% retracement)
- 9 month Trend line Resistance (9/7/16-present)
- Elliott Wave 5 Top
- Supply zone
- Doji candlestick
Tough to short against such a strong uptrend, therefore look for confirmed reversal in form of back to back bearish candles, lower high + reversal candlestick, etc.
NZD Futures: Bearish Shark & Double Top w/ DivergenceI just entered right now at .0742 for the completed Shark pattern. Price seems to be stalling in this area and there is bearish divergence present on both the RSI and AO. The hourly AO just turned red as well for a little extra confluence.
I am only risking ~10 pips on this first try and targeting 0.6927 for a potential bullish 5-0 pattern. As per my strategy when I am up ~10 pips (equal to the risk) I will move to breakeven/cover costs and see what happens.
New Zealand Dollar Mini H&S and Bearish FlagJune New Zealand dollar has created a mini head and shoulders, plus a bearish flag. USD was up sharply today. Looking for more gain on USD and possible fall of the NZD. Next downside target is 78.6 FIB, .6914. This would start to fill out the last bit of the Bearish BAT pattern.
New Zealand DollarNew Zealand dollar has produced a tweezer top reversal pattern. Friday's rejection of higher prices suggests a lower price Monday. The USD has produced an evening star doji, which might produce one more push up to finalize that last shoulder of the H&D and then head down. NZD also produced a evening start reversal Tuesday indicating a reversal on Thursday.
On to RBNZ.. Watch the Head and ShouldersKiwi likely to come under pressure on RBNZ rate cut, which is already priced in but the current risk off sentiment could weigh on the New Zealand dollar (N61!) in the near term. Watch the head and shoulders pattern, which will be triggered on the break of the rising neckline support.
Downside targets: $0.7030 and $0.7000
***Long Opp***All signals are a go on this one as well.
One could buy the future contract or sell a put option for a more conservative approach.
Futures trading involves risk of loss and may not be suitable for all investors.
The Kiwi in Action Reaction MomentumStill the strongest major currency in a clear up trend. The official cash rate of RBNZ has been held at 2.75% since March 13th, 2014 (after the .25 pp rate hike), which keeps the investors interested in NZD. The best FX bets in favour of NZD would be against the JPY, USD and the CAD.
