We are in a strong upward channel. 50 EMA on the Daily will be retested on the way up.
Will see what price action does when Market Opens.
Comment: Disclaimer: I am still new to trading and testing my strategies. Not all trades Ideas I post will result in live trades. The might be tested on demos accounts.
Please share your Ideas with me and I am always open...
We have a pretty interesting situation with the USD/NZD pair and this can open a few opportunities which we can capitalize from. From a COT perspective the New Zealand Dollar is in a neutral position. Neither long nor short contracts dominate the market and this gives a chance for the US Dollar to shine. A further decline in gold price may be a signal for the...
This majors based NZD index has been moving within a range on the daily chart between support at .7625 and resistance at .7825. Today's price action was indecisive near support. A close above today's highs, .7005, would show NZD strength and a move up to resistance could be underway. A break below would be showing further NZD weakness, as it has already moved from...
USDNZD has found resistance on daily trendline and created a double bottom over it.
The market recently has been moving in a falling wedge formation and market found resistance on the possible break area around 1.51 area.
If the market will manage to break and close above the 4h structure we can set a nice long order according with our strategy.
You have to be careful and analyze the price action before making the decision. We must think that nobody knows what will happen. I'm just trying to put the odds in my favor. Then the price will do what it has to do. So let's see what happens.
STATUS = Confirmed
CURRENT CONFIDENCE = 53%
TARGET (EXIT) PRICE = 1.512240 NZD
BREAKOUT (ENTRY) PRICE = 1.520870 NZD
DISTANCE TO TARGET PRICE = 0.50% (75.6 pips)
EMERGED ON Jul 08, 04:00 PM (UTC)
CONFIRMED ON Jul 08, 05:05 PM (UTC)
WITH CONFIDENCE LEVEL = 64%
Tickeron AI shows that the Broadening Wedge Descending pattern forms when a pair price makes lower lows...
The fundamentals on the NZD is predicting a weaker NZD as I already mentioned in another analysis. The technicals on the USD/NZD is indicating a trend reversal and we can expect a BULL trend soon. The technicals are currently in perfect position for an immediate buy on market opening should you agree with a possible LONG on this currency pair