Interesting situation. Nice fibo confluence , channel support, PA support. But there is also this nasty bearish engulfing formation, ofc long signal is much stronger than possible breakout but you never really know :). For now I dont see any good entry point but its for sure worth looking for. I suggest to sit tight and wait for good price action signal.
We can see here, that the price is jumping off the bottom of both the linear regression, the BBand and strong support at about 1.93453. This to me is a clear retrace and reverse signal. From my analysis of fundamental analysis, the GBP is way over sold, and the political instability will not continue for too much longer. The one head wind this pair faces in the...
Failure of the Kiwi to retake above the 0.7700 level keeps the Bearish tone alive and well. A break this week below the T-Line from the 0.7191 low is likely going to see the pair retest the bottom of its range at 0.7191. Only above 0.7700 puts the Bulls in the driving seat.
Friday saw the pair challenge T-Line Resistance and 78.6% Fib of smaller degree swing and got HEAVILY rejected thus forming a Key outside bar reversal on the daily chart. This is a ominous bearish sign. Aggressive traders have every justification to initiate short positions with a great R/R ratio. More conservative traders can wait for a successful break below...
After breaking through the 1.05 support level on the daily Chart, price came up to retest it and found resistance. It was also met with a bearish slap by the 50EMA line and the 0.382 Fib Retracement level. At this point a nice doji reversal candlestick formed and overall price is making the long way down after a triple top formed between September and November of...
So i know most traders have posted their analysis on this pair throughout the last week or two so i thought id throw up my own. I got in just under the 0.75 even handle after the break and retest of the double top neckline , I could of got a better entry if i entered on the break and retest of the CTL which also created the Double Top but to be honest i missed...
There is a strong downtrend in this pair, and I consider it highly probable to see a new move down, completing the 1.618 extension of the last swing, which also matches an AB=CD proportion from the first swing down to the mode of the downtrend (most frequent price or accepted 'fair' value, based on Tim West's approach). The signal is clear so I will set my orders...
It's been a very slow week for me, but luckily Jason is picking up the slack. Going into Friday's Job Report I have no intention of entering any new positions aside from this potential bullish bat pattern on the Kiwi. NZDUSD is in a very interesting position as our HTF trend has bounced off previous structure resistance, yet our LTF trend has recently created a...
GBPNZD has been working its way into a descending triangle for a while and should be coming to the end of it now. Descending triangles at the end of big extended rallies usually lead to a collapse in prices. We should a rally soon. Hopefully to the top of the triangle so we can get more pips as it breaks the overly tested area @ ~2.03400. The supply zone @...
I have a number of NZD longs currently in play (vs CAD and GBP) and this trade is an offset to that somewhat heavy exposure. Opened a long position at trendline support and the .764 fibonacci level @ 1.5035. Daily wick is looking good (currently) at forming a very positive hammer candle. I'm hoping for a 2-3 week trade into trendline resistance and confluence...
A lot of traders have taken interest in the AUDNZD cross since 2014 as prices have reached a level around 1.04/05 that's held firm since 1979. While we may see another bounce off 1.035 in the coming days, recent price action suggests a risk of diving further towards multi-year lows before a true bottom can take shape. Looking at a monthly chart over the past 16...
I've got to run soon so I'm not sure if I'll be able to catch this or not. But for those looking for the next place to short Kiwi this area looks as good as any. Harmonic move, fib extension, multiple fib retracements and of course structure to hide stops above. If it's still a potential trade by the time I return I'll keep you guys updated on what 'd be looking...
Historical price action has been quite consistent and I see no reason otherwise for this to change at this time. Upside break of the weekly triangle should result in a re-test of resistance now turned support in which to initiate longs. I have longs at 0.8888 and at the aforementioned 0.9150 with a potential target of 0.9840. In both previous cases a nice 700 pip...
Recent Dollar strength has almost seem to have converted many (may be majority) , that is could not even make minor retracement and hence many analysts have started to publish or express views that all USD pairs along with Kiwi are destined to fall out of bed with Kiwi to levels like 0.7 and lower. These views are understandable. When caught in strong trends it...
Based on the fundamental facts that the RBNZ need a cheaper Kiwi to improve their economy. That and concern over the dairy trade will bring the Kiwi lower. In regards to the technicals, according to the ABCD Fibonacci extension there is further downside to be seen. This geometrical pattern was structured using the weekly pivot high as A (0.8840), weekly pivot low...
The Kiwi Dollar is struggling with the 2.618 fib retrace drawn from July's price action ( .7857). This is a very strong level which will decide if this pair will continue much further to the bearish side reaching the fib level of 5.0 or will attemp a retrace back into the area of 0.8184 or even further of .8370. Watch the Least Square Moving Averages which are...
We have a potential Bat or Gartley setup on the technical side. I believe employment is on the Aussie agenda with unemployment set to increase slightly. There is no good news out of the land of Oz. That coupled with technicals, it is South I am afraid...