AUD/NZD is gathering attention as the long term support at 1.0500 is tested and we currently are trading below at 1.0460. These levels are very dangerous for shorts as the slightest reason to cover will have sharp moves higher. The trend however is still down and we currently dont have any triggers to start the move higher. In the New Year i expect such triggers...
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...
Kiwi has established a support @7805. Bullish gartley possible completion @7846 and even lower test of channel boundary. Should not violate the channel. Last week net shorts totaled 2384 CFDs, compared to only 100 the previous week. Selling pressure increased .
Quick opportunity, r/r @2.02 bottom downtrend, actually the @t/p could be pushed way ahead of that, still, profit made
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...
Here are some daily supply and demand levels on the aud/nzd.
NZD/USD 60M BULISH CYPHER (LONG)
NZD hasn't been kind to me over the past week; including the rate hike that sent NZD down, I've had three consecutive losses on the NZD that have taken off about 0.75% of my account balance. But I don't want to make the mistake of being caught up emotionally and irrationally by losses, so I'm going long NZD again. Technically, the trend is still bullish for NZD,...
What's the only thing better than a doji? A DOUBLE DOJI! And that is exactly what we might be seeing today on NZDCHF. Traders may recall NZD plunged last week when the RBNZ raised rates on NZD. Now, after price plummeted to a major support level, we are seeing what looks like a double doji. I'll take this as a sign that the bears may be exhausted, and that the...
After Kiwi has been hammered into ground a ret. should occur upon ABCD completion. Again, the PA came so close to 161.8 that I may regard as being reached. This 161.8ext "the golden ratio" should hold and let the PA recover to 38.2 ret. This long should provide some 114 green pips :)
When is a CYPHER not a CYPHER? When it is a SHARK!! :-)
The past few days I've shared my trades that the yen will continue declining in value, and that now was the time to short it. Specifically, I have trades on to go long AUDJPY and CADJPY, and a pending order to go long GBPJPY. And now, I'm adding a long NZDJPY trade to this as well. By now the setup is familiar: the pairs were all trending up, but have recently...
This setup offers everything I like to see: 1. A clear trend -- price is below the 50 SMA and 200 EMA 2. Price is touching the 50 SMA, which is acting as resistance 3. Price has pulled back 50% from the recent swing low to swing high 4. A doji candlestick is in the works on today's candle Four out of four, so I decided to short at 0812 with my stop at 0844. My...
Looks like a nice H & S Setting up on the NZDUSD 1 Hour Time Frame.
After a steep rally into 8685 (tested 2 times) and broke on 3rd time, PA stopped @8735 (tested 2 times that level again) and broke on the 3rd time. NU reached the high @8791 with no strength to break 88. According to previous analogy if a bullish continuation is predicted a ret. to 8735 (perhaps twice again) and break higher on 3rd test of 88. The 3TT rule (3...