While the price is below the resistance 0.6790, beginning of downtrend is expected.
We make sure when the support at 0.6585 breaks.
If the resistance at 0.6790 is broken, the short-term forecast -beginning of downtrend- will be invalid.
While the RSI uptrend #1 is not broken, bullish wave in price...
as you can see price reached a strong weekly resistance wich you can have a better look in weekly TF .
RSI shows us a good divergence wich signaling end of current bullish trend.
There is a possible double top structure wich confirm only when its neck line breaks.
So our targets are : 0.66200 , 0.64400 (if price closes under neckline) and lasts target is about...
At present, NZDUSD following a price channel pattern strategy. In the above chart, it has created three major parallel channels A , B , & C .
Pay attention to the parallel channel C. It is creating a new downtrend for a short period. Now, the New Zealand Dollar / U.S. Dollar can fall to the following levels:
Target Price 1: 0.67100
Target Price 2:...
For the moment it is crucial to stay patient to see how the dollar, as well as the NZD, will react to the market open. I have illustrated the next potential move for NZDUSD, for the moment price looks like it's stuck and consolidating, if the price breaks out of the trend line and starts to trade below the key level marked, I will consider changing my bias to...
NZDUSD now at a support level and a break below the swing-low at 0.66016 potentially can drag the pair down below the bearish wedge, however, price rejection between 0.66016 & 0.66516 could cause the currency pair to rally up to re-test it recent swing high at 0.67890.
- Let emotions and sentiments work for you
-ALWAYS Use Proper Risk Management In Your Trades
If we look closely into this pair we can see that a structural shift is taking place after the small descending trend line was broken. I will be monitoring how price holds in and around this area on the 15M time frame before considering any buys. It is also essential that you monitor the DXY before taking any pairs in conjunction with the dollar.
We can see that price has fallen out of this ascending TL and has officially made a lower low.
Looking to sell this pair if we get to an area of interest which is at the 50/61.8 fib levels as if we look left we can see these levels have held as structure previously and we will then be interacting with the 50EMA. Would need a confirmation candlestick before...
There looks like there is a lot going on in this chart, ok so let me break it down for you.
With correlation to my DXY weakness bias this pair is screaming for a move higher, technical are also on point.
I took a long from the Breakout of the recent descending TL and bagged 5%, since then we have seen price push up higher however it is now very corrective and at...
NZDUSD - sell position now valid.
The entry price, SL and multiple TPs are shown on the chart.
Our back testing and money management strategy itself is holding until a reverse signal to ride a big trend, but as you will not see the next signal - manage the trade as you wish should you decide to enter.
What is our strategy?
Our strategy is a trend...
Price has pulled back significantly into the previous daily resistance zone, It is likely to see rejections from this region, if we don't see any signs of rejection and the price manages to break below the key level marked we can look for potential selling opportunities from the re-test of structure.
According to COT data source - 57% short
We managed to break out of the ranging market on the 15M and surpass the key monthly level marked. I would like to see price pullback and show signs of rejection before placing my long position. if we see price break through the range completly then we will see a whole new structure shift and we can then be looking for selling opportunities.