NZD/USD has been in a consolidation since February and hasn't broke under the 200 EMA or broke it's current support. If the support holds strong we can expect NZD/USD to go further up in the long term. To keep an eye out for this continuation possibility.
It seems that there is a Head&Shoulder building up. keep an eye on it to enter at the right time. trade with care. i do not take responsibility.
NZD/USD has recently completed an inverted head and shoulders formation. It has bounced off the current downtrend line and come back to kiss the neckline of the inverted H&S. Looks like a prime opportunity for a long! What is your view of NZD/USD? Tell me in the comments below!
CURRENCY PAIR: NZDUSD; Time Frame: 1D - 4H - 1H; SHORT OPPORTUNITY. R/R Ratio : 2.6
Short entry in the FX:NZDUSD , trading the resistance zone.
selling after confirmation of the last small swing low, potentially much larger move down with small hickup at 71553
There are some reasons to enter this trade and hold it over the weekends.
NZDUSD is currently the 61.8 Fib retracement on the daily time frame, great opportunity to go short.
Price is now reversing nicely below our major area of resistance from 0.7042 to 0.7084 (38.2% Fibonacci retracement, 100% Fibonacci extension, horizontal overlap resistance). Our next major level of support is at 0.6823 (Fibonacci extension, horizontal swing low support) and our next major level of resistance is at 0.7214 (Fibonacci retracement, horizontal...
At the moment we have NZDUSD following a nice bullish channel, it has broken the daily trendline (dotted) however rejected a resistance level of 0.68961 . I will now be watching to see whether it continues to follow the bullish channel upwards if it falls to the trendline and rejects. If it does reject the trendline and remain bullish I can see it then breaking...
ITS A SHORT TRADE BUT LETS SEE HOW IT GOES. AFTER IT HIT OUR TARGET WE MIGHT SEE A STRONG BEARISH MOVEMENT TOWARDS MY EXTENDED FIBONACCI AREA..
ITS A SHORT TRADE BUT LETS SEE HOW IT GOES. AFTER IT HIT OUR TARGET WE MIGHT SEE A STRONG BEARISH MOVEMENT TOWARDS MY EXTENDED FIBONACCI AREA..
Pending Long @ 0.7000 Stop Loss @ 0.6780 Target @ 0.7603 RR Ratio @ 2.74 Trading involves substantial risk of loss. I'm just providing insight into what trades I'm taking.
Our preference: short position below 0.6915 with targets at 0.6870 & 0.6850 in extension. Alternative scenario: in excess of 0.6915, aim for a continuation of the increase with 0.6950 & 0.6970 in the line of fire. Comment: as long as 0.6915 is resistance, trading range with a bearish bias.
This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits. Please comment below and Like if you agree with my analysis.
Pending Long @ 0.7235 Stop Loss @ 0.7160 Target @ 0.7385 RR Ratio @ 2.0 Trading involves substantial risk of loss. I'm just providing insight into what trades I'm taking.