Price has pushed right down to a key level from where price reacts on numerous occasions and we have a bullish engulfing candle on the 4h chart suggest a trend reversal. RSI also oversold.
I've gone long on this and marked my tp1 and tp2 for you as well.
Let me know your thoughts.
Trade safe and good luck.
The exchange rate created a rising channel. However, the fractal analysis shows that the MA (200) is a replicating sequence. Therefore, it is advisable to move to a long position at the 0.6600 level. The primary target price is 0.6728
Possible buy incoming for NZDUSD. Price has acted within a parallel trend line channel and has touched the resistance of this trend channel at least 3 times which means the trade can be validated. Price has also been moving around a local resistance zone which means price could be heading up. Keep an eye out for updates as I have put in a tight stop loss of around...
NZDCAD - Daily Fib - Psych - Major Support (NZDUSD Psych) (USDCAD broken out of range and has been in a long downtrend). Looking for NZDUSD to form a W before entering - also waiting for retest on NZDCAD of 0.88
After rejecting the lower trendline by the wick, the New Zealand Dollar gained strength on top of US weakness allowing this impulse to the upside, price seemed to have formed an ascending triangle pattern for continuation towards the top end of this channel.
NzdUsd putting in a nice head and shoulders pattern with divergence and confirmation on the RSI on the 60. We have also recently broken a level on the daily and even though in overall consolidation now we can take this as a shorter term on the pullback or break.
Decent Long opportunity on the NzdUsd with some room to go higher after a few levels of structure being broken, You would want to be wary of the minor zone below the killzone drawn out but a decent opportunity. If we get the pullback I would be looking to buy it up.
Looking at the charts this a LONG buy, keep tracking this over the next three weeks to see of support line is touched.
Will be the lowest the pair has gone in several years, if support line is breached look to buy and adjust SL @TP1
Do not leverage more than 1%of our account on this trade as this is a long term position 1-2 months.
Good luck and stay int he...
We have seen price show continuous bearish momentum on this pair. Price reached a critical point of support before it started it's bullish ascend. i will be looking for price to pullback around the price level where it currently is and retrace at least potentially 50% of the bullish move before price continues to move bullish . I will looking out for bullish...
NZDUSD has been travelling in a descending channel for quite some time now, until last week when it broke out of the channel to the upside, We are expecting price to come back down to retest the channel before making its way up to 0.66800 region.