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...
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.
Although we did see a break of the consolidation area marked in blue, we are now facing a key structure level marked red. Before you consider any buys it would be best to wait for a break and a re-test of the structure as illustrated.
IG Client Sentiment - 64% short
COT Data Source - 61% short
We have the weekly failing to close below key level or previous structure, a big indecision candle on the daily timeframe. It’s all in the air for this pair, we need it to tell us clearly what I wants to do next. It’s squeezing in on its self and the true next move could be revealed to us as early as market open tonight.
According to COT Data Source - 59% Short
I am interested in longs on this pair as I now expect some severe dollar weakness after looking at the DXY. I have illustrated how I look to trade this pair if it manages to break above this structure. If price breaks below the key level the NZD bear run continues and im not interested.
After Friday's daily candle closed as a bearish engulfing candlestick we are very interested in the possibility of aggressive selling opportunities. I would like to see a pullback into the previous structure before placing a sell for a maximum risk to reward trade but It is rare to see this happen nowadays with the current market conditions. I have illustrated the...
This pair is extremely indecisive when you view it from the 4-hour timeframe, It has been caught between a range and has produced not 1 but 2 fake breakouts indicating that the next move is uncertain. I will be avoiding this pair until it becomes clear what the market wants to do next as range trading does not fit into my trading plan.
I personally think this pair stuck within an indecision zone, trapped between two key structure zones that are marked. I will be waiting patiently to see a breakout from here as illustrated, until then I will be avoiding this pair.
Although this pair has broken out of a significant ascending trendline we can't dismiss that it is still cant within a range. We must be patient and allow it to show us clearly what it would like to do next, I will be looking for something similar to what I have illustrated before I consider a trade on this pair.
Looking to me like it could be a strong week for...
Since 19th March 2020 when the price hit .5462 , the New Zealand Dollar has pushed impressively higher largely on the back of dollar weakness and currently stands at .6575.
Price has even pushed through the strong historical resistance at .6581 but the move looks ever more unconvincing and having now reached the green upper flag which has held the price, the big...