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...
Again, im waiting for price to cleanly break support then we can sell to the target area
We can see price has tested this area several times and been rejected but I anticipate the next break should be the sell signal
After a tremendous uptrend we have seen a trend reversal or retracement. We should continue to see that next week and we are aiming to take profit at 0.382 fib and 0.5 fib level respectively. From there we should carefully see the direction of this pair before deciding furhter.
Let me know your thoughts.
Trade safe and good luck.
The GBPNZD chart has had 3 tests of bouncing off the 50 EMA on the 15M timeframe, confirmed by hourly timeframe. Go short on 4th bounce, Current NZD strength will drive the pair down to take a profit at 48 pips below (based on 1:2 R:R). Set stop loss of at least 24 pips - previous price action suggests a moderate buffer is necessary.
Price is creating lower highs.
I love studying this pair. Text book set ups. You can really learn a lot with a bit of patience and study time.
Trades for educational purposes only.
You're in control.
You've got this!
The 'kiwi' (NZD) is approaching a key fib level on the Daily time frame, is a sell coming?
I enjoy studying this pair because of it's clean (obvious) moves in the market.
With some advice from my friend 'Fibo' I am looking out for signs that price is going to reverse as it approaches that 61.8 fib level.
Signs of reversal to look out for? Why I'm glad that...
Following dovish remarks coming out of the RBNZ (Reserve Bank of New Zealand) and the MMAR Indicator that I use (Madrid Moving Average Ribbon) turning distinctly BEARISH , a SELL NZD/USD is on the horizon.
A look at the MMAR on the H1 chart sees an ever tightening squeeze of the MA's and this will lead to a break out either north or south.
From the look of the...
So price has been in an ascending channel on the 4h timeframe since the 26th of March and the trend has been gradually reversing as you can see we’ve been getting higher highs and lower lows but as the channel ascended even more these highs and lows have been inconsistent and we are now seeing lower lows and lower highs this is an indication of a changing trend...