NZDUSD is approaching our first resistance at 0.7304 (horizontal overlap resistance, 76.4% Fibonacci retracement, 100% Fibonacci extension) which coincides with our long term descending resistance line. A strong reaction might occur at this level pushing price down to our major support at 0.7230 (50% Fibonacci retracement, horizontal swing low support). A breakout...
NZDUSD is approaching our first support at 0.7260 (horizontal overlap support, 23.6% Fibonacci retracement, breakout level). A strong bounce might occur at this level, pushing price up to our major resistance at 0.7323 (100% Fibonacci extension, horizontal overlap resistance, 78.6% Fibonacci retracement). A breakout of our intermediate resistance level at 0.7279...
NzdUsd - H4 I prefer shorts on current levels due to technicals and market sentiment which favours a stronger dollar at current levels. Major trend is still down for dollar so this would be considered a counter-trend trade
USD INDEX- The USD has scope for consolidation and possibly a mild correction to the downside as we hit the 161.8% extension level of 90.24 (from 88.25-89.48). With this in mind, we only look to buy USD dips this morning
The selloff looks underway for NZDUSD but we have the reverse view and look to sell into rallies
Monthly: Trading in a congestion zone. This...
here we are on the hourly chart on NZDUSD. As you might imagine, i'm looking to short this market at the blue line, because i think we could be heading lower in the nearest future. The yellow box on the background signals a resistance area of the daily timeframe and here i went down on a lower timeframe to seek for sell signals: in this case you can see...
Could be seeing a bear flag which I would look too short on a break and close below channel support. Alternatively we could be seeing a slow move up to retest the long-term trend line which was broken earlier this month at which point again I will be looking to short. Either way a key level of 0.68269 will be my target as a significant supply/demand level.
Daily resistance level & 61.8 Daily Fib Level has been hit and the market has rejected the resistance zone.
Price has now started to move lower and broken out of the consolidation area. Looking for price to pullback to minor resistance for a short opportunity.
if you want to find out why am i looking to short this market, you can go ahead and watch my weekly videoanalysis (by clicking the link down below). Basically we see price is being rejected at a key structure zone and therefore we can utilize this technique in order to catch a bigger move toward the daily lows (second target).
If you have...
i'm not taking this trade for correlation-reasons but for educational purpose i think it represents a nice opportunity of a structure trade. You can see price has now reached a key structure point on the daily chart, and while testing this zone it has created a double bottom with RSI divergence on lower timeframes (1h). Given the overall analysis it...
1.Daily support in control
2.Support valid Resistance broken
3.Profit margin 1:2 (could hold if there any sign of reversal
4.No major support until 0.71000
5.Breach of top Bollinger band on lower timeframe