Analysis:
Bearish Confluences
In a downwards trend
Retest of a key level
Fakeout of downwards trendline
1K long position increase for the JPY
12K short position decrease for the JPY
Bullish Confluences
NZD is the 5th strongest major currency whereas the JPY is the 8th strongest major currency
3K short position decrease for the NZD
Stay Safe -...
Analysis:
Bullish Confluences
In an upwards trend
Retest of a key level
50% fib retracement touch
Upwards trendline touch
GBP is the 2nd strongest major currency whereas the NZD is the 5th strongest major currency
25K short position decrease for the GBP
Bearish Confluences
30K long position decrease for the GBP
3K short position decrease for the...
Analysis:
Looking at the charts we can clearly see that price was in an upwards trend. We've seen price form higher highs and higher lows, until recently when we saw this trend change and price started to make a move to the downside. In our opinion price is still in a long term upwards trend, however the short term trend was to the downside, but we are actually...
Analysis:
As we can see from the charts price is clearly in a downwards trend signalling to us that we want to only be shorting this pair to go with the trend. We can confirm that price is in a downwards trend by the fact that we're forming lower highs and lower lows and the fact that we have a downwards trendline which has been respected multiple times. Price...
Analysis:
We took a trade on this pair the other day but we ended up getting stopped out due to the bearish news that came out for the USD however we're going to take another shot at NZDUSD. We are still bearish on this pair because we're still in a downwards trend. We haven't formed a higher high yet which confirms that we're still in a downwards trend. Price...
Analysis:
From the charts we're clearly able to tell that price is in a downwards trend, showing us that we want to be shorting this pair only. Last week we saw a break of this key level and we're now seeing that same level get retested for resistance and there is a good chance that this area will hold. For added confluence we have a long term downwards trendline...
NZDJPY SHORT
Wait for certain conditions before a possible entry:
- Congestion
- Short Candle formations
- Fundamentals to continue being in favor for a short
News Outlook:
JPY
- "Japan's economy grew faster than estimated in Q4"
- "Japan's household spending rises 2.0% in January, up for second month"
NZD
- "NZ trade deficit hits $791m in Jan -...
Good morning GBP/NZD, time to rise and shine :)
My case for a strong bullish reversal on this Extremely Valuable Pair {EVP} is due to the fact that: (1) It has completed a multi-month Harmonic Wave Formation and (2) the GBP/NZD is positively correlated with FX:AUDNZD and that pair is trending very aggressively into a multi-year bullish uptrend due to both...
