A possible expanding triangle setup on the 4hour of the NZD. Assuming the US Dollar continues with strength we could possibly see a D wave to around 0.60470 for NZD.
Wave A represents 38.2% of the last downtrend wave in expanding triangle.
Wave B represents 1.272% of wave A in expanding triangle.
Wave C represents 1.272% of wave B in expanding triangle.
Wave D...
As the year draws to a close, it's an opportune time to evaluate the potential trajectory of the dollar going forward.
From a broader perspective, we anticipate a regime shift for the dollar in 2024, potentially marking significant turning points for the major dollar pairs. Notably, since the 1990s, each instance when real rates crossed the 1% threshold, the...
Financial Losses: Trading in the Forex market carries the risk of financial loss. It's important to carefully assess your financial situation and only invest funds that you can afford to lose without affecting your lifestyle or essential financial obligations.
NASDAQ:NZD futures retracted to 618 and looks as if it will make a long slide down.
Daily support level 0.60100 🎯
Safe to short NASDAQ:NZD currency pairs this week.
The last COT index signal was bearish. The saisonality show a strong bearish trend for the next weeks. Addtionally, the price was rejecte twice in the red resistane box. Next support expected at 0.62.
SL: 0.6601
Target 1: 0.62
Target 2: ~0.58 (suppot by red trendline)
RR (Target 2): 1.7
Type : Bearish Drop
Resistance :0.61615
Pivot: 0.60565
Support : 0.60050
Preferred Case: On the H4, with price moving below descending trendline and ichimoku indicator, we have a bearish bias that the price may drop from the pivot at 0.60565, where the current price is to the 1st support at 0.60050, where the 78.6% fibonacci projection is.
Alternative scenario:...
Type : Bearish Drop
Resistance :0.61615
Pivot: 0.60565
Support : 0.60050
Preferred Case: On the H4, with price moving below descending trendline and ichimoku indicator, we have a bearish bias that the price may drop from the pivot at 0.60565, where the current price is to the 1st support at 0.60050, where the 78.6% fibonacci projection is.
Alternative scenario:...
Type : Bearish Drop
Resistance :0.61615
Pivot: 0.60565
Support : 0.60050
Preferred Case: On the H4, with price moving below descending trendline and ichimoku indicator, we have a bearish bias that the price may drop from the pivot at 0.60565, where the current price is to the 1st support at 0.60050, where the 78.6% fibonacci projection is.
Alternative...
Type : Bullish Rise
Resistance : 0.63840
Pivot: 0.63205
Support : 0.62485
Preferred Case: On the H4, with prices moving within an ascending channel and above the ichimoku indicator, we have a bullish bias that price will rise to the pivot at 0.63205 where the swing high resistance, 127.2% fibonacci extension and 78.6% fibonacci retracement are. Once there is...
Type : Bullish Rise
Resistance : 0.63185
Pivot: 0.62470
Support : 0.61850
Preferred Case: On the H4, with prices moving within an ascending channel and above the ichimoku indicator, we have a bullish bias that price will rise from the pivot at 0.62470 where the overlap support is to the 1st resistance at 0.63185 where the swing high resistance, 78.6% fibonacci...
Type : Bullish Rise
Resistance : 0.63185
Pivot: 0.62470
Support : 0.61850
Preferred Case: On the H4, with prices moving within an ascending channel and above the ichimoku indicator, we have a bullish bias that price will rise from the pivot at 0.62470 where the overlap support is to the 1st resistance at 0.63185 where the swing high resistance, 78.6% fibonacci...
Type : Bullish Rise
Resistance : 0.63185
Pivot: 0.62505
Support : 0.61850
Preferred Case: On the H4, with prices moving within an ascending channel and above the ichimoku indicator, we have a bullish bias that price will rise to the pivot at 0.62505 where the overlap resistance is. Once there is upside confirmation that price has broken the pivot , we would...
Type : Bullish Rise
Resistance : 0.63185
Pivot: 0.62505
Support : 0.61850
Preferred Case: On the H4, with prices moving within an ascending channel and above the ichimoku indicator, we have a bullish bias that price will rise to the pivot at 0.62505 where the overlap resistance is. Once there is upside confirmation that price has broken the pivot , we would...
Type : Bearish Momentum
Resistance : 0.62475
Pivot: 0.61855
Support : 0.61190
Preferred Case: On the H1, with price moving below the ichimoku cloud and within the descending channel , we have a bearish bias that price will rise and drop from the pivot at 0.61855 in line with the pullback resistance, 78.6% fibonacci projection , 61.8% fibonacci projection and 50%...
