NZDUSD broke and closed below a key daily horizontal structure support,
setting a new lower low lower close.
It is an important bearish signal that opens a potential for a further bearish continuation.
Next support - 0.588
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As I predicted, NZDUSD dropped heavily after the release of Retail Sales
data on Monday.
Analysing a price action today, I see that the pair became heavily oversold.
The price formed a falling wedge pattern and a narrow horizontal range within.
Bullish violation of the resistances of the wedge and the range indicate a highly
probable coming...
Preferred direction: BUY
Comment: WThe buy-priority remains the same for the New Zealand dollar. Previously, we looked at a medium-term long trade, which is in progress and is in the accumulation stage.
If we talk about short-term prospects, we can consider the two scenarios shown on the chart. There is a high probability that the buyer will strengthen at...
Esteemed analysts and traders,
I hope this correspondence finds you in good health and high spirits, prepared to tackle the upcoming week with renewed energy. I extend my best wishes for your continued success in all your business endeavors. It is worth noting that success in trading is largely dependent on the consistent definition and adherence to one's own...
Price is rising towards a resistance level which is a pullback resistance that aligns with the 50% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 0.59686
Why we like it:
There is a pullback resistance level which aligns with the 50% Fibonacci retracement
Stop loss: 0.60084
Why we like it:
There is a pullback resistance level...
The price is rising into a resistance level, which is a pullback resistance that aligns with the 38.2% Fibonacci retracement; it could reverse from this level to our take profit target.
Entry: 0.59405
Why we like it:
There is a pullback resistance level which aligns with the 38.2% Fibonacci retracement.
Stop loss: 0.59723
Why we like it:
There is a pullback...
As explained in detail in the free weekly outlooks , check it out for the complete picture!
D1 buying to trade the C up, looking for buy setups on the lower timeframes against the invalidation point 1st targeting the 100fib.
Good luck and trade safe!
Thanks for taking a look and if you like this idea hit the thumbs up to show your appreciation for this free...
NZD/USD has been in an uptrend on the 1D timeframe.
Waiting to see what the price does around the 0.59000 level and if it respects the trend line.
If not, we can wait for a break and retest below the level.
One more pair that looks very bearish to me after news is NZDUSD.
I see a confirmed bearish breakout of a support line of a horizontal
trading range on an hourly time frame.
I think that a bearish trend on the pair will continue.
Initial target 0.59
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Waiting for a retest of 0.69660 to short NZDUSD back to 4H swing low at0.58656
If you agree drop a like and if you have any questions leave a comment :)
NZD/USD has just bounced off the buy entry, which is at an overlap support level, and could potentially rise to our take profit target.
Entry: 0.58708
Why we like it:
There is an overlap support level
Stop loss: 0.58013
Why we like it:
There is a pullback support level
Take profit: 0.59462
Why we like it:
There is an overlap resistance level which aligns with...
Title: "NZD/USD Analysis: Navigating Bearish Trends with Potential for Momentum Shift"
In the realm of NZD/USD trading, bearish sentiments continue to hold sway, painting a dominant picture in the market. However, amidst this prevailing bearish landscape, there are glimpses of hope emerging for potential bullish prospects on the horizon.
Zooming in on the...
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Based on the H4 chart analysis, we can see that the price has just reacted off our sell entry at 0.5995, which is an overlap resistance level
Our take profit will be at 0.5958, an overlap support level.
The stop loss will be placed at 0.6042, which is a pullback resistance level.
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