As you can see price is coming into a very interesting zone on this pair. Price is currently respecting a strong previous support but the pair is inside a bigger descending triangle wedge formation.. A break of the current support 140.974 will bring us back into October and Novembers trading range and also to my zone of interest marked via the blue box... I think...
As we can see on the higher timeframe charts NZDUSD has been in a long term downtrend from early 2018.
We e now seen price create this cup & handle pattern coupled with a break and retest of the descending trendline and also found a previous level of support price has rejected and reversed from on multiple occasions.. (more visable on the weekly tf)
Looking at the level 1562.08 on the 4H and weekly charts.. if we see price close on this level tonight we form a dragonfly doji... possible sign of a Bearish reversal.. Also if we look on the 4H chart we can see a close on this level would give us a double top... this is just an idea I decided to share and not a signal too short...
As we can see Gold over the Xmas period had a bullish run, I expect too see gold kiss 1517 and then have a pull back to around the 1480.50 handle once last time before going on too make new higher highs.
I’ve currently entered a sell limit entry at the 1517.00 spot with a Sl at 1518.90 and a TP of around 1480.50
As we can see price has multiple touches of the S&R since the beginning of November and failed to break. I’m shorting this pair back down to the 0.618 fib retracement level which lies smack bang on the ascending trendline. TP level around the 0.90340 handle
After a very bullish run the past few weeks Nzd had hit a strong resistance zone. It’s currently being rejected here and is in consolidation.. I’m expecting some kind of pullback to the ascending trendline around the 71.500 handle (75pips)
This week we saw GBP erase all recent election gains on the fear of a possible no deal Brexit. A no deal Brexit is damaging for the European and UK economy and both parties will try and avoid at all costs... reaching a deal a is beneficial to both economies .
I’m almost certain a deal will be reached and there won’t be a hard Brexit
Loading up on longs here...
This is a pair I will be keeping my eyes on
Waiting for a break and a retest of the S&R zone before placing a longer term swing trade and holding back upto the 180.00 handle
I will update the chart when I have further confirmation and a entry price in mind
NZD was very bullish last week and I expect some exhaustion and some bearish downside momentum this week
As you can see price respecting the descending trendline, and a bearish pin bar closing on Friday.
Will wait for markets to open and further confirmation before entering
Currently shorted this from resistance and holding until we see a touch of the ascending trendline... I will then see if it respects the trendline, in which I will then long back up to the resistance zone around 150pip move.
Another scenario is a break and a retest of the ascending trendline in which I would then look at shorting this pair back down too support.
Price has just spiked up and broke through the he descending trendline after the US Fomc and data statistics. I will wait too see if price breaks back into the descending trendline to confirm a fakeout. Other added confluences to back up a short are descending trendline smack bang on the 68 fib and also a head and shoulder pattern.