NZDUSD is currently testing the bottom of the range top that started in March 2011 and was broken in May 2015.
Weekly closes above .7288 will break the resistance and signal higher levels.
Failure at these levels points to long-term target near .5500.
Good Luck!
The orange arrow points to the NZD/USD returning to the broken trend line within the consolidation pattern and the long term trend line from the July 2014 highs.
NZD/USD is also below the 200 day SMA.
I am going to keep it simple and remain short below these levels.
Good Luck!
NZD appears to be continuing the long term down trend with the rate trading below the 100 day SMA (orange).
The long gray arrows indicate the long term trend direction.
The blue arrow indicates the false break of the trend line and triangle.
The orange arrow indicates the return to and test of the break out point of the triangle.
The dashed trend line is...
NZDUSD remains below the 100 day SMA, which signals weakness.
The disputed 8/24/2015 flash crash low makes it difficult to determine the lower line of the triangle pattern.
If NZDUSD closes above the first doji candle and orange trend line on the daily charts , the ascending triangle will remain in affect.
If NZDUSD closes below the first doji candle and blue...
The disputed 8/24/2015 flash crash low makes it difficult to determine the lower line of the triangle pattern.
If NZDUSD posts a hammer candle on the daily charts, the ascending triangle will remain in affect.
NZDUSD appears the be returning to the support trend line in the ascending triangle pattern.
Bullish long term traders will begin to build positions at these levels with stops below.
The ascending triangle matches the price action in the AUDUSD charts.
A bullish breakout signals a new uptrend.
A bearish breakout signals a a continuation of the down trend...
NZD/USD appears the be returning to the broken long term trend line dating back to July 2014.
Bullish long term traders will begin to build positions at these levels with stops below.
The chart shows the weekly NZD from the post float highs in 2011.
The NZD advanced in a five wave pattern into the 2011 high and now has corrected in a three wave (ABC) pattern near the 61.8% extension of the first down wave.
NZD has broken the latest down trend channel, but we have discussed if it will hold the breakout.
The question is has the NZD ended...
In a previous post, we were looking at a simple falling wedge and channel breakout.
Now it appears there might be two channels and a falling wedge in the formation. NZD/USD is currently testing the first trend line after having touched the second trend line on Friday.
The previous comments are below:
"NZD/USD broke out of a falling wedge pattern and now...
At the present time, sellers remain in control of the gold market as long as price remains below the triangle pattern. We continue to believe the gold market is correcting the entire bull market run from $35 dating to the 1970’s.
Short term, gold prices broke below the 50% retracement level of the bull move from $253 to $1923 and are now retesting former support...
NZD/USD broke out of a falling wedge pattern and now appears to have broken out of the corresponding channel. The rate remains above the 100 SMA. These are bullish indicators for the NZD/USD pair.
As long as these conditions hold, the NZD/USD is bullish and we will remain long.
Good Luck!
