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Kiwidollar

NZD/USD reaches 0.7292Daily outlook - NZD/USD reaches 0.7292 As it was expected, beginning of the new week the NZD/USD pair spent in a relatively horizontal and steady movement. Namely, the currency rate managed to climb to the 0.7330 level and then made a rebound a started to gradually slide back to the bottom. The first target, namely, the monthly S1 at 0.7294 it has already reached. As a multiple technical indicators send a strong sell signal, the pair is expected to continue the fall. The next likely goal could be the 0.7258 level and, eventually, the 0.7248 level, as the space between them represents not only an accumulation of take profit and limit orders, but also of the loss trades. Market sentiment support this scenario as well, as 67% of traders are bearish on this currency pair. Finally, 65% of pending orders in the 100-pip range are also set to sell.
by UnknownUnicorn890690
NZD/CHF 1H Chart: Channel UpNZD/CHF 1H Chart: Channel Up The New Zealand Dollar is trading against the Swiss Franc in a two day long ascending channel. Formation of the pattern represents a rebound of the currency exchange rate from the bottom trend-line of a preceding descending channel. By the moment, the channel consists of four confirmation points, which means that it has already reached maturity. Basically, the pattern might cease to exist already by the end of the day. Its vertical and narrow structure makes it very sensitive to various barriers, such as the 200-hour SMA near 0.7115. On an upcoming turn around also point out a number of technical indicators, suggesting the pair is overbought. However, if the rate manages to bypass this resistance level, it will face no other obstacles, including fundamental data releases, up until the monthly PP at 0.7172.
by UnknownUnicorn890690
NZD/USD tries to reach 0.7310Daily outlook - NZD/USD tries to reach 0.7310 The rest of the previous trading session the New Zealand Dollar expectedly spent in a gradual advance against the US Dollar, trying to reach the weekly S2 at 0.7310. At the moment, it still has not reached the target even with the help from a release of information on the US CPI. On the other hand, such slow movement is in line with the general market sentiment, which is only 55% bearish, as well as with the summary of various technical indicators, which projected horizontal movement. It is quite possible that the pair will manage to bypass the above-mentioned resistance and jump towards the 100-hour SMA near 0.7319. If the surge will be stopped at this points, that would be a final evidence of existence of a falling wedge.
by UnknownUnicorn890690
NZD/USD slips to 0.7310Daily outlook - NZD/USD slips to 0.7310 An early hours of Wednesday’s trading session confirmed that the Kiwi was rapidly depreciating against the buck in a flag pattern. For this reason, the currency rate has expectedly bounced off from the weekly S2 at 0.7310. Most probably, the surge would continue at least until the 0.7348 mark. A number of major technical indicators support this assumption, pointing out that the pair is oversold. However, then the rate will have to encounter the 55-hour SMA, which might force it to step down. If this scenario materializes, this might be a sign of formation of a falling wedge. In contrast, if the pair succeeds to pass through it, that will confirm the relevance of the current descending channel. But, generally, the pair is expected to continue to slip to the bottom, as 71% of traders hold short positions.
by UnknownUnicorn890690
NZDUSD Long.. I'm not missing another kiwi pullbackI missed an entry at the blue x having forecast the turning point from red w- x but had to cancel before execution when the wave pattern became too confused (see chart from last week) the price is close to the triggger area already having moved quickly in the Asian session. Their is always a risk factor and in this case it is the current dollar strength, yesterdays aborted USDJPY trade was hinting at strength and the call appears to be correct even if the trade did not work out as expected. NZDUSD has a bullish incomplete sequence at higher degree and does have some catching up to do against the Aussie and the Cad so we feel relatively comfortable especially as the stop values are within more normal bounds ulike the current JPY set ups which have stops of 100+ meaning position size should be much saller than normal.
Long
by WaveRidr
Weekly Perspective (Kiwi)Hey Guys, The kiwi reverses its gains, Having posted a session high near 0.6890 region, the NZD/USD pair ran through some fresh offers and drifted into negative territory for the fifth consecutive session.The pair extended its bearish slide through the course of current trading week and is now headed back to nearly 10-month lows touched in the previous session, despite of the frequent negative sentiment surrounding the greenback.In fact, the key US Dollar Index has now dropped back closer to 5-month lows touched earlier this week and hence, the latest leg of the pair's downfall in the past hour or so could be solely attributed to rising treasury bond yields, which tends to drive flows away from higher-yielding currencies - like the Kiwi. Technical levels to watch : A follow through weakness below yearly lows support near 0.6850 level is likely to get extended towards testing the 0.6800 handle ahead of 0.6775 horizontal support.On the flip side, any recovery attempts beyond the 0.6900 handle, leading to a subsequent move above 0.6920 level, is likely to trigger a short-covering rally even beyond near mid-0.6900s back towards the key 0.70 psychological mark. Note: Everything works with Best money management. Note: Please leave comments for any query. Disclaimer: Trade at your own risk. Good Luck...!! Regards, Growing Forex Team
Long
by GrowingForex