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Nzdusdbuy

🟢 NZDUSD 🟢 LONG - Local on 24.081-hour Chart - NZDUSD FX:NZDUSD OANDA:NZDUSD SAXO:NZDUSD Following a local upward impulse, there is a liquidity accumulation for an upcoming long movement. Today, I anticipate the removal of PDH (Previous Day's High). ... If you liked the idea, hit the "Rocket" 🚀 (👇) – it would greatly motivate me. This will provide me with additional encouragement to continue sharing my market insights. Subscribe ↗️ to stay updated on new ideas.
Long
by SHIFU_
NZDUSD - The USD Will Continue To Fall!Analysis: Upwards trend (bullish confluence factor) Retest of an old support level (bullish confluence factor) 61.8% fib retracement level (bullish confluence factor) Upwards trendline touch (bullish confluence factor) NZD is the 5th strongest major currency whereas the USD is the 3rd strongest major currency (bearish confluence factor) 2K short position increase for the NZD (bearish confluence factor) 8K short position increase for the USD (bullish confluence factor) Comments: Despite the strength of the US, the USD has been pretty bearish for a while now and it looks as if this could continue. We're pulling back into a strong area which we expect to hold as resistance for the DXY, meaning that we could then see a continuation to the downside which in turn would favour our idea on NZDUSD. Whilst we don't have all of the confluences pointing to bullishness, we still have the majority showing bullish signs. With the confluences we have on NZDUSD along with the technicals we have on the DXY we expect to see the USD continue its bearish move to the downside, pushing price higher on NZDUSD. This is what gives us our bullish bias. Stay Safe - The JPI Team Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We any comments at all so thank you! Disclaimer: This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Long
by jpeacockfx
16
Market Over-Reacts? NZD tanks more than 2% The New Zealand dollar experienced a significant drop of over 2% on Wednesday, reaching its lowest level in more than three months at $0.6039. This decline followed the Reserve Bank of New Zealand's (RBNZ) expected decision to raise cash rates by 25 basis points to 5.5%. However, the central bank also hinted that it might conclude its tightening campaign, which likely contributed to the currency's decline. In more positive news, inflation expectations eased during the first quarter, dropping from 3.30% to 2.79%, potentially solidifying the RBNZ's choice to halt further rate hikes. Analyzing the 1-hour chart of the NZD/USD pair, it is evident that it broke below the previous swing low at 0.6111. However, the selling momentum may have started to weaken in the past hour, as indicated by the extreme oversold condition of the Relative Strength Index (RSI) and the pair's inability to close below 0.6100. The next target for a downward movement could be 0.6092, which seems to be the level where current sellers feel comfortable probing further. One potential explanation for this slowdown could be the release of the latest Federal Open Market Committee (FOMC) minutes. The minutes revealed a division among Federal Reserve officials during their previous meeting regarding the future direction of interest rates. Some members believed that further rate increases were necessary, while others anticipated a slowdown in economic growth that would negate the need for additional tightening measures. As a result, the committee decided to remove the phrase "additional policy firming may be appropriate" from its post-meeting statement. Market expectations currently indicate that the rate increase in May will be the final one in the current cycle. Furthermore, there is speculation that the Federal Reserve may reduce rates by approximately a quarter percentage point before the year's end. If this prediction holds true, it could be argued that the sharp decline in the New Zealand dollar is an overreaction.
by BlackBull_Markets
NZD/USD to remain bid ahead of tomorrow's RBNZ meeting?There are a growing number of calls for the RBNZ to deliver a hawkish 25bp hike tomorrow, due to the government's 'inflationary' budget delivered last week. This could also potentially result in the RBNZ upgrading their terminal rate in their quarterly forecasts. NZDUSD is consolidating on the 4-hour chart, having found support above the 200-day EMA. RSI (14) is above 50 and confirming the initial stages of this assumed trend, and OBV (on balance volume) has broken to new cycle highs to suggest underlying bullish pressure. We've identified around the monthly R1 pivot ~0.6340 for an initial upside target, and the near-term bias remains bullish above the 200-day EMA.
Long
by CityIndex