NZDUSD | Perspective for the new week | Follow-upPrice continues to play out in accordance with expectations as it moved over 300pips in our direction since my last publication (see link below for reference purposes). As the majority foretell a risk of further decline in the Kiwi in the coming week(s), I beg to take the opposite direction and maintain a Bullish bias on this pair.
Tendency: Uptrend ( Bullish )
Structure: Breakout | Supply & Demand | Harmonic (AB = CD) pattern
Observation: i. In the last 13 weeks, Buyers have found a niche around NZ$0.71000/0.70500 hereby making this area a strong Demand level.
ii. We have experienced a sharp decline in price in the last two weeks after the Kiwi hit a peak of NZ$0.74650 in late Feb. 2021.
iii. At this juncture in the market, it is impossible to ignore the pattern the decline has formed on its way down to the Demand zone - a Harmonic (AB = CD) structure.
iv. ABCD pattern with parameters explained below;
a. Leg A-to-B appears to be in harmony with the C-to-D leg.
b. The B- to-C leg falls at 38.2% Fibonacci retracement of the A-to-B leg.
c. The C-to-D leg is expected to fall within 127.2 - 1.414% Fib. ext. of the A-to-B move @ NZ$0.71000/0.70500 area.
iv. Considering the stronghold of NZ$0.71000/0.70500 area by buyers in the past, the AB = CD pattern makes a "good" reversal set-up at this juncture in the market as I anticipate a Breakout/Retest of my Key level @ NZ$0.71850 to join the rally (any area above Demand area is good for me).
v. If the price moves as expected and reaches the Supply zone, It is advisable to lock in profit to avoid getting caught up with selling pressure and note that a further Breakout of NZ$0.73000 might confirm a rally continuation.
Trading plan: BUY confirmation with a minimum potential profit of 150 pips.
Risk/Reward : 1:3
Potential Duration: 4 to 10days
NB: This speculation might be considered to make individual decisions on the lower timeframe.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Nzdusdsignal
NzdUsd to maintain its range?In the past month and a half, NzdUsd traded in a range between 0.7250 and 0.7100 (ignoring the short-lived spike above 0.7250 at the beginning of the year)
With DXY looking ready for a new leg up I expect Kiwi to also roll back to at least the bottom of the range at 0.71.
Also a sell trade with this target can have a great R:R of more than 1:2
A daily close above 0.7250 would negate this scenario
NZDUSD | Perspective for the new weekWe did not get to see a rejection of our neckline in my last publication (see link below for reference purposes) as the price continues to find new highs. Since the beginning of the year 2021; price has consistently been dominant above the Key level with tendencies of finding new highs as price breaks out of Bearish trendline.
Tendency: Uptrend ( Bullish )
Structure: Trendline | Breakout | Supply & Demand
Observation: i. A successful Breakout of Trendline (20th Jan 2021) followed by a rejection of this line 8 days after is a sign that we might be on to experience a temporary/permanent rally soon.
ii. The rejection of Bearish trendline shall be a yardstick to look for buying opportunity in the coming week.
Trading plan: BUY confirmation with a minimum potential profit of 150 pips.
Risk/Reward : 1:3
Potential Duration: 2 to 6 days
NB: This speculation can be considered to make decisions on lower timeframes.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
NZDUSD | Perspective for the new weekIt is fascinating to see how the Key level @ $0.71600 appears to be a decision-maker for traders in the last 30days as Breakdown/Breakout of this level points at the prevailing direction of the price. Looking beyond this... We are now at a juncture in the market where the chart formation that predicts a bullish-to-bearish trend reversal becomes a unique tool for us to make a trading decision.
On the chart is a baseline with three peaks, with the outside two close in height and the middle is highest (Head and Shoulder).
Tendency: Downtrend ( Bearish )
Structure: Reversal pattern (H & S) | Breakdown | Supply & Demand
Observation: i. After making a peak @ $0.73100, Price have continue to risk further decline as it keeps finding Lower Lows.
ii. A significant breakdown of my Key Level @ $0.71600 (Neckline) last week confirms the completion of a Head and Shoulder pattern.
iii. My attention in the coming week shall be shifted to Selling opportunities and the Neckline area shall be the risk limit.
Trading plan: SELL confirmation with a minimum potential profit of 200 pips.
Risk/Reward : 1:5
Potential Duration: 5 to 10 days
NB: This speculation can be considered to make decisions on lower timeframes.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Is NzdUsd carving the right shoulder?In my previous analysis, I said that I expect NzdUsd to have found a medium-term top above 0.73 and the pair dropped from that zone. More, Kiwi also has broken under the channel's support and, at this point, we can consider the top confirmed.
Yesterday the 0.7150 zone offered support and the pair had a new attempt to reconquer 0.72.
At this point 0.7240 is resistance and a new leg down could follow.
Also, a drop under 0.7150 would confirm a H&S pattern and the target for sellers can be 0.7 important support
[NZDUSD] Wait for break of UptrendNZDUSD has been overextended to the upside for weeks, only looking for short opportunity at the retest if uptrend is broken. Otherwise, it could easily continue its next impulse to the upside
Please Share and Like if you agree!
Disclaimer: this is only for informational purpose, not any form of trading advice ;)
NzdUsd- Top in place?The last days of 2020 and the beginning of 2021 found NzdUsd in a strong bullish mood, with the pair gaining almost 5% in a very short time.
This new leg up looks exhausted and prices above 0.73 attract sellers like a magnet.
I believe a correction is just around the corner and, in my opinion, rallies towards 0.73 should be sold.
My target for such a trade is 0.7150 and even in a new high scenario I don't see much room to the upside for Kiwi
NZDUSD – Will NZD bull finally giveup?I have been bearish on NZD pairs since quite long. However, every time we got rejected the pairs quickly came back up to since this pair has a good correlation with US stock and seems like the FED won’t give up keep pumping it.
Eventhough, I still prefer to trade based on technical view and ignore all the fundamental distraction. I have complete faith that sooner or later the price will always go back to its technical side.
Now the price has once again reach the top of structure impulsively. In 15M TF, we already got a little rejection followed by what appear to looks like a bearish continuation flag structure. I set a stop order here at the break of this flag structure with SL above the flag.
Lets see how far will this pair go this time. Good Luck
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Here is the MOA FX technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the MOA Fx strategy will trigger.
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NZDUSD BEARISH TRADE ANALYSISNZDUSD has completed a five-wave impulse move on the higher degree and a three-wave correction is expected to follow an impulse move according to the EW principle.
The reversal is already in place as the price is making i-ii, (1)-(2) wave sequence. This kind of structure usually leads to a strong impulse decline in wave (3) of iii.
Trade Plan:
1. Wait for the break of the green line for sell confirmation
2. The trade setup will be invalidated if the price breaches the red line, so we have our Stop Loss there.
Do you want to learn how to spot this kind of setup? Kindly send me a DM.
Best of luck on the chart,
Veejahbee.
NzdUsd- 0.71 is very strong resistanceI'm sure of a lot of you, and I included, was wondering when NzdUsd bull run will end...
And now it can be it.
After the first touch of 0.71 and a drop, Kiwi had a new attempt yesterday to rise above and reversed violently putting in a strong long-tailed reversal candle on our daily chart.
At this moment rallies should be well capped at 0.71 and possible corrections of yesterday's drop could be a good opportunity for bears.
A drop under 0.7 should accelerate losses and 0.68 could be a good place to book profits
NZD/USD skyrockets towards the targetsIt's a daily chart of NZD/USD. From the 19th of March 2020, it started to rise and still moving upward. For an easy understanding of the trend, I have applied the DMI and SuperTrend.
Let's take a look at indicators,
DI+ is above DI- that means the trend will continue to move upside. ADX is greater than 25, which also indicates the upside movement.
Now talking about the trend,
At present, the trend is moving upward, and it's marching towards the targets, which are 0.7160 - 0.7260 . But if the trend crosses the control price and successfully makes consecutive candles, then targets for the fall will be 0.6900 - 0.6800 .