USDNZD trade ideas
The Ultimate Moving Average Strategy For AccuracyI utilise all key MA's - 20/40/100/200 for a continually reliable system.
They will show you what is a 'good/bad' price at any time.
Learn that, and you will get better entries/exits.
NZD/USD: Bearish Breakdown or Just a Fakeout? Let’s Find Out!Looking at the NZD/USD charts across multiple time frames, we can spot some solid technical setups brewing. On the weekly chart, we see price action respecting both the 21 EMA and 200 EMA, with price bouncing off weekly resistance around 0.61110 and now sitting just above that daily support zone at 0.60116. Momentum is still bearish with price pushing down and failing to break above the 21 EMA, which indicates continued weakness.
The daily chart shows price consolidating beneath a key resistance level at 0.61110 and struggling to gain any upward momentum. The price recently attempted to push higher but got rejected at the 21 EMA, and now we are seeing a potential continuation to the downside with price hovering close to that 0.60116 support. This tells me the bears are still in control, and we might see further downside pressure this week.
On the 4-hour chart, the price is moving steadily below both the 21 EMA and 200 EMA, with a solid bearish trend in play. It’s been consolidating after a recent drop, which could set us up for a potential break lower. If we get a clean break below 0.60116, I’ll be looking to get in on a sell with a target toward the next weekly support at 0.58641. However, a retest of 0.61110 and failure to break higher could also be a great opportunity to sell from that resistance level.
Overall, I’m looking for a sell setup, either on a break below 0.60116 or a retest and rejection of 0.61110. Keep your eyes peeled for confirmations and remember, as always, manage your risk wisely! This is a great week to lock in some pips if you play it right. Let’s get to it, traders!
NZDUSD to continue in the downward move?NZDUSD - 24h expiry
There is no clear indication that the downward move is coming to an end.
Although we remain bearish overall, a correction is possible without impacting the trend lower.
Risk/Reward would be poor to call a sell from current levels.
A move through 0.6025 will confirm the bearish momentum.
The measured move target is 0.5075.
We look to Sell at 0.6060 (stop at 0.6080)
Our profit targets will be 0.6010 and 0.5995
Resistance: 0.6060 / 0.6075 / 0.6100
Support: 0.6025 / 0.6000 / 0.5975
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NZDUSD BIASlook closely at the chart and try to analyze the bias yourself. Its Simple and understandable
NZDUSDCurrently on NZDUSD on the weekly timeframe price has just taken out the previous weekly low and closed above it, and now during the current week price has just taken out the low that that already took out the liquidity, further increasing accuracy and volatility, to help us drive the market to our target area.
NZDUSD still consolidating near the 61.8Intraday Update: A strong reaction from the very minor descending channel which suggests a move back to the .6090 level should offer resistance.
NZDUSD: New Low After Breakout 🇳🇿🇺🇸
Quick update for NZDUSD:
the pair has recently violated a key daily horizontal support.
After a breakout, the market nicely retested the broken structure
and started to fall from that.
With the yesterday's bearish movement, the price managed to set
a new Lower Low. It is an important sign of strength of the sellers.
I believe that the pair has a good potential to drop even lower.
Next support - 0.599
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NZDUSD TF TRADEThe market's daily trend is bearish, and yesterday, it made a new low after breaking the last support. Now, it is retesting that support, which we will view as resistance.
1-hour timeframe: The market has formed a double top pattern, and the neckline has broken to the downside. We have taken the trade on the retest.
Entry 0.60515
Sl 0.6070
Tp 0.6023
NZDUSD BUYBuying NZDUSD here at 0.60480, observing the reversal pattern of a falling wedge on H4 timeframe. We can target 0.61400. More buys will be added on the breakout of the channel.
NZDUSD Slightly Bullish Bias on October 22, 2024 !NZDUSD Slightly Bullish Bias on October 22, 2024: Key Drivers and Analysis
As of October 22, 2024, the NZDUSD pair is showing signs of a slightly bullish bias in the forex market. This article will explore the fundamental factors influencing the New Zealand Dollar (NZD) and the US Dollar (USD) and why the Kiwi may have a slight edge today. Traders looking to capitalize on the current market conditions should closely monitor the following key drivers:
1. RBNZ Interest Rate Decision Impact on NZD
The Reserve Bank of New Zealand (RBNZ) has recently kept interest rates unchanged at 5.50%, signaling a neutral to slightly dovish stance. While there was no immediate hike, Governor Adrian Orr suggested the bank is maintaining a vigilant approach to inflationary pressures. New Zealand's economy has shown resilience, and the RBNZ’s cautious optimism has bolstered investor sentiment towards the NZD.
The decision to hold rates was expected, but the RBNZ's language about controlling inflation while keeping an eye on global growth has strengthened the Kiwi. Higher inflation control and an improving outlook could lead to more confidence in New Zealand's economy, giving the NZD some support.
2. US Dollar Strength Weakening
On the other side of the pair, the US Dollar has recently shown some weakness due to a combination of soft economic data and concerns over the future path of Federal Reserve policy. With inflation moderating and signs of a potential slowdown in the US economy, market participants are beginning to price in fewer interest rate hikes for the rest of the year.
Recent reports have shown softer-than-expected retail sales and housing market data in the US, which have dampened the USD's strength. Risk sentiment is turning slightly positive as traders look for opportunities in higher-yielding currencies like the NZD, which tend to benefit when the USD pulls back.
3. Commodity Prices Supporting the NZD
New Zealand’s economy relies heavily on the export of commodities, particularly dairy products, meat, and wool. Commodity prices have stabilized in recent weeks, providing underlying support for the NZD. Dairy prices, a key export, have remained robust, and any further uptick in commodity prices could push the Kiwi higher.
A slight improvement in global risk appetite is also benefiting commodity currencies like the NZD. The stabilization in China’s economic outlook, one of New Zealand's largest trading partners, is another bullish signal for the NZD. China's recovery from its slowdown earlier in the year could help support demand for New Zealand’s exports, giving the NZDUSD pair additional upside momentum.
4. Technical Analysis and Market Sentiment
From a technical analysis perspective, NZDUSD is approaching a key support level around 0.5850, and recent price action suggests that buyers are stepping in. The pair has been consolidating in a range between 0.5800 and 0.5900, and if it breaks above the 0.5900 resistance level, it could signal further gains.
Market sentiment, as reflected by the Commitment of Traders (COT) report, shows that speculators have slightly increased their long positions in the NZD, indicating growing confidence in the Kiwi’s potential for upside movement.
5. Global Risk Sentiment and Geopolitical Factors
Geopolitical tensions, particularly in the Middle East and concerns over global trade, are playing a role in shaping risk sentiment. However, the current environment is less focused on extreme risk-off scenarios, allowing risk-sensitive currencies like the NZD to perform well in the short term. As long as global markets remain relatively calm, we could see further upside for the NZDUSD pair.
Conclusion: NZDUSD Outlook for October 22, 2024
In summary, the NZDUSD pair is expected to maintain a slightly bullish bias today due to a combination of factors including stable commodity prices, the RBNZ's cautious optimism, and US Dollar weakness. Traders should watch key levels such as 0.5900 on the upside, as a break above this level could indicate a more extended bullish move.
For those trading NZDUSD today, consider the broader fundamental factors and technical levels to capitalize on potential opportunities in this currency pair. Keep an eye on any surprises from the US economic data later in the day, as this could add volatility to the market and potentially influence the USD’s performance.
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Nzdusd for shortPrice formed a descending triangle, price broke out downward, retested the support zone. Wait for bearish candlestick pattern to form.
Kiwi H4 | Rising into overlap resistanceThe Kiwi (NZD/USD) is rising towards an overlap resistance and could potentially reverse off this level to drop lower.
Sell entry is at 0.6073 which is an overlap resistance that aligns with the 50.0% Fibonacci retracement level.
Stop loss is at 0.6129 which is a level that sits above the 23.6% Fibonacci retracement level and an overlap resistance.
Take profit is at 0.6020 which is a swing-low support.
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NZDUSD Testing Daily Support: Potential Drop to 0.589779Hello,
OANDA:NZDUSD is currently testing the daily support structure. If it fails to hold, further downside movement is anticipated toward 0.589779, which serves as the 1Y strong support point.
TradeWithTheTrend3344
NZDUSD - SHORT Entry Formation of LH and LL along with formation of Three Black Crows at the LH depicts continuation of bearish pattern.
safe-haven play :USD vs. NZDIn several of my previous analyses, I mentioned the state of the Forex market due to geopolitical tensions . As a result, we are witnessing an increase in safe-haven currencies like USD compared to riskier currencies such as AUD and NZD. Therefore, by following proper risk management principles, you can open short positions on this currency pair.
Additionally, from a technical perspective, after breaking down the ascending channel, the price has formed the first wave of Elliott and, after its correction, has completed the second wave. In the most recent candle, it has entered the third impulsive wave.
Target 1: 0.59750
Target 2: 0.58626
Stop Loss: 0.61010
It could be an Head & Shoulders insteadIt could be an Head & Shoulders instead of a Bullish Shark Pattern.
Let's see.
Bullish Shark Pattern on NZDUSD M15 ChartI love trading sideways consolidation breakout trades, but since I missed the initial move, I've been patiently waiting for a retest. Now, an even better opportunity has presented itself!
What's Happening?
- Bullish Shark Pattern : A Bullish Shark Pattern is forming on the M15 (15-minute) chart at 0.6046 on the NZDUSD.
Why is this Exciting?
- Combo Trade Management : This setup allows for a combination of strategies that can significantly reduce initial risk while increasing potential returns.
How to Approach This Trade?
1. Wait for Confirmation : I'll be waiting for a Magic Candle Confirmation at the pattern completion point before entering the trade.
2. Risk Management : Include our stop-loss buffer just below the pattern completion to manage risk effectively.
3. Potential Upside : With the pattern forming and the potential retest, this setup could offer a great risk-to-reward ratio.
Final Thoughts
Sometimes, missing an initial trade isn't a setback but an opportunity to find an even better setup. Patience pays off! 🎯
What’s your take on this NZDUSD setup? Have you spotted similar opportunities? Share your thoughts and let's discuss!
Happy trading, everyone! 🚀
Trading NZD/USD? Consider These Factors In Your Plans..Currently, Markets are changing from near to long term risk sentiment.
Focusing mainly on the lowering of rates across the board of global economies, the Markets for many correlated pairs have drifted somewhat sideways.
Any sudden change in sentiment (risk wise) often causes a skew in this, as we have seen from some recession fear/risk off sentiment previously.
Due to US strength post jobs/retail sales (slower easing, potentially) we are now seeing a further decline in the NZD/USD.
Any news on external market fears likely will sink the NZD further, at this point Markets are mostly relying on FED sentiment.
I would not be shocked if we get back to the Lower TL within current trajectory. I am out of shorts, and holding off any serious longs until previous lows (based on sentiment at the time).
The weakness we can see at the moment is clear as you have no real momentum coming from Antipodeans. I would only consider new shorts on reasonable pushes to the upside and key local resistance.
Awaiting any major FED sentiment RE rates/easing.
break out and retest of trendline.market keeps on giving us a bearish movement lets see how it plays out this week
