NZDUSD forecast with possible targets I will go long only if sustain above previous swing high . I will short below .6238 for targets mentioned in chart
Thanks
NZDUSD
NZDUSD to continue in the upward move?NZDUSD - 24h expiry
There is no clear indication that the upward move is coming to an end.
Although we remain bullish overall, a correction is possible with plenty of room to move lower without impacting the trend higher.
Risk/Reward would be poor to call a buy from current levels.
A move through 0.6235 will confirm the bullish momentum.
The measured move target is 0.6275.
We look to Buy at 0.6220 (stop at 0.6200)
Our profit targets will be 0.6270 and 0.6275
Resistance: 0.6250 / 0.6270 / 0.6275
Support: 0.6225 / 0.6220 / 0.6210
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NZDUSDNZDUSD have some potential for upside with target at 0.63.
All setup on chart.
Traders should not use my plans as signals; they are meant to share my market perspective based on price reactions to key levels. Relying on others' signals limits your learning and causes insecurity. Instead, use my plans to enhance your strategy. Perform your own analysis and risk management first, then consult my plans to identify the best trading zones, the best levels to buy or to sell. Learning from others is important, but copying them won't make you a professional. Developing your own strategy and critical analysis skills is crucial for long-term success. Always trust your judgment and focus on continuous learning to improve your skills.
Your trading is your responsibility. Choose a good risk management.
$NZDUSD | Sell Trade | Market Exec |Technical Confluences:
Price action is in Overbought conditions for Daily and Weekly Timeframe
Price bounced off the 38% Fibo retracement
Price is also rejecting the Resistance trendline
Price action also reversed away from an Interest Zone
Fundamental Confluences:
With all other Central Banks in the DM space wanting to cut rates, it negates off the yield premium that NZD would be getting against USD
Market is consolidating after all the USD sell-off and profit-taking mood is here now
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Took a short position here targeting the 38% Fibo extension level while will look to cut above the Interest Zone. Risk/Reward ratio is at 2.41.
Price should not break above the Resistance trendline to affirm the recent price has topped out.
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Levels discussed on Livestream 28th August 28th August
DXY: Trading along 100.80, could trade lower to 100.55. If support level not broken, could range between 100.55 and 100.90
NZDUSD: Buy 0.6290 SL 20 T 70
AUDUSD: Looking for a break of resistance, Buy 0.6810 SL 20 TP 40
GBPUSD: Could trade up to 1.33, look for reaction at the strong resistance level.
EURUSD: Could range between 1.1160 and 1.12
USDJPY: Sell 144.25 SL 30 TP 75
USDCHF: Sell 0.8420 SL 30 TP 70
USDCAD: Sell 1.3445 SL 25 TP 80 (Hesitation at 1.34)
Gold: Above 2512 could trade up to 2525
NZD/USD POTENTIAL UP ?
Hello everyone, I'm here to share my views on NZD/USD. Please note that this is purely my personal opinion.
As observed from last week's candlestick data, NZD/USD managed to rise from a low of 0.60464 to a high of around 0.62365.
From last week's close, NZD/USD has dropped to 0.61942. It is now around 0.62253 and has the potential UP TO 0.62619 - 0.63034
Feel free to share your thoughts on my view, and I apologize if my English isn't perfect as I used a translation tool.
WEEKLY FOREX FORECAST Aug 26-30: USD EUR GBP AUD NZD CAD CHF JPYThis is Part 2 of the Weekly Forex Forecast for AUG 26-30th.
In this video, we will cover:
USD Index, EURUSD, GBPUSD, AUDUSD, NZDUSD, USDCAD, USDCHF, USDJPY
Enjoy!
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Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this channel, expressed or implied herein, are committed at your own risk, financial or otherwise.
Levels discussed on 27th August Livestream27th August
DXY: consolidating along 100.80, needs to stay below 101.10 to maintain bearish sentiment, breaking 100.80 could trade down to 100.55
NZDUSD: Buy 0.6230 SL 20 TP 45
AUDUSD: Look for reaction at 0.68 (CPI Pending) Sell 0.6740 SL 25 TP 45 (Tomorrow)
GBPUSD: Buy 1.3225 SL 35 TP 70
EURUSD: Buy 1.1180 SL 25 TP 70
USDJPY: Wait for retracement to complete, before looking for selling potential. could retest 146
USDCHF: Nothing for now, look for reaction at 0.8445
USDCAD: Sell 1.3450 SL 20 TP 40
Gold: Could retest 2500, look for bounce to 2515
NZDUSD: Very Bullish Pattern 🇳🇿🇺🇸
NZDUSD formed a bullish flag pattern on an hourly time frame
after a recent strong bullish movement.
The breakout of the resistance of the flag is a strong bullish signal.
It signifies a highly probable bullish trend continuation.
The price may reach 0.6235 / 0.6245 levels soon.
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Levels discussed on Livestream 26th August26th August
DXY: If IHS forms and break 100.80, could trade up to 101 and 101.10. If 100.80 holds as resistance, could trade down to 100 (if 100.50 is broken)
NZDUSD: Buy 0.6225 SL 20 TP 50
AUDUSD: Buy 0.6810 SL 20 TP 75 (Hesitation at 0.6850)
GBPUSD: Buy 1.3190 SL 40 TP 100
EURUSD: Buy 1.1175 SL 20 TP 75
USDJPY: Sell 143.25 SL 30 TP 100
USDCHF: Nothing for now, look for reaction at 0.8445
USDCAD: Could consolidate along 1.35 for now
Gold: Currently 2521 could trade up to 2530
NZD/USD: Bearish Reversal Signal with Key ConfluencesThe NZD/USD pair is currently exhibiting signs of a potential bearish reversal, highlighted by the formation of a Bearish Butterfly Harmonic Pattern . This pattern, when combined with the key technical confluences identified, supports a strong bearish outlook for the pair in the short to medium term.
Bearish Butterfly Harmonic Pattern:
The Bearish Butterfly Harmonic Pattern has formed near a critical resistance zone, suggesting a potential price reversal. The confluence of this pattern with the 78.6% Fibonacci retracement level on the weekly chart further reinforces the bearish sentiment. The harmonic pattern's completion at this juncture is a significant indication that the upside momentum may be waning.
Key Resistance and Trendline Confluence:
Price has recently tested and rejected a key resistance level, which aligns with both the descending trendline and the 78.6% Fibonacci level on the weekly chart. This rejection adds credibility to the bearish bias, as it suggests that sellers are stepping in to defend this area.
RSI Divergence on 4-hour time frame:
An additional layer of confluence is provided by the RSI divergence observed on the 4-hour timeframe. The RSI has shown a bearish divergence, indicating weakening bullish momentum. This divergence often precedes a trend reversal, further supporting our bearish outlook for NZD/USD.
Trade Plan:
Given the confluence of these technical factors, the following trade setup is recommended:
Entry: 0.61970
Stop Loss: 0.62400
Take Profit Targets
TP-1: 0.61540
TP-2: 0.61110
TP-3: 0.60680
Risk Management:
This trade setup offers a favorable risk-to-reward ratio, with tight risk management in place. The stop loss is placed just above the key resistance level to protect against potential false breakouts.
Conclusion:
The combination of the Bearish Butterfly Harmonic Pattern, key resistance rejection, trendline confluence, and RSI divergence points to a strong bearish case for NZD/USD. Traders should consider entering the trade at the specified levels, with a clear focus on the risk management strategy outlined above.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Please conduct your own research and consult with a licensed financial advisor before making any trading decisions.
NZDUSD → Attempt to change the trend amid falling dollarFX:NZDUSD is strengthening from the opening session amid the dollar's return to southward movement. Traders are intensifying USD sell-offs amid expectations of interest rate cuts...
Despite the New Zealand Central Bank's interest rate cut, the USD sell-off is more active on the currency pair. The dollar is forming a retest of support, which increases the chances of further decline in the price amid strong sell-offs.
The currency pair is testing the resistance at 0.6083, but at the moment there is a high probability of correction to the imbalance zone. The reason is that we approached the zone too quickly, we need to accumulate the pre-breakout potential. But, if the bulls manage to consolidate above the resistance, then the market will move to the realization phase after the trend line breakout.
Resistance levels: 0.60828, 0.61475
Support levels: 0.6036
Fundamentally, the environment points to the continuation of growth. Technically, the bulls will have to pass through the trigger at 0.60828 to start the realization phase.
Rate, share your opinion and questions, let's discuss what's going on with ★ FX:NZDUSD ;)
Regards R. Linda!
NZDUSD**NZDUSD Price Action Analysis – Monday, August 26**
From a price action perspective, the overall trend of the NZDUSD pair is bullish, and the short-term structure is expected to remain inclined towards an upward movement. As a result, the price may bounce off the pivot level and head towards the first resistance.
- **Pivot Level: 0.6202**
- This level aligns with other price levels and could lead to increased buying pressure.
- **First Support: 0.6127**
- This support represents a key technical reversal level and may limit further downward movements.
- **First Resistance: 0.6339**
- This resistance marks a recent turning point and could see heightened selling pressure around it.
NZD_USD RISKY LONG|
✅NZD_USD is trading in
An uptrend and the pair
Broke the key horizontal
Level of 0.6212 so we
Are bullish biased and
We will be expecting
Further growth
LONG🚀
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11 Money-Making Opportunities and the A.P.E FrameworkI’ve just recorded a video covering 11 Money Making Opportunities that you won’t want to miss. Here’s a quick rundown of the currency pairs discussed:
- GBPUSD
- USDJPY
- EURJPY
- GBPJPY
- NZDJPY
- NZDUSD
- AUDUSD
- AUDCAD
- USDCAD
- CADJPY
- GBPAUD
What’s Inside:
- A.P.E Framework: I’ve also shared how I use our trading framework, the A.P.E Framework, and why it’s so important in guiding my trades.
- Strategic Insight: These trading ideas are meant to get you thinking critically about your trades. Remember, they’re not meant for you to follow blindly.
Key Takeaway:
- Plan Your Own Trades: Use these ideas as a devil’s advocate to challenge your strategies and prevent you from going too aggressive on your trades.
Make sure to watch the video for in-depth analysis and insights!
What’s your take on these opportunities? Have any of these pairs caught your eye? Share your thoughts and strategies below!
Happy trading, everyone! 🚀
NZDUSD Is Approaching The Weekly Resistance and USD SeasonalityHey Traders, in tomorrow's trading session we are monitoring NZDUSD for a selling opportunity around 0.62500 zone, NZDUSD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.62500 support and resistance area.
Trade safe, Joe.
NZDUSD moving higher now**Monthly Chart**
NZDUSD last month's candle closed as a bearish high test after sweeping liquidity above 0.62000 level (Round number). This month (July 2024 - Still active) tested the midway of the previous month's candle and pushed to May 2024 (bullish candle) Demand Zone. It is also April 2024 low.
**Weekly Chart**
Last week NZDUSD closed lower after an aggressive sell-off for the past two weeks. The candle closed as a bearish candle. This week I will look for a buy setup around the demand zone if there is a low-risk entry on lower time frames.
**Daily chart**
This week, I will wait for the price to take liquidity below the 0.58858 level before entering long. Wait for the price to tell you when on lower time frames (ie. 4H and 1H).
NZD/USD SELLERS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
We are going short on the NZD/USD with the target of 0.603 level, because the pair is overbought and will soon hit the resistance line above. We deduced the overbought condition from the price being near to the upper BB band. However, we should use low risk here because the 1W TF is green and gives us a counter-signal.
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Bearish drop?The Kiwi (NZD/USD has reacted off the pivot and could fall to the 1st support which has been identified as a pullback support.
Pivot: 0.6152
1st Support: 0.6090
1st Resistance: 0.6214
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NZD/USD Potential for UpsideNZD looks to be gearing up for some more bullish action against Greenback.
I think we have a decent trade setup here.
Entry: 0.5950
Targets: 0.6034 & 0.6118
Stops @ 0.5866
Risk to reward is 1:2, this trade setup has a lot of potential considering the last weeks NFP data came out pretty weak from a fundamental stand point and I believe If the price holds up above 0.5850 further gains to the upside are very likely.
NZ dollar slips ahead of retail sales, Powell’s speechThe New Zealand dollar is drifting on Thursday. In the North American session, NZD/USD has fallen to 0.6132 at the time of writing, down 0.41% on the day.
The New Zealand dollar continues to have its way with its US counterpart and has soared 4% since July 29.
The markets are braced for a downturn in retail sales for the second quarter, with a market estimate of -1%, following a 0.5% gain in the first quarter. The New Zealand economy has been struggling and weak retail sales in June drove the Services PSI lower to 40.2 in June, compared to 42.6 in May. A reading below 50 indicates contraction. High interest rates have weighed heavily on economic activity and consumers have cut back sharply on discretionary spending.
In the US, the FOMC minutes of the July meeting reaffirmed that the Fed is headed towards a milestone rate cut at the Sept. 18 meeting. Most of the Fed officials at the meeting favored reducing rates next month, provided that that data “continued to come in about as expected”. The markets have fully priced in a September cut, which hasn’t happened since the onset of the Covid pandemic.
The annual Jackson Hole symposium is often little more than a photo-op but this year promises to be different. Next month, the Federal Reserve is poised to deliver its first rate cut since March 2020, likely in the form of a quarter-point cut. There is an outside chance of a large half-point cut, which would become more likely if the next jobs report on Sept. 6 points to further cooling job growth.
NZD/USD is testing support at 0.6147. Below, there is support at 0.6100
The next resistance line is 0.6209
NZD/USD Approaches Resistance: Are Shorts the Next Move?The NZD/USD pair has reached a key supply area around 0.6168, which coincides with a significant resistance zone on the daily timeframe. This area has attracted attention due to the confluence of several technical and fundamental factors.
According to the latest Commitment of Traders (COT) report, retail traders are increasingly taking long positions in the pair, while fund managers are moving in the opposite direction, positioning themselves short. Additionally, commercial traders, who typically represent larger institutional players, are beginning to reduce their long positions, suggesting a shift in market sentiment.
This shift aligns with broader market indicators, including seasonality patterns and oscillator readings, which both support the case for a potential short setup. The seasonality analysis indicates a period of historical weakness for the NZD/USD pair, while oscillators suggest that the recent upward momentum may be losing steam.
Given these factors, the supply area around 0.6168 presents a compelling opportunity for traders looking to capitalize on a potential downward move. The combination of technical resistance, COT positioning, and seasonal trends all point towards a possible short setup in the near term. As always, traders should monitor these levels closely and consider risk management strategies to navigate the evolving market conditions.
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Analysis of NZD/USD: Price Approaches Key Resistance ZoneAnalysis of NZD/USD: Price Approaches Key Resistance Zone
The NZD/USD chart today shows that the New Zealand dollar has risen by over 3% against the USD in less than a week. From another perspective, the NZD/USD rate has climbed more than 5% from its August low.
The volatility in the exchange rate was influenced by the Reserve Bank of New Zealand's decision to cut interest rates, as reported on 14 August.
Technical analysis of the NZD/USD chart reveals:
→ The current bullish sentiment has pushed the RSI indicator from the oversold into the overbought zone.
→ The 0.60770 level, which marked the peak on 13-14 August, may now act as support following its bullish breakout on 19 August.
More notably, the NZD/USD rate has entered a resistance zone (marked in purple), formed by trendlines drawn through key highs of 2023-2024. This could potentially slow the upward momentum.
As a result, the NZD/USD chart might continue to see significant fluctuations between this resistance zone and the critical support at 0.588 (a level where the price has repeatedly attempted, but failed, to break below over the past 12 months).
Investor attention now shifts to Federal Reserve Chair Jerome Powell's speech at the Jackson Hole symposium on Friday, which could trigger a surge in volatility and provide insights into how strongly the resistance zone is impacting the NZD/USD rate.
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