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NZDUSD

Strifor || USDCAD-22/05/2024Preferred direction: SELL Comment: After another price fixation at the level of 1.36000, we are again considering an approach to this level through two scenarios. It should be noted that a fall below 1.36000 is not expected, so it will be very important to exit on time. The most likely scenario №1 involves a fall actually from current prices near the level of 1.36557 . Scenario №2 is more conservative, but at the same time less likely today, which involves a fall from the level of 1.37020. In general, most likely in the short term, the main competitors of the US dollar will strengthen their positions, however, considering the more global picture, there is a high probability that the US currency will win back all its lost positions. Additional comments on this trade will be provided as situation changes. Follow us! Thank you for like and share your views!
Short
by Strifor
1
Strifor || NZDUSD-21/05/2024Preferred direction: BUY Comment: The bullish mood remains for the New Zealand dollar. We will most likely see growth here in the very near future. The focus is on level 0.61670 , which is expected to be broken in the very near future. However, the price is unlikely to go too high given the prevailing technical factors. Therefore, it is preferable to take profits near this resistance, despite the slightly greater potential that this instrument may show. Additional comments on this trade will be provided as situation changes. Follow us! Thank you for like and share your views!
Long
by Strifor
1
Strifor || AUDUSD-21/05/2024Preferred direction: BUY Comment: The currency pair continues to trade above the level of 0.66460 , and at the beginning of this week, we maintain our buy priority for this instrument, as well as the scenario. Today, both scenarios are relevant, and until the support level of 0.66460 is broken down by sellers, the bullish mood will persist. It should be noted that the goal should not be set too high. The area 0.67500-0.68000 is the growth ceiling. Additional comments on this trade will be provided as situation changes. Follow us! Thank you for like and share your views!
Long
by Strifor
1
Missed the NZD trade? What's next? As expected, the Reserve Bank of New Zealand (RBNZ) kept interest rates unchanged yesterday but did provide some surprises to the market; extending the timeline for a potential rate cut, and even noted its consideration of a rate hike. This unexpectedly hawkish stance sent the NZDUSD higher. Before the announcement, markets saw an ~80% chance of a rate cut by November, but this probability has now dropped to ~50%. Despite this, bullish momentum seemed capped. After probing above 0.6117 several times (with diminishing conviction), buyers turned into sellers. Governor Orr's comments during the post-decision press conference were perceived as slightly less hawkish, which helped push the price back down. Additionally, over in the US, minutes from the two-day Federal Open Market Committee meeting ending May 1 showed that while participants felt the policy was “well positioned,” several officials expressed a willingness to tighten policy further if necessary. If the price declines, the next key target could be the 100-day moving average at 0.60712, which coincides with a 50% Fibonacci retracement level. However, support is potentially located at .6083 before this, with resistance kicking in at the session high above .6150.
by BlackBull_Markets
NZDUSD:Hawkish RBNZ and Potential UpsidesHey Traders, in today's trading session we are monitoring NZDUSD for a buying opportunity around 0.60750 zone, NZDUSD is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 0.60750 support and resistance area. Last night the RBNZ did consider raising rates which should give a boost to the kiwi meanwhile on the other hand the macro environment of the dollar is soft after the current progression of CPI in the US. Trade safe, Joe.
Long
by JoeChampion
NZD/USD steady ahead of RBNZ rate announcementThe New Zealand dollar is almost unchanged on Tuesday. NZD/USD is down 0.06%, trading at 0.6102 in the European session at the time of writing. The Reserve Bank of New Zealand has shown it can be patient, having held the cash rate at 4.35% for six straight times. The central bank is expected to maintain rates yet again at Wednesday’s meeting as inflation has remained stubbornly high. Inflation has been moving lower and fell to 4% in the first quarter, down from 4.7% in the fourth quarter of 2023. However, this remains double the midpoint of the 1-3% target range and is too high for the RBNZ to start trimming rates in the near-term. At the same time, economic data for the first quarter was soft which should result in disinflation. The unemployment rate rose to 4.3% in the first quarter, private wage growth decelerated and GDP contracted by 0.1% q/q. The RBNZ had its mandate limited to inflation in December; previously, the central bank was mandated to maintain low inflation and full employment. Still, the strength of the labor market and wage growth will be eyed by the central bank as it determines its rate policy. The Federal Reserve continues to sound hawkish about rate policy and remains cautious about rate cuts. On Monday, Fed Vice Chair Philip Jefferson said that it was too early to tell if the downtrend in inflation would be “long lasting”. Fed Vice Chair of Supervision Michael Barr said that first-quarter inflation data was disappointing and was not supportive of easing monetary policy. For a second straight day, there are no US economic releases and we’ll hear from a host of FOMC members, which could provide insights about the Fed’s rate policy plans. NZD/USD is tested support at 0.6089 earlier . Below, there is support at 0.6039 0.6185 and 0.6235 are the next resistance lines
by OANDA
Potential bullish bounce off 38.2% Fibonacci support?NZD/USD is falling towards the pivot which acts as a pullback support and could bounce to the 1st resistance. Pivot: 0.5074 1st Support: 0.6038 1st Resistance: 0.6138 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
NZDUSD to find buyers at market price?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 0.6125 will confirm the bullish momentum. The measured move target is 0.6175. We look to Buy at 0.6100 (stop at 0.6075) Our profit targets will be 0.6160 and 0.6175 Resistance: 0.61250 / 0.6150 / 0.6175 Support: 0.6100 / 0.6075 / 0.6050 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Long
by OANDA
Continuation for Kiwi Ahead Of RBNZ?Kiwi showed a robust continuation candle last week on the daily chart. The price recovered above the 0.6085 resistance level and finished the week above the 0.61 area, suggesting a potential continuation pattern unfolding in the middle of an impulsive recovery. This week, the Bank of New Zealand's interest rate decision is anticipated, and they are not expected to implement any cuts this year. Their relatively "not dovish" stance might keep the pair in recovery mode, especially considering the recent downside movement in US yields that was bullish for USD, and the positive performance of stocks. Higher stock prices and risk-on flows could be supportive for Kiwi. A closer look at the Elliott wave structure indicates the possibility of at least one more push higher, potentially reaching up to the 0.6200 area for wave C/3.
Long
by ew-forecast
Strifor || GOLD-US CPIPreferred direction: BUY Comment: Before the publication of today's data on the US CPI , on gold , we have been following the previous trading idea that we gave at the beginning of the week. The price has already begun to move according to our scenario, but we must not forget about potential volatility amid the publication of today's data from the US. For this metal, we expect an approach to the historical maximum at the level of 2431.590 , and most likely, in the very near future, we will easily approach this target. Additional comments on this trade will be provided as situation changes. Follow us! Thank you for like and share your views!
OANDA:XAUUSDLong
by Strifor
1
EUR/USD Trade Hits Target at 1.0650 by July 2024EUR/USD Trade Hits Target at 1.0650 by July 2024 The EUR/USD currency pair has reached a significant level as the short trade hits its target at 1.0650 by July 2024. The pair's downward movement has been influenced by various factors, including economic data, central bank policies, and market sentiment. The US dollar has shown strength in recent months, driven by relative outperformance of the US economy and a more hawkish stance from the Federal Reserve. In contrast, the Eurozone's economic recovery has been more tepid, with the European Central Bank signaling a potential reduction in policy rates if underlying inflation continues to decelerate as anticipated. Technical analysis of EUR/USD also supports the bearish sentiment, with the pair struggling below the pullback resistance at 1.0695 and the Moving Average Convergence Divergence (MACD) indicating weakness. The nine-day Exponential Moving Average (EMA) at 1.0675 serves as the immediate barrier for the pair. The broader context of the EUR/USD pair's movement is influenced by geopolitical events and economic indicators. For instance, the escalating conflict between Israel and Iran has been mentioned as a factor that could potentially postpone the first rate cut by the European Central Bank to July from June. Investors will continue to monitor economic data releases and central bank statements for further insights into the direction of the EUR/USD pair. As the pair reaches the 1.0650 level by July 2024, traders will be closely watching for signs of a potential reversal or continuation of the downward trend. In conclusion, the short EUR/USD trade has reached its target at 1.0650 by July 2024, reflecting a combination of economic factors, central bank policies, and technical analysis. The future direction of the pair will depend on evolving market conditions and further developments in the global economy.
Short
by NYRUNSGLOBAL
Strifor || AUDUSD-16/05/2024Preferred direction: BUY Comment: AUDUSD is also on the buy list. This currency pair is also one of the most promising for short-term buyers. Most likely, growth will begin as much as possible at current prices (scenario №1). Here we have a good local upward trend, towards which we are considering trades. One can also consider going long from the level of 0.66460 , or rather near this level (scenario №2). We fix the growth target at the round level of 0.67500 . Additional comments on this trade will be provided as situation changes. Follow us! Thank you for like and share your views!
Long
by Strifor
3
Strifor || NZDUSD-16/05/2024Preferred direction: BUY Comment: Buy-priority is also relevant for the New Zealand dollar . Most likely in the very near future we will once again go for maximum updates. The growth target is considered at the level of 0.61670. The most likely scenario, as we have outlined, is an increase from current prices (scenario №1). One can also consider growth from support 0.60713 (scenario №2). Additional comments on this trade will be provided as situation changes. Follow us! Thank you for like and share your views!
Long
by Strifor
1