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Nzdusddaily

NZDUSD testing major channel resistance,potential strong drop!NZDUSD is testing major channel resistance at 0.6936 (Fibonacci retracement, Fibonacci extension, price action, channel resistance) and a strong drop could occur at this level to push prices all the way down to major support at 0.6852 (Fibonacci extension, horizontal swing low support). Stochastic (34,5,3) is also seeing major resistance at 91% where a corresponding drop could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
NZDUSD Profit Target Reached Perfectly, Prepare For A DropNZDUSD has once again reached our profit target perfectly. We now prepare for a drop. Sell below 0.6905. Stop loss at 0.6935. Take profit at 0.6855. Reason for the trading strategy (technically): Price shot up perfectly and reached our profit target. We prepare to sell below major resistance at 0.6905 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) for a drop towards major support at 0.6855 (Fibonacci extension, horizontal swing low support). Stochastic (89,5,3) is seeing major resistance below 90% where a corresponding reaction could occur.
Short
by theforexarmy
1
NZDUSD Reached Profit Target Perfectly, Prepare For A BounceNZDUSD has dropped perfectly to our profit target and is now testing channel lower limit support. Buy above 0.6855. Stop loss at 0.6829. Take profit at 0.6905. Reason for the trading strategy (technically): Price has dropped perfectly to our profit target and we’re now seeing major support at 0.6855 (channel lower limit support, horizontal swing low support). We expect a bounce to occur at this level to push price up to major resistance at 0.6905 resistance (Fibonacci retracement, Fibonacci extension, horizontal pullback resistance). RSI (89) sees major support above 36% where a corresponding bounce could occur.
Long
by theforexarmy
NZDUSD Short to 0.73243NZDUSD encountered so resistance just below the 0.74000 so I am expecting a small retracement back down to around 0.73243 area. This is a healthy retracement before it resumes its up trend to the 0.74000 I still believe that this pair will want to trade to 0.74000 longer term but for now I believe that a retracement is in the cards near term. This will be interesting to see pan out in a demo account and I will make updates to this thread if my bias changes.
Short
by WaterTree
CTS based Trade - Short NZDUSD 60M Combined technical scoring system trade 1 - RSI overbought 1 - RSI divergence 1 - Fibonacci extension confirmation 1 - Higher time frame confirmation - price action operating at upper trendline 1 - Advanced bat pattern completion in this zone 1 - Weekly resistance at 0.73000 - Major Structure 1 - Resistance at previous structure high - Minor Structure 1 - Double top TOTAL = 8 POINTS Target - At first level of support, this also aligns with the targets for the bat pattern. Stops - ATR Based stop above the highs I believe that bat patterns that can be backed up with further technicals such as the combined technical scoring system, are often the strongest. I am 19, I have been studying price action trading over the last 3 months and so I am very much a beginner, any comments good or bad are welcomed!
Short
by burnstommy
CTS based trade - NZDUSD 60M SHORT CTS trade (combined technical scoring system) 60m chart: 1 - RSI overbought 1- RSI Divergence 1 - Fibonacci extension confirmation 1 - Advanced Bat Pattern completes in the kill zone 1- HTF-confirmation - Price action is at the daily trend-line 1 - Key weekly resistance at 0.73000 1 - Price is losing momentum at previous structure high - minor structure 1 - Double top TOTAL = 8 POINTS Target - Target at most recent structure to the downside, this also aligns with the targets for the Bat pattern. Stops - ATR based stop above the high. I have found that Advanced-patterns that can be backed up by further analysis such as the CTS based system, are usually the strongest. I am 19, and have been learning to trade price action for the last 3 months. Very much a beginner, any comments good or bad are welcomed!
Short
by burnstommy
NZDUSD Testing Strong Descending Resistance LineNZDUSD is approaching its major resistance and long term descending resistance line. We can expect a reversal. Sell below 0.7276. Stop loss at 0.7302. Take profit at 0.7201. Reason for the trading strategy (technically): Price is approaching major resistance at 0.7276 (61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal overlap resistance) where we expect a reaction, causing price to push all the way down to its support at 0.72011 (61.8% Fibonacci extension, horizontal swing low support). We have to be cautious of the intermediate support at 0.7243 (38.2% Fibonacci retracement, horizontal overlap support). Stochastic (55, 5, 3) is approaching its resistance at 97% where we expect a corresponding reaction.
Short
by MEX_Exchange
1
NZDUSD Has Broken Major Support, Remain Bearish For Further DropNZDUSD is seeing a bearish acceleration after breaking key ascending support. Sell below 0.7282. Stop loss at 0.7305. Take profit at 0.7230. Reason for the trading strategy (technically): Price has reversed nicely and has made a bearish exit from our ascending support-turned-resistance line. We look to sell below major resistance at 0.7282 (Fibonacci retracement, horizontal overlap resistance) for a push down to major support at 0.7230 (Fibonacci retracement, horizontal swing low support). RSI (34) sees that we have made a recent bearish exit from our ascending support-turned-resistance level signalling that we could expect more bearish momentum.
Short
by MEX_Exchange
1
NZDUSD Approaching Strong Resistance, Time To SellNZDUSD is seeing some strong resistance levels above it, presenting us with a good selling opportunity. Sell below 0.7277. Stop loss at 0.7305. Take profit at 0.7203. Reason for the trading strategy (technically): Price is approaching major resistance at 0.7277 (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance) and a strong reaction could occur at this level to push prices down to 0.7203 support (Fibonacci retracement, horizontal swing low support). Stochastic (89,5,3) is seeing bearish divergence along with major resistance at 93% signalling that a reversal is impending.
Short
by MEX_Exchange
2
NZDUSD reversed perfectly, remain bearish for a further dropNZDUSD dropped perfectly from our selling area, we tighten our stop loss to protect our position. Sell below 0.7249. Stop loss at 0.7268. Take profit at 0.7154. Reason for the trading strategy (technically): Price has reversed perfectly from our selling entry and is working its way towards our profit target. We tighten our stop loss to 0.7268 to protect our profits. We are also seeing intermediate support at 0.7194 (61.8% Fibonacci retracement, 61.8% Fibonacci extension) which could see price bounce off there before dropping further to our major support at 0.7154 (major swing low support, Fibonacci extension). Stochastic (89,5,3) is seeing major resistance below 93% and is reversing nicely below this level with good downside potential.
Short
by MEX_Exchange
NZDUSD Remain Bearish For A DropNZDUSD has made a pullback to strong resistance presenting us with a good opportunity to short it. Sell below 0.7249. Stop loss at 0.7289. Take profit at 0.7154. Reason for the trading strategy (technically): Price has risen since yesterday and is now testing major resistance at 0.7249 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) and a strong reaction could occur at this level to push prices down to next support at 0.7154 (Fibonacci extension, horizontal swing low support). Stochastic (34,5,3) is seeing major resistance at 94% where a corresponding reaction could occur.
Short
by MEX_Exchange
NZDUSD Bearish Breakout, Time To SellNZDUSD has broken out of our major support, now is a good time to sell. Sell below 0.7188. Stop loss at 0.7249. Take profit at 0.7032. Reason for the trading strategy (technically): Price has made a bearish breakout of our major support level at 0.7188 (Fibonacci retracement, horizontal overlap support) and is poised to drop further from here towards our profit target support level at 0.7032 (Fibonacci retracement, horizontal pullback support). RSI (89) sees descending resistance hold our prices down really well and adds to our bearish bias.
Short
by MEX_Exchange
NZDUSD approaching strong resistance where reversal could occurNZDUSD is fast approaching strong resistance at 0.7341 (Fibonacci retracement, horizontal swing high resistance, Fibonacci extension) and a strong reaction could occur at this level to push prices down to 0.7250 support (Fibonacci retracement, horizontal swing low support). Stochastic (55,5,3) is seeing major resistance at 93% where a corresponding reaction could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
1
NZDUSD testing major resistance, time to sellNZDUSD is at a good opportunity to sell. Sell below 0.7306. Stop loss at 0.7341. Take profit at 0.7249. Reason for the trading strategy (technically): Price is testing major resistance at 0.7306 (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension) and a strong drop could occur at this level to push price all the way down to 0.7249 support (Fibonacci retracement, horizontal swing low support). We do have to be cautious about 0.7276 intermediate support as price might bounce off there. Stochastic (34,5,3) is seeing major resistance below 95% where a corresponding reaction could occur.
Short
by MEX_Exchange
NZDUSD double bottom forming nicely, further bullish potential!NZDUSD is has formed a nice double bottom formation and we’re seeing major support above 0.7273 (Fibonacci retracement, horizontal overlap support, breakout level) and a strong bounce could occur from here to help price rally towards our next major resistance at 0.7341 (Fibonacci retracement, horizontal swing high resistance). RSI (89) sees ascending support hold price up really well and adds to our bullish momentum. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Tickmill
2
NZDUSD looking really bullish, time to buyNZDUSD has completed a double bottom reversal and is looking really nicely setup to rise further. Buy above 0.7276. Stop loss at 0.7251. Take profit at 0.7341. Reason for the trading strategy (technically): Price has formed a sort of double bottom reversal and our major support remains at 0.7276 (Fibonacci retracement, horizontal overlap support, double bottom exit) and we look to buy above this level for a push up towards 0.7341 resistance (Fibonacci retracement, horizontal swing high resistance). We do have to keep a watch out for immediate resistance at 0.7307 (Fibonacci retracement, horizontal overlap resistance) which needs to be broken to open a further rise. RSI (34) sees ascending support hold up our bullish momentum really well.
Long
by MEX_Exchange
1