Kiwi
NZDUSD breaking out of consolidation? Needs confirmation.From neutral to bearish (see previous idea/post link below) especially if we see a daily close as confirmation.
Measured target for this move shown in the chart.
This is a reversal trade and is a contrarian position against the overall preceding trend. I tend to view these setups as lower probability so I'm managing my risk here as best I can. Let's see what the market gives us.
This is not trading advice. Trade at your own risk.
Looks like a Risk-On start to the week - AUDNZD LongMarkets seem to be positive this morning which could be the start of a "Risk-On" theme for the week.
The commodity currencies are showing continued strength and Yen is weak across the board.
AUDJPY, NZDJPY, AUDUSD, NZDUSD etc. longs all look solid with no signs of the longer-term trends ending jumping out to me.
I'm stalking an AUDNZD long
We'll discuss further at the FX market scan tonight.
Cheers
Dale
2:1 Wedge buy on $NZDUSD Watching this possible breakout with buy stops. Great setup with good risk and reward off trendline support and the 50 DMA backtest.
NZDUSD MULTI-TIMEFRAME ANALYSIS 08/02 to 12/02Monthly and Weekly price structure is bullish , Daily is currently bullish . Price created a new support zone , there is a possibility to go for longs to reach the targets mentioned once price retraces back into the support zone .
Trade Safe!
Good Health! Good Wealth!
Short KiwiNZDUSD is in mild downtrend on daily, which slowly starting to take shape.
Dollar is gonna keep strengthening against most currencies.
I am looking for shorts in nzdusd and eurjpy.
FOR EDUCATIONAL PURPOSES
NZD/USD at 0.77c by the end of 2021?The New Zealand Dollar against the U.S Dollar has been a good barometer for the state of risk-on assets. It currently sits at around 0.7195, with technicals showing a possible strong move in the future. We now see a flat bottom wedge forming, with the wedge's completion seeing the NZD/USD make a violent move to the upside.
Historically, the price is in an area prone to intense swings to the upside and the downside if we look left. A move to the upside may finally bring 0.74c on the table, while a break of the flat bottom wedge before completion may see a move back to 0.70c. However, New Zealand's fortunate spot in eradicating the virus may allow tailwinds to support the technical possibilities.
Positive inflation numbers decrease the likelihood of further rate cuts
In the latter part of January this year, New Zealand's inflation numbers were better than expected at 1.2%, strongly surpassing analysts' forecasts of 0.2%. Jarrod Kerr, Chief Economist at Kiwibank in Auckland, stated that "the medium-term outlook for inflation looks stronger compared to just a few months ago." Like many analysts, Jarrod has reversed his viewpoint for more RBNZ cuts this year. This comes as many New Zealand retail banks such as ANZ and Westpac see that New Zealand's sharp recovery due to successful Coronavirus measures is likely to affect further rate cuts coming down the line. Both banks have retracted their rate cut predictions.
Unemployment beats expectations
Analysts predicted a rise in employment in the past quarter, with the RBNZ predicting unemployment rising from 5.6% to 5.3%. However, with numbers showing a drop to 4.9%, any optimism in rate cuts has all but vanished. Capital Economics further emphasized their view that interest rates in New Zealand would rise from next year.
Both are no doubt positive for the New Zealand economy and its citizens. However, this will turn the New Zealand dollar into a missile. Stephen Toplis, Bank of New Zealand's head of research at Bank of New Zealand, stated that they are "formally building a rate hike in May 2022" and that this may be "pouring fuel on the New Zealand Dollar that is already on fire." Many other senior economists are conveying the same viewpoint, with ASB's senior economist Mike Jones stating saying that the RBNZ's and fiscal stimulus "has done the trick, and no more is required."
With a surging house market, lower than expected unemployment, and higher than expected inflation, alongside favorable technical, the New Zealand dollar may be poised for a move upwards.
NZDUSD Buyretrace from Support , Buy , TP 200pip , No SL , observe the close of existing Candle , if it not close above previous candle , exit
NZDCAD TRADING PLANIf NZDCAD can reject the 0.618 fib on the 4h chart we can look for more bearish selling.
Buy NZDUSDDespite recent retrace, the price is anticipated to goes up as long as the temp support still intact 0.716.
Next Target Price , 0.730X (nearest resistance)
Long-term structures: NZDUSD shortA flat structure is complete. I am shorting this pair.
H1/ H4 frames and my entry points will be analysed in the updates to this post.
NZDUSD SHORT POSITION (4HR)CONFLUENCES:
- Bearish market structure
- Break of minor support
- Rejection of 61.8% Fib level
NZDUSD LongNZDUSD broke above level of 0.7175, and is finding support at retest. We enter here with STOP at 0.7155.
AT 0.7190 we will look to add to our position at the successful retest as seen here
AUDNZD ShortHey Traders,
Shorting AUDNZD. There are a number of technical reasons, combined with the fundamental factor of new COVID-19 cases being found around Australia bringing a possible second lockdown and state border closures. The northern beaches of Sydney have already entered a lockdown.
NZDUSD PREDICTIONSuch a strong bull trend, I'm not looking for any sells.
I'm looking for buys above 0.73 or buys at the bottom of the channel.
Notice the short term Fib, and notice that last 4hr candle how it closed as a bearish hammer, after a strong bearish candle. That wick is important as it showed price didn't want to break below the usual pullback and minor white trend line.
NZDUSD Running nicely in profitOur NZDUSD Short is running nicely in profit! As covid cases in Australia increase the pacific currencies have taken a hit today.
