NZD USD BUY (NEW ZEALAND DOLLAR - US DOLLAR)Hi there. Price is forming a continuation pattern to the upside. Watch strong price action at the current price for buy.
Kiwi
bearish signal on nzd/jpywe have the nzd/jpy on a bearish movement started this week , and will continue in it's bearish direction
Bearish directionNzd/jpy started it's new wave this week falling down with a possibility of more bearish movement
KIWI: Sharp dive continuesBy Andria Pichidi - February 7, 2019
The New Zealand Dollar reverted the month’s positive outlook overnight, after the announcement of the weaker than expected Labor data. The unemployment rate reported at 4.3% from 4.0% in Q3 and its forecast at 4.1%. At the same time employment was well below projections, as it grew by just 0.1% in contrast to the 1.1% in Q3 (q/q, sa).
This weak report complies with RBNZ’s pledge to keep the rate at the current level through 2019 and 2020.
The overnight miss pushed NZDUSD to a 12-day low, at 0.6743 , putting the pair below all 3 daily moving averages. This strong downleg broke all Support levels stated yesterday, converting the near term outlook into negative.
NZD FIGURE
Currently NZDUSD is currently retesting the 200-day SMA at 0.6760 , without any significant positive bias so far today. As 20- and 50-period SMA posted a bearish cross in the 4-hour chart, while momentum indicators are configured negative, the day’s picture remains negative, with next immediate Support at 0.6725 , which is the confluence of S1 and 38.2% Fib. level set in December. RSI is moving within the oversold area and MACD lines are extending to the downside, suggesting the increase of negative bias. Further losses below 0.6725, could lead the pair towards 0.6580-0.6650 area.
To the upside only a move above 0.6850 (midway of yesterday’s crash) could shift the asset further higher. In the short term Resistance comes a t 0.6780 (200-period SMA and the latest up fractal in 1-hour chart).
NZDJPY
Other than Greenback, Kiwi faced the biggest dive against Yen. NZDJPY rejected the 75.90 h igh and is currently sloping by 180 pips lower, below 20-day SMA. The rejection of that level signifies a move away from the upper Bollinger Bands pattern but significantly from the upper level of the 18-month downchannel. Hence a close today below the 20-day SMA at 74.50, could open the doors towards the lower Bollinger Bands pattern and the mid line of the channel, at 0.7320 and 0.7255 respectively.
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GBPNZD median linegbpnzd pushing into median line of solid formation. Also a key pivot level (december high) & 38.2% retrace off move lower through late January
30 min
Daily look at pitchfork
NZDUSD slopeLast week to end the month the kiwi spiked into it's long term 38.2% slope setting up a short opportunity. Also coming off trend line resistance (pink dashed) & shifted back below the median line in this upside pitchfork. Also an RSI trigger break below trend line supports a move lower.
Weekly pitchfork
30 min levels
NZDJPY, potential sell NZDJPY just touched the daily trendline which also meets my resistance area. As it couldn't break none of these successfully I'm expecting it to continue the downtrend.
In the other hand, the price has bounced on the 61.8 fib level which is also a good confirmation of trend continuation.
However, I'll wait until it breaks the previous uptrend to go short. If it breaks it, we could see a bearish move of 150 pips.
aud/nzd simple bullish setupon the aud/nzd, support seems to be respected from the weekly/daily chart. On the 4hr chart I am hoping that that price breaks out from the trendline so I can find a way to enter.
nzd/jpy short setupOn the nzd/jpy I see a rising wedge pattern that has occurred + price has reached resistance zone as well.
price has respected this resistance zone for some time now so I am hoping that price will follow through again.
NZDCHF BuySimilar to EURCHF, buying this pair with a conservative SL @0.675 and TP near 0.69.
Daily:
Weekly:
Confidence: B (unlike with EURCHF which is riskier, this one I'm a little more confident despite the current price action shying away from my entry point because of strong macroeconomic fundamentals in NZD as mentioned in my blog).
NZDUSD - Supply zone + Gartley PatternThe NZDUSD is set to rise a little higher since it has broken the neckline at 0.6848, and that invites the completion of a Gartley pattern.
The price currently may fall first on an HnS formation before it climbs and breaks higher.
The price will eventually rise into the 2-month supply zone as seller awaits at the zone.
The Kiwi Ripe? Ichimoku NZD/USD Long Trade SetupWith the fundamentals at play last week we saw some big movements across most pairs including the kiwi here. Due to how quick it climbed I'm expecting a nice drop to test our previous support level which is where I'm anticipating tenken sen being as well. If we can get that drawback and support hold with a good candle, I'll look to enter there to climb back to our structure highs. As an alternative, if we consolidate and move a little sideways here I will trade a break out of this current resistance level I've noted with a blue horizontal line. If we rise above that and either close or look strong, I'll enter a long that way. If either of those scenarios fail to take place, I'll consider this setup invalidated.
GBP NZD BUY (POUND STERLING – NEW ZEALAND DOLLAR)Hi there. Price is forming a continuation pattern to the upside. Wait for the price to hit the bottom of the pattern and watch strong price action for buy.
EUR NZD BUY (EURO – NEW ZEALAND DOLLAR)Hi there. Price is forming a continuation pattern to the upside. Watch strong price action at the current price for buy.
EW ANALYSIS: NZDUSD Is Beginning To Turn BullishFX:NZDUSD The Kiwi formed a clear five-wave rally from 0.6425 lows, which in EW theory suggest more upside after a correction. As you can see, pullback was deep, but complex with overlapped wave structure and also nicely within channel range, so we assume that this was just a double zig-zag W-X-Y corrective decline. And yes, The Kiwi bounced idealy around 61,8% Fibonacci retracement, so seems like the support has been found at 0.6585 level.
That said, we think that NZDUSD made a nice bullish setup that can send price back to highs 0.6970 highs or maybe even higher. Just have in mind that we still need a confirmation for this, so bulls can be confirmed only above 0.6880 region!
Of course, this may take some time, it could stay sideways or it can go even more complex, but anyhow, we will remain bullish as long as it's moving above 0.6425 invalidation area.
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
