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NZD/USD does not confirm patternThe NZD/USD currency exchange rate continues to move as expected, in general. The issue it that the speculated lower trend line of the medium term descending pattern was passed on Thursday morning. The proposed support actually acted as a resistance to the currency exchange rate. However, after a period of fluctuations the currency pair returned to test the resistance cluster near the 0.7425 mark.
The reason for that was the 100-period SMA of the four hour chart, which was unnoticeably providing support to the Kiwi against the US Dollar. Although, the medium term downwards direction has not been changed. The rate is most likely going to bounce off the resistance cluster at 0.7425 and continue to move to the lower trend line of the dominant pattern.
NZD/USD breaks ascending patternThe New Zealand Dollar suffered losses against the US Dollar during the first half of Tuesday’s trading session. The currency pair even broke out of the ascending channel pattern to the downside. As a result of the break out, the pair fell down until it found support in the 200-hour SMA, which was located at the 0.7460 mark.
It is highly possible that until the end of the day’s trading the pair will approach the resistance of the weekly PP, which is located at the 0.7492 level.
Moreover, the weekly pivot point is strengthened by the 55 and 100-hour simple moving averages at 0.7498 level. Most likely after encountering the resistance cluster the currency pair will continue the decline. In addition, it can be expected that the rate will soon reveal a new descending pattern.
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GBPUSDHi, This morning Had open position, price was very close to the First Target but waiting for better profit. RSI start accelerating toward 60 level. We will see what will happen.
Cheers,
Jim
BITCOIN: BTCUSD New parallel forming- positive whilst above itBitcoin: Now forming a new better, cleaner pair pair of parallels and whilst above here medium term is positive - nearer term resistance above and needs to retest parallel one more time probably...but remains good whilst above that line
a new resistance?2 bearish patterns
the smallest shows the possible breakout of the actual resistance.
the biggest could support the idea.
green line for take profits.
use a stop profit on the smallest pattern. in this trade is important more than ever
p.s on the other side i draw the red arrow as an other dynamic resistance
more info in next hours
Just a little fall in the EURUSDThat's my idea for today. Just a small retest during the London Open and during the day a little walk to 1.045. What do you think about? www.tradingview.com
Possible movement of USDTRY USDTRY is an up bullish move since a month, lets see whats going to happen in near future,
Day trade idea.day trade only...
as picture above, price took out the low... and has broken structure to the upside...
also noted there is a double top, a lot of liquidity is resting above them, i'll be looking to buy at london killzone and hold for a day.
NZD/JPY Sell off resistancePrice action on this pairing is giving us so many good opportunities to make solid trades off of such a clean channel pattern.
With Long term resistance remaining essentially breach-proof during this consolidated bear/flat channel since the beginning of February, the time to trade it short off the D TF is right about now.
My stop loss is even with the previous uptrend's candle wicks. (75.925)
My profit target will be triggered if price can fall to 74.835
That is a risk/reward ratio of exactly 1/2.3, and would provide a profit valued at 74 pips.
GBPNZD long-entry for 1-2 week tradeLooking for a long-entry off the lower trendline. Keep in mind the pound is in a delicate situation and there is a good change the lower trendline will break and we will head to newer lows. Keep a sensible stop loss and hold the position long-term.
NZDUSD Possible top in play keep watch!#NZDUSD Possible top in play..... keep an eye on kiwi..
Red indicates range were top could possible hit....
White vertiical lines indicate range within dates...
So 9-7-16 could be the top or in date range of 9-19 - 10-27
the real top could show up
Gann Analysis
eurusd short ideaim short on EURUSD harmonic pattern and wave structre on bigger time frame confirms this for me.
