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Newzealanddollar

GBPNZD Dip buy opportunity on the 1D MA50.The GBPNZD pair gave us a strong buy signal last time we called on it (January 05 2024, see chart below) and even broke above the former Channel Down pattern: The trend transitioned into an Inverse Head and Shoulders (IH&S) and recently broke above its top. It has formed the first 1D Golden Cross in 1 year (since March 27 2023), so on the long-term we have confirmed a new bullish trend. Right now we are looking for a short pull-back towards the 1D MA50 (blue trend-line) followed by an aggressive expansion towards the 2.0 Fibonacci extension, which is the typical target of the IH&S. Our target is lower on Resistance 1 at 2.15900. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
NZDUSD: Short term buy opportunityNZDUSD has turned bearish on its 1D technical outlook (RSI = 42.582, MACD = -0.004, ADX = 53.918) as up until two days ago it was on the 2nd Bearish Wave of the 2024 Channel Down. This wave appears to have ended as the price hit and rebounded on the S1 level, posting so far two very strong green 1D candles. The pair may make one more Lower Low as on February 5th but shouldn't be much lower than the S1 level. We are aiming at a similar +2.48% rise to the LH (TP = 0.60850). See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
2
AUDNZD Reversal expected. Cyclical bearish signal emerging.Has been a while since we looked into the AUDNZD pair, following our Sell Signal on November 16 2023 (see chart below): The price has now reached the 1.093250 Symmetrical Resistance, which has basically only broken once in the last 12 months. Ahead of a potential 1D MACD Bearish Cross, we see a high resemblance of the current High with the June 20 2023 peak. As a result, we are turning bearish on this pair, targeting the 0.618 Fibonacci retracement level (as the July 14 2023 Low) at 1.07100. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
NZDJPY Channel Up Buy SignalThe NZDJPY pair is on a Bearish Leg of the long-term Channel Up, below the 1D MA50 (blue trend-line) but above the 1D MA200 (orange trend-line), which is the long-term support. In fact the latter has been holding since June 02 2023. The minimum Bearish Leg decline within this pattern has been -3.77% so having almost completed this fall during the current pull-back, we now turn bullish on this pair, targeting 94.500 (+5.44% rise, which has been the minimum % increase of Bullish Legs within this pattern). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
NZDUSD Strong medium-term buy opportunity.The NZDUSD pair easily broke above the former Channel Down on our last buy signal (October 27 2023, see chart below) and then went on a slow long-term retrace: The restructured pattern is close to forming a Death Cross on the 1D time-frame, which would be the first since July 06 2023, a formation that turned out to be a buy signal. As the 1D RSI broke below its former Higher Lows trend-line and went below 35.00, a bullish pattern arises. As you can see such RSI pattern priced the Lows of October 26 2023 and May 31 2023, which where bottom buy opportunities that targeted the 0.786 Fibonacci retracement level from the previous High of the Channel Down. Assuming the price soon hits its Lower Lows trend-line, a projected 0.786 Fib is around 0.6280 but we are targeting marginally lower at the top of the Channel Down at 0.62350, as until it breaks, it remains the dominant pattern. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
New Zealand Dollar Bearish Sentiment and Trade Plan Based on the latest COT report, non-commercial traders (speculators) have significantly increased theirlong positions in the NZD. This suggests that they are becoming less bearish on the New Zealand dollar and may be anticipating a potential rally. Open Positions Retail Sentiment data also shows a decrease in short positions and an increase in long positions among retail traders. This is a contrarian indicator, as retail traders are often wrong at market turning points. Therefore, the increase in long positions among retail traders may suggest that the NZDUSD downside has further to go. The NZDUSD pair is currently trading below a triggered BUY level at 0.6157. An upside move and testing this level could make a fine signal to entry point for a short position.
Short
by ClashChartsTeam
1
NZDCHF Strong buy opportunity on the 1D MA50.The NZDCHF pair has been trading within a Channel Up pattern since the October 23 2023 Low. After breaking above the 1D MA200 (orange trend-line) for the first time in more than 1 year (since January 31 2023), the pair confirmed the trend shift from long-term bearish to long-term bullish. The recent 3-day pull-back to the 1D MA200 is a technical buy opportunity. As long as we close 1D candles above the 1D MA50 (blue trend-line), this is a buy opportunity, targeting the top of the Channel Up and Resistance 2 at 0.55140. Notice how this is exactly on the -0.236 Fibonacci extension, which is the level that the November 29 2023 Higher High was priced at. Also the 0.5 Fibonacci retracement is the level where it double bottomed (November 17 2023) and started the rebound to the Higher High. We are at the 0.5 currently, which indicates a strong Support case. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
1
NZDCAD Bullish, dip buy opportunity targeting 0.85400The NZDCAD pair has hit the 1D MA50 (blue trend-line) yet again today and remains under Resistance 1 (0.84300) since July 14 2023, having multiple rejections on it. We do see however the potential for the emergence of a Channel Up, as the 1D RSI is printing the same pattern as the October 20 2023 Low, which initiated a Bullish Leg. If the Channel Up prevails, that can be its new Bullish Leg to a Higher High. As a result we turn bullish on the pair, aiming for Resistance 2 at 0.85400. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
1
NZD/USD Finds Support Amidst Economic HeadwindsNew Zealand Dollar Finds Support Amidst Economic Headwinds The New Zealand Dollar (NZD) has recently discovered support at 0.6090, a critical area marked by previous support levels. This zone features two major supports, the 200-day moving average, and a dynamic trendline, potentially acting as obstacles to further declines. The presence of the 50% Fibonacci level adds an additional layer of potential resistance. Despite these technical factors, the Kiwi faces challenges, as New Zealand's Business PMI and Visitor Arrivals failed to provide the anticipated support. The support zone at 0.6090 holds significance, with multiple key elements converging to create a formidable barrier against further downward movements. The 200-day moving average, dynamic trendline, and the 50% Fibonacci level collectively act as dynamic supports, suggesting a potential reversal in the NZD's trajectory. Market Sentiment Influence: Amidst the challenging economic backdrop, improved market sentiment on the last Friday provided a glimmer of support to the Kiwi. Moderate advances in most European markets and positive Wall Street futures weighed on the Safe-haven USD, indirectly bolstering the NZD. New Zealand Economic Challenges: However, economic data from New Zealand presented a less optimistic picture. Business activity deteriorated in December, and visitor arrivals experienced a significant decline compared to the same period last year. This unfavorable data poses challenges for the Kiwi's strength. Upcoming Events and Outlook: In the upcoming US calendar, market participants will closely watch the Michigan Consumer Sentiment Index, expected to show moderate improvement. Additionally, San Francisco Fed President Mary Daly will conclude the week with her insights. Our Outlook: Despite the economic headwinds, our outlook for the NZD leans towards a new bullish impulse. The strong correlation with the EUR, coupled with the possibility of a decrease in US power, suggests potential upside for the Kiwi. Traders should carefully monitor economic indicators, central bank communications, and global market sentiment to make informed decisions in this evolving landscape. Conclusion: As the New Zealand Dollar navigates a challenging economic environment, the support at 0.6090 presents a potential turning point. While economic data reflects headwinds, the influence of market sentiment and the correlation with the EUR could contribute to a bullish resurgence for the NZD. Traders should remain vigilant and adapt their strategies to the evolving dynamics of the currency markets. Our preference Long positions Above 0.59500 with targets at 0.62500 & 0.63500 in extension.
Long
by FOREXN1
1
GBP/NZD: Analyzing Momentum Shifts Amid Central Bank DynamicsThe GBP/NZD pair has lost momentum for a possible rebound, regardless of Bank of England Governor Andrew Bailey's tempered remarks regarding the pace of interest rate hikes, despite presiding over a divided decision. This shift in sentiment has prompted a breakdown in price support around the 2.0500 area, followed by a subsequent retest and further bearish momentum. The price remains firmly below the 50-day moving average, signaling a strong inclination towards further downside movement. While both the Bank of England (BOE) and the Reserve Bank of New Zealand (RBNZ) have embarked on a tightening path, the impact on the sterling has been somewhat subdued. Expectations from both central banks now appear to be more evenly balanced. In light of these developments, we anticipate a continuation of bearish sentiment in the GBP/NZD pair, focusing on utilizing price action signals to guide our trading strategy.
Short
by FOREXN1
1
NZDJPY: Bullish Divergence and Fib Retracement Signal Potential📈 Overview: NZDJPY, amid a bullish trend, shows a bullish divergence near its higher low. The current retracement from the 0.618 Fibonacci level suggests potential upside. 📊 Technical Analysis: Bullish divergence and retracement from 0.618 indicate a favorable risk-reward ratio for potential long positions. 📉 Trade Strategy: Traders may consider long positions, with entry near the current retracement level, anticipating an upward move. 🛑 Risk Management: Mitigate risks with stop-loss orders to protect capital in case of unexpected price movements. 📈 Conclusion: NZDJPY offers a concise opportunity for further upside, supported by bullish signals. Monitor for confirmation and adjust positions accordingly.
Long
by miansarimhameed