Beyond fundamental analysis I’d like to share some informative knowledge about the importance of following currency strength and sentiment. I am forecasting this long continuation for EURCHF based off knowing major currency strength and sentiment.
I forecast EUR to be third for currency strength and sentiment among major currencies to open the market. I can summarize this by observing CAD being the strongest currency as all major currencies against CAD are selling off (including JPY pairs which is second as EUR is correcting to sell off against JPY)
I know CHF is weak as EUR broke key resistance against CHF into a buy off. CHF buyers pumped its pairs to higher resistance followed by huge pivots across the board (most noticeably CHFJPY). Furthermore I am forecasting USD being weaker than EUR as we saw USDCHF dump to end the weak. Now we have accurate placements for strongest To weakest for half the major pairs CAD, JPY, EUR, CHF, USD to start.
Now I take a look at GBP and see it is selling off against CHF while EURGBP pivoted off a major support. Furthermore GBP is in a clear sell off against CAD, JPY and USD. Now our strength and sentiment placement is CAD, JPY, EUR, CHF, USD, GBP.
Our remains major currencies AUD and NZD are the weakest in strength and sentiment. Both currencies are selling off against all major currencies however AUDNZD is looming at a key support. A pivot and continuation will dub NZD the weakest. A breach through support will dub AUD the weakest. GBP is also in a volatile state against both currencies leaving the possibility of GBP being the weakest pending the trend play outs.
This is super detailed so please ask questions and comment. I feel like this is a great fundamental strategy for all to learn. Thank you.
Nzd-jpy
NZDJPY a bearish move? 🦐NZDJPY on the daily chart after the last impulse couldn't make new highs.
The price after the first bearish leg bounces over minor support and retraced to the 75 area, now look for a new lower low.
According to Plancton's strategy, if the conditions will be satisfied, we can set a nice short order.
--––
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
NZDJPY: Is the price COLLAPSING under its TRENDLINE?Hi traders and welcome to my channel, if you enjoy my FREE Technical Analysis 📈 and Trading Tips 📉, support the idea hitting the LIKE 👍 button and don't forget to SUBSCRIBE ✔️ my channel, you won't miss anything !
🟢 Forex Pair :
NZD/JPY
⚪ Technical Analysis :
Since November 2020, the price has been moving following an interesting ascending channel, reaching its main resistance zone at about 75.540 on the 8th of January 2021.
The price then collapsed, bouncing back on its main trendline but not able to reach again the previous level.
It has currently re-testing the trendline and the next price action around that area will be essential to understand a possible breakout.
🔴 Conclusion :
Overall, the NZD is giving us a short opportunity, the market is showing clear signs of weakness and I'm confident to see an upcoming breakout of its trendline.
I'll be waiting for the price reaching the level at about 74.000 before planning my short position on this trade.
Stay tuned for Updates and Trading Signals !
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⚠️ Please note the views are not investment advice and should be used only for educational purposes ⚠️
Trade Safe and Responsibly ,
Gianni
NZDJPY - Potential Short?Hey traders,
NZDJPY formed a bearish flag pattern and price strongly rejected the resistance level marked in red, the RSI was also showing a clear divergence on the 1 hour timeframe indicating potential bearish momentum. Price is currently breaking the support trend line of the bearish flag so I will be looking for short positions.
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NZDJPY is approaching support, potential bounce Price is testing our first support in line with our ascending channel, horizontal overlap support, 78.6% fibonacci extension and 23.6% fibonacci retracement where we could see a bounce above this level. Ichimoku cloud is showing signs of bullish pressure as well, in line with our bullish bias.
NZD/JPY on a Perfect Bullish TrendGood morning traders, today we will analyze the NZD / JPY pair in both daily and 4H charts so that you can see what we expect in the short term in this instrument.
🔸First of all, we want to mark that for most of the year 2020 and so far in 2021, the NZD/JPY is in a strong bullish movement.
🔸It recently broke a strong Resistance zone, and retested it last week, where there was a remarkable upside rejection.
🔸If we decrease the timeframe to 4H, we see a perfect corrective pattern, where the trendline of the move was broken, so we can expect an upward continuation towards the next resistance in the short term.
Nzdjpy might have more pull back with rejection here...
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Disclaimers:
The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes.
The author/producer of these content shall not and will not be responsible for any form of financial/physical/assets losses incurred from trades executed from the derived conclusion of the individual from these content shared.
Thank you, and please do your due diligence before any putting on any trades!
NZDJPY LongNice expanding flag. Wait for price to reach the 78-88%. price should be in ABC corrective phase. It should be in wave C. If the ABC correct will reverse with this pattern it likes to reach the 78-88% and sometimes 100% or slightly more then reverse. For extra confirmation be very patient and wait for the W/double bottom to form or an inverse head and shoulders. The W/inverse should be proportional to the flag pattern. Avoid taking tiny reversal patterns.
💡 Don't miss the great sell opportunity in NZDJPYTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (74.3). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. NZDJPY is in a range bound and the beginning of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 50.
Take Profits:
TP1= @ 73.50
TP2= @ 72.80
TP3= @ 72.10
TP4= @ 71.30
TP5= @ 70.50
SL: Break Above R2
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💡 Don't miss the great sell opportunity in NZDJPYTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (74.3). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. NZDJPY is in a range bound and the beginning of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 50.
Take Profits:
TP1= @ 73.50
TP2= @ 72.80
TP3= @ 72.10
TP4= @ 71.30
TP5= @ 70.50
SL: Break Above R2
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated! ❤️
💎 Want us to help you become a better Forex trader?
Now, It's your turn!
Be sure to leave a comment let us know how do you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
NZDJPY a move to the 74 level ? 🦐NZDJPY on the daily chart after the last impulse couldn't make new highs.
The price after the first bearish leg bounces over minor support, touch the 0.382 Fibonacci level and now look for the break of it.
According to Plancton's strategy, if the conditions will be satisfied, we can set a nice short order.
--––
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
NZDJPY £££ buy BUY!! NzdJpy is in a general upward trend as demonstrated with my 3 trendines, with that in mind, price has broke through a supply zone which is not a demand zone, price retesting this zone in confluence with the aggressive upward trend and engulfing candlesticks within the zone we can only conclude that price will continue upwards for 139 pips