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NZDUSD - The USD Will Continue To Fall!Analysis: Upwards trend (bullish confluence factor) Retest of an old support level (bullish confluence factor) 61.8% fib retracement level (bullish confluence factor) Upwards trendline touch (bullish confluence factor) NZD is the 5th strongest major currency whereas the USD is the 3rd strongest major currency (bearish confluence factor) 2K short position increase for the NZD (bearish confluence factor) 8K short position increase for the USD (bullish confluence factor) Comments: Despite the strength of the US, the USD has been pretty bearish for a while now and it looks as if this could continue. We're pulling back into a strong area which we expect to hold as resistance for the DXY, meaning that we could then see a continuation to the downside which in turn would favour our idea on NZDUSD. Whilst we don't have all of the confluences pointing to bullishness, we still have the majority showing bullish signs. With the confluences we have on NZDUSD along with the technicals we have on the DXY we expect to see the USD continue its bearish move to the downside, pushing price higher on NZDUSD. This is what gives us our bullish bias. Stay Safe - The JPI Team Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We any comments at all so thank you! Disclaimer: This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Long
by jpeacockfx
16
NZDJPY to find buyers at market?NZDJPY - 24h expiry Previous support located at 84.25. Previous resistance located at 84.50. We have a 38.2% Fibonacci pullback level of 81.50 from 85.50 to 84.00. We expect a reversal in this move. Risk/Reward would be poor to call a buy from current levels. A move through 84.50 will confirm the bullish momentum. We look to Buy at 84.00 (stop at 83.60) Our profit targets will be 84.95 and 85.25 Resistance: 84.50 / 85.00 / 85.50 Support: 84.25 / 84.00 / 83.75 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Long
by OANDA
Buying NZDUSD at support.NZDUSD - 24h expiry - We look to Buy at 0.6325 (stop at 0.6250) Previous support located at 0.6325. Previous resistance located at 0.6400. Further upside is expected although we prefer to set longs at our bespoke support levels at 0.6325, resulting in improved risk/reward. A move through 0.6400 will confirm the bullish momentum. Our profit targets will be 0.6475 and 0.6500 Resistance: 0.6400 / 0.6475 / 0.6500 Support: 0.6325 / 0.6300 / 0.6250 Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
Long
by VantageMarkets
There is an analysis of the NZDUSD H1 chartWe used the theory of price action in order to conduct this analysis, so that we could guide our decision-making process. Based on the results of this analysis, we can see that the price is moving upwards while using the ascending channel to do so. In the past several months, the price has given us numerous pullbacks and bounce backs. In addition, the price has also tested the inner trend line in an attempt to complete the uptrend. However, near 0.64096, the price finally broke the inner trend line, giving us a short-term retracement, which gave us a new short-term downtrend. For more accuracy, we use Fibonacci levels. As of today, the price has already broken through the ascending channel and has held the support level of 0.62928 (61.80% of the Fibo). In the following days, we will be able to target the area where we can trade. 1.In the case of a price support moving down, the price is likely to move down and test the next support near 0.62928. If this support is broken, the price will enter a trend. 2.The target area near 0.63336 and 0.63745 is a retracement from the support area and a retest of the channel line; then price closes within the channel. With this analysis, you will be able to find your most profitable trade, since Enclavefx believes in enhancing the knowledge of our clients & followers.
by Enclave_fx
Will the NZD rally or reverse after the RBNZ rate decision? The NZD/USD has been on an uptrend since mid-October. However, this rally may be on a temporary halt as the pair hits the upper trend line on its downward channel, as shown below in the daily timeframe chart. For now, the long-term downtrend, since the start of the year, is still intact and could signal a possible reversal for the short-term rally for the New Zealand dollar. Fundamentals will be playing a huge part in the direction of the NZD/USD this week. The market is showing some risk aversion due to renewed lockdown worries in China and a possibility that the US Federal Reserve will not let up on its aggressive tightening cycle in the upcoming FOMC meeting. The focus for now, however, is the interest rate decision from the Reserve Bank of New Zealand (RBNZ) this Wednesday. Markets are widely expecting a 75-basis-points hike, but a 50-basis-points hike is still entirely possible, thus some volatility might be injected in the markets if expectations are not met. Back to the technical perspective, there is a double top formation with a gravestone Doji candle as the price fails to create a higher high above the 0.62000 area in the 4-hour chart. Using the Extreme Trend Reversal Points indicator (ETRP), we can identify if there is a probable reversal in this zone before the RBNZ rate decision. The triangle arrow from the ETRP signals that a possible reversal may happen in this area. However, considering the moving average, which is color-coded according to the trend strength, which is mainly green for extreme bullish, lime for bullish, silver for range, orange for bearish, and red for extreme bearish, is still indicating that the trend is still bullish. Traders who are looking for a sell signal confirmation could wait for the ETRP to change its moving average color to bearish before considering an entry.
N
by BlackBull_Markets
NZD falls from top 10 most traded currencies list A couple surprising notes have appeared in the Bank of International Settlements’ (BIS) survey released today (28/10/2022). The triennial (occurring every three years) survey was conducted with the involvement of monetary authorities, like central banks, from 52 territories as well as 1,200+ commercial banks. Trading volume increases Foreign exchange trading volume increased to US $7.5 trillion per day, which represents a +14% increase over the US $6.6 trillion daily trading volume recorded when the survey was last conducted in 2019. The sales desk in the United Kingdom, the United States, Singapore, Hong Kong, and Japan continued to dominate the processing of most trades, accounting for 78% or more of the trading volume. Interestingly, volume passing through the UK alone accounts for 38% of global trade, or US $2.6 trillion, however, this was down from 43% in 2019. Changing rankings The biggest surprise that was revealed in the survey was the changing hierarchy for the most traded foreign currencies. For one, the New Zealand dollar has fallen out of the rankings for the top ten most traded currencies in the world. The New Zealand dollar was overtaken by the Singapore dollar, Swedish krona, Korean won, and Norwegian krone, and is now the 14th most traded currency in the world. Even so, the New Zealand dollar’s popularity is still disproportionate compared to the size of the New Zealand economy with the New Zealand dollar on one side of US $125 billion worth of trades per day, representing 1.7% of all trades. While the rankings just outside the top ten experienced a shuffle, the US dollar remains the most traded currency in the world, accounting for one side of 88% of all foreign exchange trade. The top traded currencies in 2022 in the world are as follows: US dollar Euro Japanese yen British pound Chinese renminbi Australian dollar Canadian dollar Swiss franc Hong Kong dollar Singapore dollar Swedish Krona Korean won Norwegian Krone New Zealand dollar Indian rupee Mexican peso Taiwan dollar South African rand Brazilian real
by BlackBull_Markets
Buying NZDUSD on dips again.NZDUSD - 21h expiry - We look to Buy at 0.5625 (stop at 0.5550) Previous support located at 0.5625. Previous resistance located at 0.5700. Indecisive price action has resulted in sideways congestion on the daily chart. Risk/Reward would be poor to call a buy from current levels. A move through 0.5700 will confirm the bullish momentum. Our profit targets will be 0.5775 and 0.5800 Resistance: 0.5700 / 0.5775 / 0.5800 Support: 0.5625 / 0.5600 / 0.5550 Disclaimer – Saxo Bank Group. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like any and all indicators, strategies, columns, articles and other features accessible on/though this site (including those from Signal Centre) are for informational purposes only and should not be construed as investment advice by you. Such technical analysis are believed to be obtained from sources believed to be reliable, but not warrant their respective completeness or accuracy, or warrant any results from the use of the information. Your use of the technical analysis , as would also your use of any and all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features. Please also be reminded that if despite the above, any of the said technical analysis (or any of the said indicators, strategies, columns, articles and other features accessible on/through this site) is found to be advisory or a recommendation; and not merely informational in nature, the same is in any event provided with the intention of being for general circulation and availability only. As such it is not intended to and does not form part of any offer or recommendation directed at you specifically, or have any regard to the investment objectives, financial situation or needs of yourself or any other specific person. Before committing to a trade or investment therefore, please seek advice from a financial or other professional adviser regarding the suitability of the product for you and (where available) read the relevant product offer/description documents, including the risk disclosures. If you do not wish to seek such financial advice, please still exercise your mind and consider carefully whether the product is suitable for you because you alone remain responsible for your trading – both gains and losses.
Long
by Saxo
Did GBP/NZD hit a sell signal? The GBP/NZD has continued to sink from its recent high of 2.032 and is now well below the 2.000 level that the pair closed below on Tuesday. A major factor determining the movement of this pair is the respective inflation rates data from each country that was released this week. The annual Inflation rate for the United Kingdom rose back to 10.1% in September from 9.9% the month earlier, despite the Bank of England’s consistent rate hikes. Meanwhile, New Zealand’s inflation rate eased slightly in September to 7.2% from 7.2% the previous quarter. While the fall In the NZ inflation rate was practically insignificant, it is at least moving in the direction you would expect after consistent rate hikes from the Reserve Bank of New Zealand. Overall, GBP/NZD's outlook looks bearish from a technical perspective. For one, the Aroon Indicator in the 4-hour chart is signaling a sell. The Aroon blue ‘down line’, is currently travelling along at the 100.00% level, indicating that the trend favours the downside. Meanwhile, the Aroon red ‘up line’ is hovering just above the 0.00% area. According to this indicator, the closer a line is to zero the weaker the trend, thus the up line present here indicates a weak upside potential for the GBP/USD. Knowing this, traders might like to look for a break in the minor support area around 1.9730 for the price to continue at 1.96000 for a short-term trade. Further downside targets might include 1.9400 before encountering a solid demand zone. If support is formed in the 1.9400 area, buyers might want to wait for the Aroon Indicator to signal before taking a buy position for a possible retest at 1.9600.
by BlackBull_Markets
1
Reversal set for last week’s worst performing pairs? NZD/USDBy the close of last week's trading session, the top 3 worst performing currency pairs came out to be the USD/PKR (-4.91%), NZD/USD (-2.61%), and USD/SEK (-2.04%). To help determine the direction that these pairs will take this week, we will use the Hacolt Indicator (Vervoort Heiken-Ashi Longterm Candlestick Oscillator). Will the pairs continue to slide, or are they primed for a rebound in response to the huge selloffs? The Hacolt Indicator helps to confirm the strength of trends. When the indicator presents green, the market is expected to trend upward, and when it is red, it is expected to trend downwards. It can also be used as a trend switch signal, suggesting a potential turnaround or a pullback on the current trend. Starting with the USD/PKR, just like the USD/SEK, the Hacolt Indicator shows a green bullish signal. However, strong resistance at 240.00 created a double top formation on the daily timeframe, which resulted in last week’s downward move for the pair. The price may head towards 224.00 and even 217.50 if the Hacolt indicator gives a red bearish signal this week. For the NZD/USD, the Hacolt Indicator, on the other hand, shows a red signal which indicates that the pair is still on a downtrend. The trading candle last Friday also ended closing below the 0.5626 support area, which may suggest that the price for this week for the NZD/USD would likely continue going down, potentially targeting the lows from March 2020 at 0.5469. Lastly, the USD/SEK, and the Hacolt Indicator shows a green signal on the daily timeframe, possibly indicating that the uptrend is still in favor. This indication contrasts with the current downside move in the candles. If the Hacolt Indicator gives a bearish red signal this week, we might see the price retesting the 10.80 price level. A final target might be around the 10.45 support area. Overall, the trend is still bullish though, so look out for support formation in key psychological area around 11.00.
by BlackBull_Markets
GBP/NZD Fundamental, Technical & SignalFUNDAMENTAL ANALYSIS GBP/NZD Price Impacting Economic Events *( GBP upcoming events are important and leading economic indicators and WILL impact price during trade, increasing volatility and unpredictability ) ……………………………………………………………………………………. GBP TODAY Economic Events: - Unemployment Rate ( 3.8 same as previous ) - Unemployment Claims ( -20.1k higher than previous ) GBP Upcoming Economic Events - Year over Year inflation rates ( Forecasted 9.5, .4% higher than previous ) - Gfk Consumer Confidence ( Forecasted -44.0, -3.0 lower than previous ) - Retail Sales ( Forecasted -0.2%, -0.3% higher than previous ) - S&P Global/CIPS Manufacturing PMI Flash ( Forecasted 51.9, .9 lower than previous ) *GBP Economic Condition Thesis: Peak - Early Contraction - Overheated/reached peak, BoE ( Bank of England ) recognized, understands and expressed the upcoming of a slowing economy through forecasted rates for economic announcements. ……………………………………………………………………………………. NZD Previous Economic Events - .5% interest rare hike, total 2.5% interest rate - Business NZ PMI 49.7 ( falling below 50 supports contraction phase in equities market. Lowering earnings, income and free cash flow ) - Year over Year inflation rate 7.3%, higher than forecasted and previous - Quarter over quarter inflation rate 1.7%, higher than forecasted and lower than previous NZD upcoming economic events: - Balance of trade ( 398M forecasted to be higher than previous ) - ANZ Business confidence ( previous -62.6, supporting consumers decisions to spend less ) NZD Economic Conditions Thesis: Established contraction phase from reaching peak . Increasing inflation addressed with dovish interest rate hike. BUSINESS PMI and Confidence levels are well below healthy conditions supporting contraction phase in New Zealand's equity market caused by declining consumer spending and higher prices for goods and services. ………………………………………………………………..……………………. TECHNICAL ANALAYSIS Price Action: - Trading above Mid Term Downtrend( 8 months ), within short and long moving averages and near 52 week lows. Volume: - Relatively more selling than buying in most recent sessions and 1 random spike in both buying and selling volume above average 2 days short of 1 month. RSI: - Neutral between 50 - 25 Oversold Vortex: - Converged and starting to form a bearish cross above bullish trend momentum. ………………………………………………………………..……………………. SHORT SIGNAL: - Sell Limit 1.96600 - Profits 1.92700 - 1.89500
by charrison4300
NZDUSD BULLISH OUTLOOKNew Zealand's CPI rose to 7.3% from 6.9% in the first quarter. This prompts analysts to believe that RBNZ will raise the interest rate with more than anticipated in order to mitigate the roaring inflation. This expectations will resume most likely till the RBNZ August meeting where the decision for the interest rate will be made. Both MACD and RSI indicators are confirming this outlook. if it gets confirmed the pair might try to test its previous resistance level at 0.6365 If not, it might plumed back to its latest low of 0.60605 Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
Long
by legacyFXofficial
NZDUSD price might reverse next week, still BEARISH LONG TERMThe NZDUSD price is still playing the trend of going down, just like the other pairs with USD. And also, there might be a possible retracement next week given the fact that it looks exhausted on the indicators that we are using. However if we are going to look at the higher timeframe, it still looks bearish and just the start of it. I just said it might reverse next week because there is no pair that goes one direction, retracement is always part of it. PS. I am a swing trader and that is why I am saying it haha
Short
by nvrfxtrading
NZD/USD 4HR CHART SET UP BUYHi everyone this is my trade set up for the NZD/USD for the new week ahead NZD/USD is about to change to a bullish bias for me, so i am expecting a pullback to the order block zone and will be looking for a buy trade look for pullback to zone lined off on chart then if it meets your criteria for a trade then execute This is my analysis only please trade with caution and risk management in place good luck for this weeks trading please like and comment both are welcome
Long
by Costy13
6
NZD/CAD Long positionWe expect this to be the trade of the week as well as GBP/NZD. Our fundamental bias on this pair is tilted to the upside. we expect NZD strength due to the interest rate hike circle they are on. Market is expecting the RBNZ to raise rates tomorrow and bring forth they rate hike projections. We expect the CAD to be pressured as the oil prices are expected to drop by the intervention of the US and the OPEC. Technically we are looking at the pair to complete wave 3 in the minor degree.
Long
by MlungisiMpapane