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Nzdusdbreakout

How much longer can the kiwi sell off? How much longer can the kiwi sell off? On Wednesday, the Reserve Bank of New Zealand opted to maintain interest rates, coupling this decision with dovish remarks and forward guidance. Danske Bank economists anticipate a continued decline in NZD/USD in the upcoming year, setting a 12-month target at 0.5700. They think that the RBNZ contrasts with other G10 central banks which are apparently eyeing the start of their respective rate cutting cycles (which might be news to you, considering most expectations for rate cuts from other central banks are repeatedly being pushed back). Nevertheless, this sentiment led to a significant decline in the New Zealand dollar over the past two days, although it seems to be trying to find support. The 100 and 200-day simple moving averages emerge as notable hurdles for bearish sentiment on the daily chart. On the 4-hour chart, the next support level following these moving averages is at 0.6050, a critical level that previously served as resistance in October last year. Sustaining levels above 0.6070 could help sustain a positive outlook with the next target possibly around 0.6140, supported by signals from the RSI.
by BlackBull_Markets
NZ Economist's bold call opens opportunity in NZD? NZ Economist's bold call opens opportunity in NZD? Sharon Zollner, chief economist at ANZ (the country’s largest retail bank), says the RBNZ may lift interest rates to 6% at its next meetings in February (27th) and April. Zollner accounts for 25 basis points in each meeting. This could potentially open some targets to the upside in the NZD/USD, including a yearly high for the pair. On its way up, we might want to see little hesitation in the recent consolidation band of 0.62130 and 0.62611 before this eventuates though. Zollner pointed out that a series of "small but unwelcome data surprises" was enough to kickstart the hiking cycle again. She mentioned that it's not uncommon for central banks to resume hiking after a break, citing three instances when the Reserve Bank did so after the 2007 Global Financial Crisis. Obviously Zollner's prediction is only that, a prediction (and perhaps biased at that?). On the flip side, Kelly Eckhold, the chief economist at Westpac (New Zealand's second-largest retail bank), disagreed with the market predictions of another rate hike, countering Zollner's hawkish stance. Eckhold interpreted the new data to suggest a "higher for longer" scenario, expecting rates to stay at 5.50% until 2025. Which might not exactly be bad news for the upside prospects of the NZD/USD too.
by BlackBull_Markets
NZDUSD Technical Analysis And Trade Idea The NZDUSD has shown notable upward momentum, reaching a significant resistance point on both daily and weekly charts. This video offers an extensive analysis, carefully scrutinizing price actions and uncovering potential trade prospects through comprehensive assessments across various timeframes, spanning from weekly down to 15-minute intervals. Expect a thorough examination encompassing price fluctuations, market trends, trend assessments, and critical technical analysis elements. It's essential to highlight that the insights shared in this video are purely educational and should not be construed as financial guidance.
Long
by fxtraderanthony
NZDUSD Looking BearishCertainly. Here's a rephrased version along with an explanation: We recently observed a market response following our decision to initiate a sell position at 0.6122 on the 4-hour (H4) chart. This decision was based on identifying a resistance level that overlapped with the current market conditions. In order to set clear risk and reward parameters, we established a profit target at 0.6064. This target aligns with an overlapping support level, indicating our expectation for a downward price movement. To manage potential losses and protect our trade, we strategically placed a stop loss at 0.6189. Notably, this stop loss coincides with another overlapping resistance level. This placement aims to limit losses in case the market moves against our sell position, providing a risk management strategy aligned with the identified chart patterns.
Short
by HUMCRYPTOCLUB
#NZDUSD: 600 PIPS BUYING OPPORTUNITY Hey everyone, NZDUSD is approaching a perfect buying zone, price recently dropped heavily and will continue dropping for another few days. We need to wait for a daily candle to close in a strong bullish behavior once it does, we can enter accordingly. Like our work? Then Like and comment, most importantly follow our page so you never miss out of any big trade setup/ideas. Thanks as always for showing incredible support towards us ;)
Long
by Setupsfx_
48
NZDUSDDear Traders, Our overview remain bullish as in our previous chart that we had explained it, right now price is in very tricky sport while dxy did not make any strong retracement since last week and has continued dropping in this week too. It is hard to clearly pin point when DXY will retrace so we kept that thought in mind and we think price of NZDUSD will continue the bullish momentum. This idea is swing move, please use smaller time frame for entries, like and comment if you agree with the idea. thanks a lot ;)
Long
by Setupsfx_
1
NZDUSD MID-WEEK ANALYSIS-UPDATE 24/09/2023Eyeing a Bullish Reversal After 3-Day Bearish Stint In the wake of a recent three-day bearish run in the NZD/USD pair, we're seeing intriguing signs that suggest a potential market shift. This coincides with the dynamic between the New Zealand Dollar (NZD) and the US Dollar (USD), fueling expectations for a bullish reversal in the NZD/USD. Join us as we closely monitor this currency pair's trajectory in the days ahead. Remember, trading carries inherent risks, so stay vigilant and adapt your strategy to the evolving market trends. Happy trading! 📈💰 #NZDUSDForecast #BullishReversal #TradingView
Long
by Dion-FX
NZDUSD Weekly Short Trade Setup Good morning everyone, its been a while since my last published idea, nonetheless, here we have NZDUSD on the weekly timeframe giving us a breakout and then a retracement back the RZ 1. Typically in these cases you may get a pullback to RZ 2 but, overall I think this will drop in the next upcoming weeks. You can also some liquidity which form on the RZ 1 pullback. Give this trade some time. Remember, it's based off the weekly, daily seems to choppy which will cause some slowdowns before the big drop. Don't forget NFP tomorrow, this may be the push down it needs or maybe the retest to RZ 2. I guess we will find out soon. Happy Trading everyone !!!!
Short
by Vic_Tech_Trader
20 Reasons for Buy NZDUSD🔆MULTI-TIME FRAME TOP-DOWN ANALYSIS OVERVIEW☀️ 1:✨Eagle eye: A completely bearish trend is in place. The last low was created in 2001, followed by a BOS (Breakout of Structure) that occurred in 2011. The market then entered a correction phase and formed a valid lowest level in 2020 with a big hammer and heavy volume. This indicates that the market may have formed a higher low and could potentially continue its bullish journey. Currently, the market is making an inside hammer move and coming down for a liquidity grab. Price has reached an extreme level, and if we closely observe, we'll notice that each candle has lower-side wicks. 2:📆Monthly: Despite the overall bearish trend, there is a valid low formed, and at that low point, there is a significant volume which indicates a strong buying area. If we look at the closing of November 2022, there is a big doji candle followed by big bullish momentum moves. The current month's candle also shows a similar character. 3:📅Weekly: A triangle pattern is forming, and it has almost narrowed down according to the timeframe or the triangle's nature. If we check the ratio of bullish and bearish candles from the last low to the current candle, we can clearly observe powerful bulls in control. The internal structure forms a bearish CHOCH, but it immediately creates a fakeout, turning the bearish CHOCH into a bullish pattern. Take this into consideration. 4:🕛Daily: Price has taken an inducement and is now following recent order flow. The last valid low is at the same level, and prices have been moving sideways from this point, forming a triangle. The breakout of this triangle will define the next move of the market, and there is a possibility of an upside breakout. 😇7 Dimension analysis 🟢 analysis time frame: Daily 5: 1 Price Structure: Bullish to sideways, corrective move completed with a valid low and demand area. 6: 2 Pattern Candle Chart: Headfake chart, triangle, LH (Lower High), momentum candle. 7: 3 Volume: High volume at the lower high indicates a signal of profit booking. After heavy volume, prices have not gone further down, instead moving upside. 8: 4 Momentum UNCONVENTIONAL RSI: Sideways but in the bullish zone. 9: 5 Volatility measure Bollinger Bands: The bands are in a full squeeze, and the breakout of the squeeze will finalize the entry. If it breaks upside, take a long position immediately. 10: 6 Strength ADX: Sideways. 11: 7 Sentiment ROC: USD is weak, and NZD is strong. ✔️ Entry Time Frame: H4 12: Entry TF Structure: Bullish CHOCH. 13: Entry Move: Impulsive. 14: Support Resistance Base: Trendline breakout. 15: FIB: Activated on the daily timeframe. ☑️ Final comments: Buy at the breakout. 16: 💡Decision: Buy. 17: 🚀Entry: 0.6232. 18: ✋Stop Loss: 0.6168. 19: 🎯Take Profit: 0.6466. 20: 😊Risk to Reward Ratio: 1:2. 🕛 Expected Duration: 20 days.
Long
by Optimum369