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Nzdusdforecast

NZDUSD Trading Plan for Daily/WeeklyNZDUSD Peace be Upon You and Good Day, Please do correct me if i am wrong. Really appreciate your comments on the trading plan. There are 2 zones that needs to be checked if theres any indication whether the price will be bearish or otherwise. 1st zone would be at 0.70760 - 0.71024 (marked with the red arrow) 2nd zone would be at 0.71024- 0.73284 (marked with the red arrow) Supporting Analysis 1. Weekly has made a divergence beforehand as an indicator the price will be bearish. 2. Now weekly has made a convergence, which means the rallying price is a correction move. Reaching the first zone. If it breaks the zone, lets wait at the 2nd zone for the sell position. 3. Daily has not shown any sign of the price would be bearish. 4. H4: Divergence of AO will appear at either of the 2 zones as a confirmation for bearish move. Candle break (engulfing) for the fibonacci retracement zones will also needs to appear at either of the 2 zones as a confirmation for the bearish move. 5. Elliot wave 3 and 5 is has appeared at weekly. Now the correction move, ABC is in progress. Wave B at either 2 zones should be completed soon enough. Wave C is the bearish move of the pricing. Take Profit Area: 0.66917 - 0.65900 SHORT TERM: BUY till either at the 2 zones MID TERM: SELL till the take profit area LONG TERM: TBA Trade at your own risk and have a great day! Please do share your thoughts. Cheers!
Short
by SalamTrader
NZDUSD : LOST ON YOUHi traders! This will probably be the only trade I'm going for before the FOMC Statement this week. As you can see, NU is in a bearish trend that stopped itself for a breather! The price is now ranging and making lower high and higher lows. Technically, I see and drew a wedge pattern on the last batch of candles. It looks to me that we can stay within this range until it breaks. If the Fed stay true to its word and hike the rates, it should boost further the USD making this pair going for newer 12-month lows! DXY also has been going up past few weeks now.. suggesting that a new bull trend may be in the works! Here's what I'm thinking : NZDUSD SHORT ENTRY : 0.69134 SL : 0.69727 TP : 0.66871 Trade safe! Disclaimer: This is my trading analysis, it is not an invite or recommendation to trade.
Short
by ScottMescudiForex
NZDUSD H4 Potential SetupAt the moment we have NZDUSD following a nice bullish channel, it has broken the daily trendline (dotted) however rejected a resistance level of 0.68961 . I will now be watching to see whether it continues to follow the bullish channel upwards if it falls to the trendline and rejects. If it does reject the trendline and remain bullish I can see it then breaking the resistance level that was earlier respected and continuing up. If not, it may break the channel and short to at least the 0.68300 level where it will meet a support which has previously held up. This evening we have four news releases coming out of New Zealand with regards to their trade balances and import / export numbers. Looking at the consensus of the releases it is a difficult one to be confident with, I will be waiting for either a move to the downside and a break of the channel or a rejection and upside movement to around the 0.69500 psychological level.
by JordanWillson