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Nzdusdsetup

NZDUSD BEARISH TRADE ANALYSISNZDUSD has completed a five-wave impulse move on the higher degree and a three-wave correction is expected to follow an impulse move according to the EW principle. The reversal is already in place as the price is making i-ii, (1)-(2) wave sequence. This kind of structure usually leads to a strong impulse decline in wave (3) of iii. Trade Plan: 1. Wait for the break of the green line for sell confirmation 2. The trade setup will be invalidated if the price breaches the red line, so we have our Stop Loss there. Do you want to learn how to spot this kind of setup? Kindly send me a DM. Best of luck on the chart, Veejahbee.
Short
by Veejahbee
2
US Election - NZDUSD Sell Trade SetupA week of high-volatility ahead of us in the FX market as the US presidential electio n is only a few days away. Sharp and unexpected price movement could happen around the time election results are announced and days after. So stay vigilant and trade safely. As you know I'm a pure technical guy! I don't care what the news says but rely on the pure price action for my trading decision. There is a lot of high-probability setups I'm watching this week but I would like to share the NZDUSD now. After the strong impulsive decline on NU, the price has been trading sideways and it contained within a parallel channel. The upper boundary of the channel has been tested about four times and also rejected a strong S&R level. I will be expecting further weakness on this pair in the days ahead. I will wait for the break of the green line for entry and my stop at red lines for both conservative and aggressive stop placement. What are you looking at this week? Will you be trading? Let me know in the comment Regards, Veejahbee.
Short
by Veejahbee
NZDUSD Trade Plan: Short After Correction is CompletedNZDUSD declines in a five-wave impulse pattern from the red level on the chart. According to Elliot Wave theory, a three-wave retracement follows every impulse move before price resumes in the direction of the impulse. As long as the price stays below the red level on the chart, I will be expecting further decline on NU once we see a decent corrective move. What's your thought on NU? Kindly let me know in the comment. Thank You. Veejahbee.
Short
by Veejahbee
2
NZDUSD - overdue a correction?Since 19th March 2020 when the price hit .5462 , the New Zealand Dollar has pushed impressively higher largely on the back of dollar weakness and currently stands at .6575. Price has even pushed through the strong historical resistance at .6581 but the move looks ever more unconvincing and having now reached the green upper flag which has held the price, the big question is could this be the start of a deeper correction? Resistance turned support at .6570 could offer the chance for the BULLS to gather and force prices higher and RSI reading are not overbought so we could easily see price head higher but a break of .6560 lower trend line could see a move back to solid support at .6382. On the H1 time frame the ADX is moving into BEARISH territory with D+ crossing over D- and the RSI has crossed down over the 50 day SMA. There remains general dollar weakness in the market so you'd expect this pair to push higher but as ever with FX , expect the unexpected. I'll be shorting this pair on a break of .6560.
by theforexportal
NZD/USD Technical Analysis.Currently, NZD/USD is trading at 0.6473. The pair is consolidating in the resistance and support wedges. Previously, the pair was trading in a down trend and after touching support level it started consolidating in the resistance and support levels. If the price breaks the resistance level at 0.6525, then it may start a new up trend and its target price will be at 0.6751. If the price breaks the support level at 0.6381, then it may start a new down trend and its target price will be at 0.6155. Follow a proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade. Do follow us for future Forex trend analysis and Ideas. Thank you, Rishikesh Lilawat
by rishililawat5
NZDUSD swingSo many confluences to make me go short on this, third tap on the inner structure trend line with the possibility for a retest on the outer trend line, trading at a key resistance area and at the .786 fib retracement. Will be shorting at a retest of the fib or the trend line. if it gets there corrective it will only add more confluence to go short. Will be targeting the low of the wick as wicks needs to be filled for a target of 1200 pips, then to either of the two fib extensions after that. This is a swing trade so going to be holding this trade for a while upon entry
Short
by TradingAfterCollege
1