Nzdusdsetup
NZDUSD to continue lower?Why is this so?
Price following the double top & bearish divergence pattern.
Price re-tested DT neckline but failed with bearish reversal.
Combination of inside bar and key reversal usually indicating that price to accelerate lower towards 0.6600.
Already sold at 0.6825.
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NZDUSD long swing tradeHi traders,
this is my buy setup for NZDUSD on daily timeframe.
As you can see the price have find support in the golden zone and have build a higher low
on the D1 chart. This give us a good Idea to go long with a swing trade long setup.
I wish you a good trading week.
Best wishes Stefan Forex
NZDUSD to drop 130 pips?Here's a weekly chart of NZDUSD. It has recently retraced to the 38.2 retracement and is now on its way to the 0.68191 support which has held for more than a year now. We have RBNZ Interest rate decision this week so keen to see how that will affect this support area - whether it helps break it or support it
NZDUSD - Daily UpdateRecent price action: Bullish
Pattern: Rising wedge
Long-term momentum: Ranging
Short-term momentum: Bearish
Bias: Short
Action: Already entered a short position for this pair; however, I would like to see a break and hold of short-term trend support on the daily chart. Do not add any more positions until price confirms movement to the downside.
Comments: Major slow down in price. SImilar to what is happening with DXY. Most U.S. pairs are reaching weekly S/R. Hopefully, the dollar can push through and majors will follow.