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Nzdusdsignal

NZDUSD | Perspective for the new week As the Russia-Ukraine headlines worsen the market mood, we witnessed rejections of the $0.67 area during last week trading session to impose a shadow of doubts on the potential of the Kiwi going into the new week. However, with current technical structures; I suspect that the acceptance of above the $0.6700 might give a sense of comfort to push the price higher in the coming weeks with $0.66500 serving as a baseline for the formation of a new trend. Tendency: Uptrend (Bullish) Structure: Supply & Demand | Trendline | Reversal pattern (Double Bottom) Observation: i. For over a year now, the Kiwi has been on a downward spiral as it dropped 12.5% against the USD. ii. If we look at the weekly chart, we will notice that price came back to a significant demand level around $0.655 late in January 2022 which was immediately followed by bullish momentum. iii. Hence, I have projected a potential trendline (bullish) on the chart to guide us in taking advantage of a bullish momentum if it eventually happens in the coming week(s). iv. A breakout/retest of the key level at $0.67500 should present an opportunity to add to our existing position. v. Please note that the bullish trendline projected on the chart is serving as our yardstick as any break below will render the narrative invalid... Trade consciously!😊 Trading plan: BUY confirmation with a minimum potential profit of 200 pips. Risk/Reward : 1:4 Potential Duration: 7 to 20 days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
NZD/USD: Selling Pressure Remains the Story, Lows ChallengedThe NZD/USD fell to a low of nearly 0.67370 in early trading this morning, breaking through important support demonstrated the past few days of trading. This morning’s low also touched long-term values which had not been exhibited since October of 2020. After hitting today’s low, the NZD/USD was able to stage a reversal higher, but the pair remains below resistance levels which could prove to be a significant indicator if the current lower value range continues to be sustained. Since trading at a high of about 0.72180 on the 21st of October the NZD/USD has incrementally lowered. However, the real surge lower which appears to have signaled bearish momentum may take hold in a demonstrative fashion occurred on the 22nd of November, when the NZD/USD broke below the 0.70000 and was not only able to maintain values below this important psychological juncture, but seemingly exhibit price velocity which showed other support levels were vulnerable. On the 1st of December the NZD/USD was near the 0.68650 mark and the Forex pair still has not been able to prove it can sustain a bullish move higher that is durable. The USD has been strong against many major currencies recently as the U.S. Federal Reserve seems to have created the belief it will be more hawkish regarding its monetary policy moving forward. Intriguing technical charts certainly continue to show a lack of ability regarding the NZD/USD to create a reactionary bullish winning streak. Speculators who want to be contrarian and wager on upside momentum developing are certainly fighting the trend. Traders who want to be buyers with short-term positions should not be overly ambitious and perhaps target limited upside cyclical moves. Targeting the 0.67900 to 0.67950 marks may be justifiable, if the trader is using their risk management wisely. Speculators who want to continue to pursue downward trajectory cannot be faulted. While some traders may believe the NZD/USD has been oversold, long-term charts plainly show the pair has the capability to traverse lower values. If support near the 0.67450 to 0.67400 ratios begins to see a test and break below these marks, traders may begin to anticipate stronger moves lower which could ultimately test the 0.67000 juncture. NZD/USD Short-Term Outlook Current Resistance: 0.67970 Current Support: 0.67430 High Target: 0.68260 Low Target: 0.66950
Short
by SmoothJB
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