Weekly FOREX Forecast: USD Is Strong Vs EUR, GBP, AUD NZDThis is an outlook for the week of Nov 4 - 8th.
In this video, we will analyze the following FX markets: USD Index, EUR, GBP, AUD, and NZD.
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NZDUSD Bullish Week**NZD Dollar Value Correlation to USD
>We are now in the Oversold region Signaling for a bullish trend week.
Note: Every time we get Oversold Readings (Green Vertical Lines) we always get a Bullish Move
**Election Year Seasonality forecast
>Bullish until early next Week.
Technicals:
>Price al
NZD Approaches Key Supply Zone: A Potential Short OpportunityThe New Zealand dollar is approaching a critical supply area that has captured our attention, signaling a potential opportunity to set up a short position. This zone is key, and we are closely monitoring for a possible test of this area to confirm our bearish setup. However, it's important to note t
6N HL MTR from demand areaPossible range trade, and best case MM Up
- Target range top
- Target 2 Range width up
- Target 3 Trend leg up
Possible Expanding Triangle - New Zealand DollarA possible expanding triangle setup on the 4hour of the NZD. Assuming the US Dollar continues with strength we could possibly see a D wave to around 0.60470 for NZD.
Wave A represents 38.2% of the last downtrend wave in expanding triangle.
Wave B represents 1.272% of wave A in expanding triangle.
W
What’s ahead for the dollar?As the year draws to a close, it's an opportune time to evaluate the potential trajectory of the dollar going forward.
From a broader perspective, we anticipate a regime shift for the dollar in 2024, potentially marking significant turning points for the major dollar pairs. Notably, since the 1
NZDUSDNZDUSD is ready to Sell. Every good setup is most probable trade not 100%. Always use money Management.
NZDFinancial Losses: Trading in the Forex market carries the risk of financial loss. It's important to carefully assess your financial situation and only invest funds that you can afford to lose without affecting your lifestyle or essential financial obligations.
NZD Futures NASDAQ:NZD futures retracted to 618 and looks as if it will make a long slide down.
Daily support level 0.60100 🎯
Safe to short NASDAQ:NZD currency pairs this week.
Short New Zealand DollarThe last COT index signal was bearish. The saisonality show a strong bearish trend for the next weeks. Addtionally, the price was rejecte twice in the red resistane box. Next support expected at 0.62.
SL: 0.6601
Target 1: 0.62
Target 2: ~0.58 (suppot by red trendline)
RR (Target 2): 1.7
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A representation of what an asset is worth today and what the market thinks it will be worth in the future.
Displays a symbol's price movements over previous years to identify recurring trends.
Frequently Asked Questions
The current price of New Zealand Dollar Futures is 0.59620 USD — it has fallen −0.96% in the past 24 hours. Watch New Zealand Dollar Futures price in more detail on the chart.
The volume of New Zealand Dollar Futures is 34.94 K. Track more important stats on the New Zealand Dollar Futures chart.
Open interest is the number of contracts held by traders in active positions — they're not closed or expired. For New Zealand Dollar Futures this number is 61.99 K. You can use it to track a prevailing market trend and adjust your own strategy: declining open interest for New Zealand Dollar Futures shows that traders are closing their positions, which means a weakening trend.
Buying or selling futures contracts depends on many factors: season, underlying commodity, your own trading strategy. So mostly it's up to you, but if you look for some certain calculations to take into account, you can study technical analysis for New Zealand Dollar Futures. Today its technical rating is strong sell, but remember that market conditions change all the time, so it's always crucial to do your own research. See more of New Zealand Dollar Futures technicals for a more comprehensive analysis.