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New Zealand Dollar / U.S. Dollar

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NZDUSD trade ideas

NZD/USD: Bearish Reversal Signal with Key ConfluencesThe NZD/USD pair is currently exhibiting signs of a potential bearish reversal, highlighted by the formation of a Bearish Butterfly Harmonic Pattern . This pattern, when combined with the key technical confluences identified, supports a strong bearish outlook for the pair in the short to medium term. Bearish Butterfly Harmonic Pattern: The Bearish Butterfly Harmonic Pattern has formed near a critical resistance zone, suggesting a potential price reversal. The confluence of this pattern with the 78.6% Fibonacci retracement level on the weekly chart further reinforces the bearish sentiment. The harmonic pattern's completion at this juncture is a significant indication that the upside momentum may be waning. Key Resistance and Trendline Confluence: Price has recently tested and rejected a key resistance level, which aligns with both the descending trendline and the 78.6% Fibonacci level on the weekly chart. This rejection adds credibility to the bearish bias, as it suggests that sellers are stepping in to defend this area. RSI Divergence on 4-hour time frame: An additional layer of confluence is provided by the RSI divergence observed on the 4-hour timeframe. The RSI has shown a bearish divergence, indicating weakening bullish momentum. This divergence often precedes a trend reversal, further supporting our bearish outlook for NZD/USD. Trade Plan: Given the confluence of these technical factors, the following trade setup is recommended: Entry: 0.61970 Stop Loss: 0.62400 Take Profit Targets TP-1: 0.61540 TP-2: 0.61110 TP-3: 0.60680 Risk Management: This trade setup offers a favorable risk-to-reward ratio, with tight risk management in place. The stop loss is placed just above the key resistance level to protect against potential false breakouts. Conclusion: The combination of the Bearish Butterfly Harmonic Pattern, key resistance rejection, trendline confluence, and RSI divergence points to a strong bearish case for NZD/USD. Traders should consider entering the trade at the specified levels, with a clear focus on the risk management strategy outlined above. Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Please conduct your own research and consult with a licensed financial advisor before making any trading decisions.
Short
by trading_jupiter
NZDUSD → Attempt to change the trend amid falling dollarFX:NZDUSD is strengthening from the opening session amid the dollar's return to southward movement. Traders are intensifying USD sell-offs amid expectations of interest rate cuts... Despite the New Zealand Central Bank's interest rate cut, the USD sell-off is more active on the currency pair. The dollar is forming a retest of support, which increases the chances of further decline in the price amid strong sell-offs. The currency pair is testing the resistance at 0.6083, but at the moment there is a high probability of correction to the imbalance zone. The reason is that we approached the zone too quickly, we need to accumulate the pre-breakout potential. But, if the bulls manage to consolidate above the resistance, then the market will move to the realization phase after the trend line breakout. Resistance levels: 0.60828, 0.61475 Support levels: 0.6036 Fundamentally, the environment points to the continuation of growth. Technically, the bulls will have to pass through the trigger at 0.60828 to start the realization phase. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:NZDUSD ;) Regards R. Linda!
Long
by RLinda
2
NZDUSD**NZDUSD Price Action Analysis – Monday, August 26** From a price action perspective, the overall trend of the NZDUSD pair is bullish, and the short-term structure is expected to remain inclined towards an upward movement. As a result, the price may bounce off the pivot level and head towards the first resistance. - **Pivot Level: 0.6202** - This level aligns with other price levels and could lead to increased buying pressure. - **First Support: 0.6127** - This support represents a key technical reversal level and may limit further downward movements. - **First Resistance: 0.6339** - This resistance marks a recent turning point and could see heightened selling pressure around it.
by FXSMARTT
4
Waiting for a retest near new supportGold is still bullish at the moment until after the US election, this analysis is based on correlation of Gold with Kiwi. My recent analysis of last month of this pair of a possible short played out in the opposite direction. But coming into a new month and into the end of the Quarter I see price being still bullish and trending towards last years high and major resistance (0.65204).In my opinion a possible retest near 0.6200 near the 13 and 50 ema with clear bullish signals could signal a clear uptrend continuation which could possible trend until reaching a new resistance which is near last years high.
by KhoraCapital
NZDUSD moving higher now**Monthly Chart** NZDUSD last month's candle closed as a bearish high test after sweeping liquidity above 0.62000 level (Round number). This month (July 2024 - Still active) tested the midway of the previous month's candle and pushed to May 2024 (bullish candle) Demand Zone. It is also April 2024 low. **Weekly Chart** Last week NZDUSD closed lower after an aggressive sell-off for the past two weeks. The candle closed as a bearish candle. This week I will look for a buy setup around the demand zone if there is a low-risk entry on lower time frames. **Daily chart** This week, I will wait for the price to take liquidity below the 0.58858 level before entering long. Wait for the price to tell you when on lower time frames (ie. 4H and 1H).
Long
by PropSignals
NZD is ready to be sold against the USDI don't love engulfing candles but I like the pin bar the day before yesterday. I think the rally has stalled here and the kiwi should pull back at least to .61. I suspect it'll go lower but I'll be managing my trade pretty closely if it goes my way and gets to 61 cents. My stops are alway 1.5x average daily range on reversal trades like these. Obviously I only have one idea at the moment and it's to fade dollar weakness around here so need to be mindful of total risk allocation across any of these trades (correlation of course). It's one trade against a few different pairs and they might just be wrong altogether.
Short
by Oldrope4sale
NZDUSD Sell SetupThe NZDUSD pair has hunted major liquidity in the higher time frame, which is causing a reaction, or at least some signs of it, in the lower time frame. We're currently watching the 15minute chart, where we expect to see some bearish movements. The bearish change of character in the lower time frame can be considered the first confirmation for setting up a sell position for this pair. Here are the levels I would set: Entry level: 0.61548 Stop loss: 0.61716 Take profit: 0.61330 Please note that this analysis is not intended as financial advice. Each individual should assume responsibility for their own trades. The purpose of this post is to provide ideas and inspiration, encouraging readers to view the chart from different perspectives. Always conduct your own research and analysis before making any trading decisions.
Short
by Biaxar