Get started

Nzdshort

NZD falls from top 10 most traded currencies list A couple surprising notes have appeared in the Bank of International Settlements’ (BIS) survey released today (28/10/2022). The triennial (occurring every three years) survey was conducted with the involvement of monetary authorities, like central banks, from 52 territories as well as 1,200+ commercial banks. Trading volume increases Foreign exchange trading volume increased to US $7.5 trillion per day, which represents a +14% increase over the US $6.6 trillion daily trading volume recorded when the survey was last conducted in 2019. The sales desk in the United Kingdom, the United States, Singapore, Hong Kong, and Japan continued to dominate the processing of most trades, accounting for 78% or more of the trading volume. Interestingly, volume passing through the UK alone accounts for 38% of global trade, or US $2.6 trillion, however, this was down from 43% in 2019. Changing rankings The biggest surprise that was revealed in the survey was the changing hierarchy for the most traded foreign currencies. For one, the New Zealand dollar has fallen out of the rankings for the top ten most traded currencies in the world. The New Zealand dollar was overtaken by the Singapore dollar, Swedish krona, Korean won, and Norwegian krone, and is now the 14th most traded currency in the world. Even so, the New Zealand dollar’s popularity is still disproportionate compared to the size of the New Zealand economy with the New Zealand dollar on one side of US $125 billion worth of trades per day, representing 1.7% of all trades. While the rankings just outside the top ten experienced a shuffle, the US dollar remains the most traded currency in the world, accounting for one side of 88% of all foreign exchange trade. The top traded currencies in 2022 in the world are as follows: US dollar Euro Japanese yen British pound Chinese renminbi Australian dollar Canadian dollar Swiss franc Hong Kong dollar Singapore dollar Swedish Krona Korean won Norwegian Krone New Zealand dollar Indian rupee Mexican peso Taiwan dollar South African rand Brazilian real
by BlackBull_Markets
Did GBP/NZD hit a sell signal? The GBP/NZD has continued to sink from its recent high of 2.032 and is now well below the 2.000 level that the pair closed below on Tuesday. A major factor determining the movement of this pair is the respective inflation rates data from each country that was released this week. The annual Inflation rate for the United Kingdom rose back to 10.1% in September from 9.9% the month earlier, despite the Bank of England’s consistent rate hikes. Meanwhile, New Zealand’s inflation rate eased slightly in September to 7.2% from 7.2% the previous quarter. While the fall In the NZ inflation rate was practically insignificant, it is at least moving in the direction you would expect after consistent rate hikes from the Reserve Bank of New Zealand. Overall, GBP/NZD's outlook looks bearish from a technical perspective. For one, the Aroon Indicator in the 4-hour chart is signaling a sell. The Aroon blue ‘down line’, is currently travelling along at the 100.00% level, indicating that the trend favours the downside. Meanwhile, the Aroon red ‘up line’ is hovering just above the 0.00% area. According to this indicator, the closer a line is to zero the weaker the trend, thus the up line present here indicates a weak upside potential for the GBP/USD. Knowing this, traders might like to look for a break in the minor support area around 1.9730 for the price to continue at 1.96000 for a short-term trade. Further downside targets might include 1.9400 before encountering a solid demand zone. If support is formed in the 1.9400 area, buyers might want to wait for the Aroon Indicator to signal before taking a buy position for a possible retest at 1.9600.
by BlackBull_Markets
1
Reversal set for last week’s worst performing pairs? NZD/USDBy the close of last week's trading session, the top 3 worst performing currency pairs came out to be the USD/PKR (-4.91%), NZD/USD (-2.61%), and USD/SEK (-2.04%). To help determine the direction that these pairs will take this week, we will use the Hacolt Indicator (Vervoort Heiken-Ashi Longterm Candlestick Oscillator). Will the pairs continue to slide, or are they primed for a rebound in response to the huge selloffs? The Hacolt Indicator helps to confirm the strength of trends. When the indicator presents green, the market is expected to trend upward, and when it is red, it is expected to trend downwards. It can also be used as a trend switch signal, suggesting a potential turnaround or a pullback on the current trend. Starting with the USD/PKR, just like the USD/SEK, the Hacolt Indicator shows a green bullish signal. However, strong resistance at 240.00 created a double top formation on the daily timeframe, which resulted in last week’s downward move for the pair. The price may head towards 224.00 and even 217.50 if the Hacolt indicator gives a red bearish signal this week. For the NZD/USD, the Hacolt Indicator, on the other hand, shows a red signal which indicates that the pair is still on a downtrend. The trading candle last Friday also ended closing below the 0.5626 support area, which may suggest that the price for this week for the NZD/USD would likely continue going down, potentially targeting the lows from March 2020 at 0.5469. Lastly, the USD/SEK, and the Hacolt Indicator shows a green signal on the daily timeframe, possibly indicating that the uptrend is still in favor. This indication contrasts with the current downside move in the candles. If the Hacolt Indicator gives a bearish red signal this week, we might see the price retesting the 10.80 price level. A final target might be around the 10.45 support area. Overall, the trend is still bullish though, so look out for support formation in key psychological area around 11.00.
by BlackBull_Markets
NZDUSD - 240 MINS CHARTThe Structure looks good to us, waiting for this instrument to correct and then give us these opportunities as shown on this instrument (Price Chart). Note: its my view only and its for educational purpose only. only who has got knowledge about this strategy, will understand what to be done on this setup. its purely based on my technical analysis only (strategies). we don't focus on the short term moves, we look for only for Bullish or Bearish Impulsive moves on the setups after a good price action is formed as per the strategy. we never get into corrective moves. because it will test our patience and also it will be a bullish or a bearish trap. and try trade the big moves. we do not get into bullish or bearish traps. we anticipate and get into only big bullish or bearish moves (Impulsive moves). Just ride the bullish or bearish impulsive move. Learn & Know the Complete Market Cycle. buy low and sell high concept. buy at cheaper price and sell at expensive price. Keep it simple, keep it Unique. please keep your comments useful & respectful. Thanks for your support....
Short
by Tradelikemee
AUD/NZD Short SignalChart Analysis Technical Analysis: - Price recently fell below a long term uptrend upper trend line and trading in a tight range near the lows of full range. - Price seems to be forming either a rising wedge *(bearish chart pattern) or a triangle wedge *(bear or bullish chart pattern). Supporting the indecision and why price trading in tight range BUT......slight rising wedge chart pattern, downward price movement and strong resistance level pushes more towards a weakening bullish starting to turn bearish. - Selling volume spikes above average has been around economic event announcements. - RSI giving a weak sell signal because price is above moving averages and vortex indicator is still bullish but with a narrow gap. Signals: (Recommendations and doesn't guarantee profits or losses) - Scalp Trade - Sell Limit: 1.11000 - 1.08000 - Take Profits: 1.10300 - 1.09700 - Reward/Risk Ratio: 2/3:1 - Day/Swing Trade: - Sell Limit: 1.10200 - 1.10100 *ENTRY AFTER PRICE FALLS BELOW AND RETEST MOVING AVERAGE AND WEDGE SUPPORT LEVEL (ASSUMING A BREAKOUT BELOW SUPPORT LEVELS) - Take Profits: 1.09700 - 1.0300 - Reward/Risk Ratio: 2/3:1
Short
by charrison4300
NZD/USD I ANALYSIS Dec. 20Hello Traders, here's an analysis of this pair. Let us know in the comments section below if you have any questions or share your thoughts. Red is sell zone, white it take profit zone, and grey is buy zone (if shown). Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please simply "like" or comment on this trade idea with your thoughts/feedback or questions. Thanks for your continued support! Brian Kenya Horton, BK Forex Academy
Short
by BKTradingAcademy