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Nzdusdforecast

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
1
NZDUSDThe New Zealand dollar has been falling sharply, due to risk-off sentiment hitting hard as concerns rise about the economic impact of the new omicron coronavirus variant. The USD is relatively strong, so this pair is a major focus of the Forex market and has seen lots of action, although the Australian dollar has been falling harder and getting more attention than the New Zealand dollar, with which it is highly correlated. The price of this currency pair ended last week right near its low after falling by more than 0.98%, closing at a 1-year low price with strong bearish momentum. These are all bearish signs and there is a good chance that the price will see another strong fall next week, so there will probably be an opportunity for a short trade here, although AUD/USD may be a better bet so be sure to be diversified between the two antipodean currencies if trading the NZD.
Short
by SmoothJB
NZDUSD 200+ PIPS?!looking for NZDUSD to start buying as the dxy drops. We are about to play into a nice orderblock/poi and i would like to see a reaction from there with bullish price action. There are two potential entries that you could take. I would risk 2% on the first entry and 1% on the 2nd entry DISCLAIMER: I am not a financial advisor and nor is this financial advice. Only risk what you can afford to lose. Trading live carries risk and you may make money or lose some or all of your capital. I am not liable for any gains or losses made
Long
by Turtlesoup_Maestro
NzdUsd- Correction is most likely overIn my previous NzdUsd analysis, I said that I'm bullish and I expect the price to rise to 0.73 resistance and at this moment my opinion is reinforced. After a short dip under support, the pair has reversed on Friday, and yesterday we have a strong bullish day that concludes a "Morning Star" candlesticks formation on out daily chart. NzdUsd looks prepared for more gains in the coming days and my target remains 0.73. Interim resistance is 0.7215 last high and only NzdUsd back under 0.71 would change this bullish perspective. Traders should look to buy dips on this pair
Long
by Mihai_Iacob
6
NZDUSD | Perspective for the new week | Follow-up detailsWe experienced close to 100pips move in our direction following my last speculation on this pair (see link below for reference purposes) and a Breakdown of Demand structure (a level that held price "supported" throughout last month) early in the month of November 2021 insinuates that the Kiwi might witness a risk of further decline in the coming week(s). From a fundamental perspective; a stronger than expected U.S. jobs report might bring the Fed closer to a rate hike which could put further pressure on the NZD/USD in the coming week(s), Let's see! Tendency: Downtrend (Bearish) Structure: Breakdown | Supply & Demand | Reversal pattern (Double Top look-a-like) Observation: i. After breaking out of Double Bottom Neckline on the 14th of October 2021 (see daily chart ), the Kiwi recorded a 3.42% growth over the Dollar to set the tone for a Bullish momentum in the long term. ii. However, after testing a temporary peak @ $0.72190, the price took a gradual nose dive, leading to a significant Breakdown of Key level during last week trading session. iii. As expected, I stated in my last speculation on this pair (see link below) that we should be getting ready for a possible correction phase of the Impulse leg which might retest the Neckline of the Double Bottom that instigated the previous rally (see daily chart) to confirm a trend continuation setup. iv. The appearance of a highly bearish technical reversal pattern on the chart which looks like a Double Top at $0.72190 & $0.72180 followed by a couple of Breakdowns of $0.71300 in the last week could be a sign that emphasizes the selling pressure accumulating under the Key level. iv. In this regard, I shall be looking out for selling opportunities below Key level with an opportunity to add to my existing position should price Breakdown/retest of $0.70850... Trade consciously!😊 NB: It is very possible that the early hours/days of the new week might see a price climb into the Supply zone cited within $0.71850/0.71550 to incite further decline. Trading plan: SELL confirmation with a minimum potential profit of 120 pips. Risk/Reward : 1:4 Potential Duration: 3 to 7days 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.
Short
by darcsherry
NZDUSD | Perspective for the new week | Follow-up detailsMy last speculation on this pair earned us over 200pips before the Bullish momentum began (see link below for reference purposes); Despite a long term Bullish perspective, I am beginning to see a short term opportunity to do a temporary sell on the Kiwi in the coming week as the Bears gear to step into the game. Tendency: Downtrend (Bearish) Structure: Supply & Demand | Reversal pattern (Double Top) Observation: i. After breaking out of Double Bottom Neckline on the 14th of October 2021 (see daily chart), the Kiwi recorded a 3.42% growth over the Dollar to set the tone for a Bullish momentum in the long term. ii. As it is now, it appears we are about to witness a correction phase into the Double Bottom Neckline (see daily chart) to incite a bullish trend continuation. iii. Double Top: An extremely bearish technical reversal pattern forming after price tested a peak two consecutive times with a moderate decline between the two highs ($0.72100/0.71900) is an emphatic signal that awaits confirmation in the mode of a fall below the support level which is also equal to the low between the two prior highs (Neckline @ $0.71500). iv. At this juncture, the Breakdown/Retest of the identified Neckline shall welcome an opportunity to open a position in the coming week. v. In the midst of a potential Breakout/Retest of Neckline, there is a possibility that the price might do a climb to test the identified "New Supply level" within $0.71800/0.71500 in the early hours/days of the new week to incite further decline in price... Trade consciously!😊 Trading plan: SELL confirmation with a minimum potential profit of 150 pips. Risk/Reward : 1:5 Potential Duration: 4 to 10days 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.
Short
by darcsherry