NZDUSD | COULD THIS BE A NICE SHORT? - FOREX TRADING LIONS 🦁📈Hello Traders,
Looking at NZDUSD its currently giving us a bearish engulfing candle, although not yet closed on the daily timeframe, if this does close it shows bearish pressure.
We are also on a huge support zone and a squeeze pattern, if the supported zone gets broken then a push exhaustion push scenario is likely meaning it would be a good trade to short.
Nzdusdidea
NZD/USD Technical Analysis.Hello traders, NZD/USD is trading at 0.6996. The price is moving in a downward resistance and support channel, after reversing from resistance level it can start a new down trend. The entry price for the pair is at 0.6984, first target is at 0.6949 and second target price is at 0.6910.
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Rishikesh Lilawat
NZD/USD buy trade ideaNZD/USD has formed a strong bullish candlestick at the support level on the daily chart.
If the support holds, NZD/USD may continue the uptrend till at least 0.7110 level.
So, watch out for dips and buy if any such opportunity arises. Initial target can be
set at 0.7110 and if 0.71 breaks, 0.73 will be on the cards.
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Disclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions
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Disclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions
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NzdUsd- 0.68 is my medium term targetFor a month now NzdUsd is consolidating in a tight 100 pips range.
A break of this range is inevitable and the pair should find a clear direction afterwords.
In my opinion, this break will be to the downside and I'm considering 0.68 as a medium-term target for short trades.
A clear break above 0.73 would negate my bearish bias
NzdUsd- Big drop aheadIn my opinion, a big drop for NzdUsd is just around the corner.
The rise from 0.7 is clearly corrective in nature and 0.73 seems very strong resistance and bears are strong before that figure.
A break under the trend line would confirm my outlook and I expect at least 0.7 to be reached sooner rather than later.
Of course, a close above 0.73 would negate this bearish scenario
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Make sure you watch the price action closely in each analysis as this is a very important part of our method
Disclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions
NzdUsd- Drop to 0.7070 supportAfter a short-lived dive under 0.7 psychological figure, NzdUsd reversed and has risen above 0.72
In this liquidity zone, the pair found strong sellers and it looks like a dive to 0.7070 will follow from this point
I m bearish this pair as long as the price is under 0.7250
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Make sure you watch the price action closely in each analysis as this is a very important part of our method
Disclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions