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Nzdusdidea

NZDUSD - Weekly UpdateRecent price action: Bearish Pattern: Head and shoulders Long-term momentum: Bullish/ranging Short-term momentum: Bearish Bias: Short Action: Need a break of neckline on head and shoulders pattern to indicate further movement to the downside. Comments: Price is moving exactly how I forecasted when the right shoulder was forming. High chance of getting a bounce back to the upside once weekly support it hit. Price has not been able to get below this level since April 2016.
Short
by tradingwithyg
NZDUSD - Monthly UpdateRecent price action: Bearish Pattern: Head and shoulders/Rising wedge Long-term momentum: Bullish/ranging Short-term momentum: Bearish Bias: Short Action: Already in a short sell. Signal was based on daily time frame. Will need a close below trend support and weekly support to confirm further movement to the downside. Weekly support will also function as the neckline for the head and shoulders pattern. Comments: Price is moving exactly how I forecasted when the right shoulder was forming. High chance of getting a bounce back to the upside once weekly support it hit. Price has not been able to get below this level since April 2016.
Short
by tradingwithyg
NZDUSD Short to 0.73243NZDUSD encountered so resistance just below the 0.74000 so I am expecting a small retracement back down to around 0.73243 area. This is a healthy retracement before it resumes its up trend to the 0.74000 I still believe that this pair will want to trade to 0.74000 longer term but for now I believe that a retracement is in the cards near term. This will be interesting to see pan out in a demo account and I will make updates to this thread if my bias changes.
Short
by WaterTree
NZDUSD reversing nicely below major resistance!Price is now reversing nicely below our major area of resistance from 0.7042 to 0.7084 (38.2% Fibonacci retracement, 100% Fibonacci extension, horizontal overlap resistance). Our next major level of support is at 0.6823 (Fibonacci extension, horizontal swing low support) and our next major level of resistance is at 0.7214 (Fibonacci retracement, horizontal swing high resistance). Stochastic (55,5,3) is seeing major resistance at 94% where a strong reaction could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
NZDUSD H4 Potential SetupAt the moment we have NZDUSD following a nice bullish channel, it has broken the daily trendline (dotted) however rejected a resistance level of 0.68961 . I will now be watching to see whether it continues to follow the bullish channel upwards if it falls to the trendline and rejects. If it does reject the trendline and remain bullish I can see it then breaking the resistance level that was earlier respected and continuing up. If not, it may break the channel and short to at least the 0.68300 level where it will meet a support which has previously held up. This evening we have four news releases coming out of New Zealand with regards to their trade balances and import / export numbers. Looking at the consensus of the releases it is a difficult one to be confident with, I will be waiting for either a move to the downside and a break of the channel or a rejection and upside movement to around the 0.69500 psychological level.
by JordanWillson