Our pivot point stands at 69.95.
Our preference:
rebound towards 70.71.
Alternative scenario:
the downside breakout of 69.95 would call for 69.68 and 69.52.
Comment:
the RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 70.25 and 70.40).
Our pivot point stands at 70.71.
Our preference:
as long as 70.71 is support look for 71.47.
Alternative scenario:
the downside breakout of 70.71 would call for 70.44 and 70.27.
Comment:
the RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the pair is below its 20 MA (70.98) but above its 50...
Our pivot point is at 70.77.
Our preference:
the upside prevails as long as 70.77 is supported.
Alternative scenario:
the downside breakout of 70.77 would call for 70.49 and 70.33.
Comment:
the RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case)....
Our pivot point stands at 70.54.
Our preference:
the upside prevails as long as 70.54 is supported.
Alternative scenario:
the downside breakout of 70.54 would call for 70.28 and 70.13.
Comment:
the RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the pair is trading above both its 20...
I analyzed the market to capture the upcoming movements based on my technical knowledge . This idea is completely my view for knowledge purpose i'm sharing this .
The counter has formed a double bottom pattern at the lows.
Further, the hawkish statement from RBNZ is set to support the counter in the near-term.
Hence, we expect the pair to trade with positive bias in the near-term.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (70.60). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. NZDJPY is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic...
As you can that New Zealand Dollar have just break it support zone where I have interested in. and their is double top if you can find it. and MA has it diversions ad gonna cut 50 EMA. so I'll be look for the short opportunity in New Zealand dollar in my selected area and with my risk to reward ratio . hope you enjoyed
Trading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (72.65). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. NZDJPY is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic...
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (68.15). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. NZDJPY is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support....
