NZDUSD trade ideas
NZDUSD LONG SETUPAccording to my analysis in 1hr chart of NZDUSD I can see a break of structure of a downtrend. Also break of a resistance. Now I wait for the market to retest the previous resistance that now act as support. Rejection to the upside from that support confirms my long entry. I personally set my stop loss at 25 pips from entry point and target at 40 pips.. U can vary stops and target according to your strategy. This is only for analysis ..please do double check before entering trade.
eventhough we found break of structure in 1hr ..in 4 hr it is still in down trend so if market breaks the support and goes down ..continuation of downtrend expected.
NZDUSD - OANDA - Long TermNewbie trader throwing out some trade ideas.
What Do you think of this BULL angle for Long term.
i know its dependent on strength of DXY, and US report fluctuations but this is a far fetched idea spanned over weeks. So a possibility out there for Bulls to Ride it .
NZDUSD Longs!As we have NFP this week, I'm expecting USD to be weak. Please use proper risk management.
💡Don't miss the great sell opportunity in NZDUSDTrading suggestion:
". There is still a possibility of temporary retracement to the suggested resistance line (0.7063).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. NZDUSD is in a downtrend, and the continuation of the downtrend is expected.
. The price is below the 21-Day WEMA, which acts as a dynamic resistance.
. The RSI is at 38.
Take Profits:
TP1= @ 0.7032
TP2= @ 0.6999
TP3= @ 0.6962
TP4= @ 0.6922
TP5= @ 0.6883
SL: Break Above R2
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated!❤️
💎 Want us to help you become a better Forex / Crypto trader?
Now, It's your turn!
Be sure to leave a comment; let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
NZD/USD analysisLook at the chart it's still bearish be careful don't trade in zones and wait for breakout and then switch your entry timeframe to enter...
short side nzd/usdHello guys i had find this setup in 1h timeframe which is in correction move after bad fall we have a good selling opportunity to short from here with above resistance sl and below support target and plzz do your own analysis before taking any trading decision if you like my analysis plzz like share and follow thank you
BULLISH IT IS IN 5 WAVEIF YOU LOOK IN ONE DAY TIME FRAME, IT HAVE COMPLETED THE 4TH WAVE NOW IT IS MOVING FOR THE 5TH WAVE. IN 1 HOUR TIME FRAME IT WILL CORRECT THAN UP .
New Zealand dollar slide continuesThe New Zealand dollar has recorded losses for a third straight day. In the European session, NZD/USD is trading at 0.7212, down 0.33% on the day.
The ANZ Commodity Price Index climbed 1.3% in May, marking an eighth consecutive rise. The index rose to a record level, as commodity prices rose in all major categories. The rise in commodities this year is in sharp contrast to 2020, when the Covid pandemic caused a sharp downturn in the global economy. This was reflected in a sharp fall in commodity prices, as the Commodity Price Index recorded declines throughout most of 2020.
As Covid rates fall, major economies have been reopening, and improving economic conditions have led to speculation that central banks may respond by tightening policy. The Bank of Canada recently tapered its QE programme and the Reserve Bank of New Zealand surprised the markets last week when it signalled the potential of a rate hike in the second half of 2022. If the RBNZ continues to send a hawkish message to the markets, we can expect the New Zealand dollar to gain ground.
This week's key event is the US nonfarm payroll release for May on Friday (12:30 GMT). The market is projecting a strong release, with a consensus of 664 thousand. If the upcoming release is within expectations, it would indicate a significant acceleration from the April reading of 266 thousand. The April release was a massive miss, as the forecast stood at 966 thousand. Investors can be expected to be cautious ahead of the release. If the nonfarm payroll release is as strong as expected, we could see a breakout in the forex markets on Friday.
Investors will also be keeping an eye on wage growth, which could put a damper on the NFP party. Average Hourly Earnings is projected to slow to 0.2% in May, after a sharp gain of 0.7% previously.
There is resistance at 0.7777 and 0.7846. On the downside, we have support at 0.7658 and 0.7608
