USDNZD trade ideas
NZD-USD Momentum RolloverWe can see the trend has exhausted and a head and shoulder pattern is formed.
The breakdown has already happened, but wait for a retest if the SL is out of your risk limits.
Cheers.
New Zealand Currency is going strong against USDOm Namah Shivay
The New Zealand Against Currency Dollar
has been going strong from Mar 2020.
The simple Elliott wave counting does not
show the extreme or out of structure moves.
Well structure is within the previous movements.
It looks the weekly chart is going stronger against
the dollar and could continue further for some weeks.
This is only for educational purpose. There is no trading suggestion in this.
Om Namah Shivay
💡Don't miss the great sell opportunity in NZDUSDTrading suggestion:
". There is still a possibility of temporary retracement to suggested resistance line (0.7225).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. NZDUSD 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 support.
. The RSI is at 42.
Take Profits:
TP1= @ 0.7103
TP2= @ 0.7008
TP3= @ 0.6944
TP4= @ 0.6877
TP5= @ 0.6788
SL: Break Above R2
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💡 Don't miss the great sell opportunity in NZDUSDTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (0.7205). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. NZDUSD 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 support.
. The RSI is at 36.
Take Profits:
TP1= @ 0.7145
TP2= @ 0.7115
TP3= @ 0.7085
SL: Break Above R2
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💡 Don't miss the great sell opportunity in NZDUSDTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (0.7245). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. NZDUSD 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 support.
. The RSI is at 33.
Take Profits:
TP1= @ 0.7195
TP2= @ 0.7170
TP3= @ 0.7122
TP4= @ 0.7070
TP5= @ 0.7005
SL: Break Above R2
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NZDUSD : LOOKING FOR SHORT OPPORTUNITY!NZDUSD is looking for a great short, Whole move have the consolidation, expecting to reach at the bottom.
Bear Flag - SellPrice is clearly forming a larger bear flag pattern and also ascending channel within the bear flag giving us Pattern-within a - Pattern formation.
Hence suggesting higher probability for it to drop.
💡 Don't miss the great sell opportunity in NZDUSDTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (0.7108). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. NZDUSD is in a range bound and the beginning of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 34.
Take Profits:
TP1= @ 0.7000
TP2= @ 0.6935
TP3= @ 0.6860
TP4= @ 0.6780
TP5= @ 0.6670
SL: Break Above R2
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NZDUSD is still in the ascending channel.The New Zealand dollar is the strongest currency in the past three months. It fell back after reaching 0.7104 at the highest level last week. It closed at 0.7035 on Friday, still above the 0.7 integer.
By technical analysis, NZDUSD is still in the ascending channel. It is recommended that when the price falls back to support, buy NZDUSD.
Bear Flag - SellPrice is clearly forming a bear flag pattern.
Hence looking for more of short setups
Simplicity is key to be successful in trading.
Thanks to all those who have followed me and liked my post.
Especial thanks to all those who DM me and commented on my analysis wanting to know more about the trade.
NZDUSDCurrent Trend DownTrend
TG1 = 0.70441
TG2 = 0.70362
TG3 = 0.70241
STL = 0.70696
Short Side Up Trend TArgets
TG1 = 0.70630
TG2 = 0.70696
TG3 = 0.70764
STL = 0.70441
💡Don't miss the great sell opportunity in NZDUSDTrading suggestion:
". There is still a possibility of temporary retracement to suggested resistance line (0.7052).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. NZDUSD 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 support.
. The RSI is at 43.
Take Profits:
TP1= @ 0.7009
TP2= @ 0.6992
TP3= @ 0.6961
TP4= @ 0.6896
TP5= @ 0.6837
SL: Break Above R2
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Now, It's your turn !
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Trade well, ❤️
ForecastCity English Support Team ❤️
NZDUSD - At the Target - Trail your StopPrice after closing above the 2years resistance moved super bullish and reached 2018 resistance which is our target for this break. Now carefully trial your stop or book the profits and if closes above the resistance line once again one can enter the market. Expecting profit bookings soon.
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