Don’t look now but NZD/USD might be in for a strong bounce! On its daily time frame, the pair has made a bullish divergence as price made lower lows while stochastic made higher lows. There seems to be enough upward momentum, but you should probably wait for more confirmation if you plan to jump in!
What is the fibonacchi levels ?
and when is the best moment to jump into long? I mean you said “probably wait for more confirmation” what are those confirmations we should wait ?
Im now long NZD. Not so sure about the USD though so I decided to go with a cross and short EUR/NZD. I think it might be a very valuable trade for the next few weeks.
Meeting of the central bank of New Zealand on July 24th. Short oscillators are positioning towards the overbought and I think this is the prelude to a weakness of the kiwi after the meeting.
Here’s a sweet and simple trend play on NZD/USD! The Kiwi has been quietly trading higher against the dollar since late last year and it doesn’t looklike it’s stopping anytime soon. A stop just below the trend rising trend line could still give you a good risk ratio if you think that the pair is on its way to new highs.
Real interest rates in New Zealand are largely positive (on the 10 years we are on 340 basis points). This benefits the currency but until when is it going to be tolerable?
Tonight meeting of the RNBZ. New measures on the rates as in Australia?
NzdUsd is closed to wave 4, oscillators are overbought and the 200-days moving average is in the area. I would evaluate the closure of long positions on the Kiwi.
NZD/USD is testing the rising trend line on its 1-hour time frame, as the pair is finding support near the .8000 major psychological level. Stochastic is oversold, which means that Kiwi sellers are exhausted. The 61.8% Fib level appears to be holding, too.
Bad news for the Kiwi after reaching the resistance area of 0.80 in the overbought; building permits fell by 4% and the seasonality of August is unfavorable. Sell kiwi!!
Ready for wave C on the Kiwi, but come back short in area 0.81, because of the start of the bear market.
Last but definitely not the least is the second trade setup that I’m taking this week! NZD/USD is lollygagging near the 50% Fib on the 4-hour chart, which isn’t surprising considering that the area had served as a support and resistance level in the past. Stochastic is still in the overbought region though, so I’ll probably wait for a stronger bearish divergence signal before I jump in.
Strong reaction of the Kiwi. There are many resistances in area 0.82 and probably it represents wave 4.
Is that a triple top or a pseudo-head and shoulders formation? The pair seems to be having trouble making any headway past the .8050 mark, as signaled by this reversal chart pattern. The neckline is around the .8000 mark and the pair appears to have broken down already. Will it continue to sell off from here?
Yes, it is possible that we are facing a triple top, also due to the importance of the resistance of area 0.81.
Something just broke and no, it’s not my heart this time! NZD/USD just blasted below the mid-channel support on the 4-hour chart and it looks like it could head for the possible support at the channel bottom. You could jump in now if you’re one of the Kiwi bears, but watch out for possible break-and-retest scenarios!
I think that the low part of the channell will be surely involved before the end of the month. August is a complicated month for Aud and Nzd.
Aaaand NZD/USD is at the bottom! As elisab has suggested, the bottom of NZD/USD’s channel on the 4-hour chart turned out to be a significant level for the Kiwi. The question is, how low can this pair go? Will the channel support hold or are we looking at another downside break?
As seen from daily chart downtrend is still on which is verified by macd and volume chart and also moving averages as they are widening. The 88.6 level of fib arc and pivot point are next targets. But on a 4H chart Volume indicator and MACD indicates uptrend and it looks like 100 percent retracement with 61.8 as target. So i guess answer to your question is this will hold for short time but i doubt it in long term. I am a newbie ,just started forex this month and still learning. Hope this answers your question