Whoops. Looks like trading is not the only thing I’m new at -apparently posting on forums as well. Yep, looks like it followed through. Expecting a pullback here.
Look, it is pulling back! What levels are you watching for a possible trade?
Double snaps to Big Pippin for spotting my third comdoll setup today! Just I thought that the pair would break above .7600, the falling trend line actually provided enough resistance! Anyone planning on trading a breakout? I’m watching this pair too!
now is above 0.7660…! missed it!
Let’s give another round of happy snaps to Big Pippin’ for pointing out this divergence + trend line play on Kiwi:
I guess this means I should hold on to my long NZD/USD swing trade then?
The pair found support at the .7700 major psychological level, which was right in line with the trend line and just enough to close the weekend gap. With price making higher lows and stochastic making lower lows, a bullish divergence has formed, hinting that NZD/USD could be headed further north. The next area of interest seems to be at the .7800 handle but, for the sake of my long trade, I’m keeping my fingers crossed that it heads much higher than that!
Are the Kiwi bulls taking a breather? On NZD/USD’s 4-hour chart is a rectangle, which, according to the School of Pipsology, is a possible sign for a continuation of a trend. The question is, are the Kiwi bulls done pushing the pair higher, or are they just taking a breather?
After bouncing a few times off the .7850 minor psychological support and finding resistance near .7900, NZD/USD seems to be stuck inside a new range for the week. Stochastic is pointing down, which means that another test of .7850 might be in the cards. Will it still hold this time?
nzd usd has formed a reversal at 0.7919 and looks back t enter the consolidation box ,
reversal in progress.
Here’s one for those who like trading breakouts! NZD/USD has been trading on what looks like a rising wedge on the 1-hour chart. It’s currently having trouble at the .8050 handle, but it’s still within the wedge pattern. Will we see a breakout soon? Lemme know how you’re planning on trading this one!
i am bullish on this pair…T/P for this pair for me is 0.8160 , where there will be a strong resistance, followed by retracement till 0.8000 and back to 0.8230 levels…
nooo, do not trade with bias in breakout trade… it goes both ways, if fundamentally exceptional. however always “Never predict, Always react”
I like this!
Hmm, it looks like it’s still stuck in a range for now. Let’s see what the NFP has in store for NZD/USD… Good luck with your trade!
This could be a make or break for the Kiwi! The pair just hit support at the bottom of the rising channel on the 4-hour chart while a bullish divergence seems to be hinting that Kiwi bulls could charge soon.
The .7950 minor psychological level has acted as a significant area of interest in the past and might still do so this time around. But do fundamentals line up for a Kiwi bounce? Let me know what you think!
Here’s one for the comdoll bulls! NZD/USD is chilling on a rising trend line on the 1-hour chart and it looks like it’s about to retest the support. Stochastic is on the overbought territory for now, but do you think there’s more room for the Kiwi to rise? I have a good feeling about this one!
Looking at the Daily, we could have a nice Head & Shoulders pattern forming, with the 200ema sloping down slightly across the shoulders, and the Monthly Pivot just below the neckline, which could add up to a pretty bearish picture. I’ll certainly keep an eye on it.
I’ve been keeping my eye on that right shoulder for the last couple of weeks, too! Just waiting for some downward momentum before jumping in and possibly adding if the neckline breaks.
Nice to see you back here, SimonTemplar!
Agreed, good to know that we are looking at the same thing. Thought we might lose it yesterday, but it didn’t end the day too badly. Will see what we get next week.
Apologies for the absence - I have subscriptions to too many threads, really, so when you stopped posting on this thread and it basically died out I removed the subscription.
During your absence, I had visions of you living the currency trading dream, taking time out - or perhaps trading from a laptop - while cruising the world on your yacht (named, perhaps, The Happy Pip?), luxuriating in the proceeds of your trading.
Glad to have you back around, I trust the tan is amazing.
It looks like Kiwi bears needed to pull up for some air after that sharp dive last week! NZD/USD might retrace to the 38.2% Fib, which is in line with a former support level just below the .7950 handle. Stochastic already reached the overbought area but haven’t crossed yet, so there might be room for this pair to climb.
Do you think any of the Fibs will hold? Or will the pair just keep rallying?