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?
Unfortunately not. But that’s the dream! Hahaha
The Kiwi/Dollar has broken support at the key level near 0.7857 as we can see this market has range-bound 0.8055-0.7857 from 21June. And at about 0.7857 level was act very well as support. From 20July price start its downside journey from key-resistance at about 0.8055. We also see that, On daily chart today 8EMA cross-down 21EMA.
we could see a rotation to the downside in the near-term. We would note that the next support is seen near 0.7647
Yep! That looks like a head and shoulders pattern breakdown, too!
Like the Aussie, there’s no hard resistance level near NZD/USD’s current price. Heck, the pair is even sporting a possible bullish pennant in the 4-hour chart! Will the pair break above the pennant, or test its former support levels near the .8050 area?
Could it also be an ascending triangle with the 1.0530 range serving as resistance?
On the daily chart I see a few consecutive days of reversal candlesticks, dojis?, at around your 0.8050 support levels. There was a large spike today, news related? I’m thinking it’ll come back down to the 0.7850 level as that’s the bottom of a range on the daily.
Yeah, I’m seeing those indecision candles around that area (.8050-.8100) on the daily too. Plus, there’s a nice little bearish divergence supporting a short trade. Now all it needs is a bit of a push…
Do you think the NFP release will do the trick?
And, more importantly, did you short?
Hey there! Are you referring to AUD/USD? If so, then yes, I’m seeing that tiny triangle too! And it looks like you were right about that resistance in that area. Were you able to trade it?
If not I sure did. Lets see what NFP brings to the table
Yeah I went long at 0.8085, at first I thought it would my stop loss ahead of the ECB news but it didnt and then when the NFP data come out it gave an extra boost, I closed the trade at the end of the Friday session for 90 pip profit!