Who’s up for some trend trading? NZD/USD is near the rising trend line on the 1-hour chart but it looks like the bears aren’t done selling just yet. The .8350 minor psychological handle is a good area to watch if you’re planning on buying the Kiwi. Just make sure that you have your stop losses in place!
Could this be my chance to jump in the NZD/USD uptrend? It appears that a rising channel is forming on the pair’s 4-hour time frame and it just bounced from the top. I’m thinking the next potential bounce could happen at the channel support, right around the .8350 minor psychological level.
Buckle your seatbelts, folks! NZD/USD is about to test a resistance area! The BOJ’s recent announcement boosted risk appetite a couple of hours ago, which could send NZD/USD to the .8425 handle, which has served as a good resistance for the pair so far this month. Still, it might be better to wait for Stochastic to turn and cross before we commit to an idea of a reversal.
Here’s another retracement play! After making a strong break below the .8350 area, NZD/USD just pulled back up for a quick retracement. Will the former support level hold as resistance though? Stochastic is still moving up, which suggests that Kiwi bulls could have enough energy to push NZD/USD higher. Let’s see if the Fibs hold!
Here’s one for the long-term comdoll traders! NZD/USD found resistance at the .8465 area, which has served as a resistance around this time last year. But with the higher lows popping up on the daily chart it looks like we’re about to see a descending triangle play out. Will it break to the upside this week?
welcome back mate!
Hit SL -100 pips. No problem, reduced risk
Nice setup! Now would be a good time to enter. Now we just have to figure out of the latest comments from Japan’s Finance Minister is enough to change the short-term outlook for the yen.
NZD/USD has been consolidating even more tightly for the past few weeks as the pair slowly formed a rising wedge on the 4-hour time frame. Resistance around the .8450 doesn’t seem ready to budge anytime soon and it appears that the path of least resistance is downwards. Watch out for a potential break below the .8300 handle if reports from New Zealand come in weak!
Placed a Buy stop order on GBPNZD above the recent consolidation at previous resistance which is in line with fib 50. Also a bullish divergence is in formation. TP to be decided.
Cancelled the order. Price is moving down like a rocket breaking the trend line.
