Closed above NZDUSD Short trade manually at 0.8350 gaining +125 pips
When I grow up , I want to be like you. You are the king of Forex.
Still I am a learner. Keep learning, work hard, success is on your way. Nothing can prevent you from success, if your commitment is deep.
I am long too on NZDUSD (from the open of today’s candle GMT time).
I’m still thinking if I maintain over the weekend.
Don’t you think your SL is too close? It’s above the last swing low.
The .8300 major psychological handle has held for the Kiwi for this year and it might do so again. NZD/USD is currently approaching that support zone while stochastic is slowly crawling out of the oversold area. If you’re planning to buy this pair, make sure you set your stops below those previous lows and make allowances for volatility.
0.8300 major psychological handle is already broken and so I expect a pull back of NZDUSD to 0.8300 area to find a new resistance before going further down.
The Kiwi bulls are about to challenge the .8320 handle, which has served as a strong support level for NZD/USD last month. Last week the level has turned into resistance area. Will we see a repeat this week?
NZD/USD also appears to be ranging in the meantime but the pair is currently stuck in the middle of the range, undecided which way to go. Stochastic, however, is hinting at a southbound move back to support around the .8200 major psychological level. But if this is just a small retracement, NZD/USD could still test the resistance around .8325.
Good catch. I will short it on a downward break out
Big Pippin and I have talked about this a few hours ago and we have agreed that NZD/USD’s .8270 area is a good place to short if you’re a comdoll bear. A tight stop above the level could give you good trading odds especially if you aim for last week’s low.
On the NZDUSDI am bullish because on the daily chart there is a pin bar formed at the 0.8270 area so if price breaks above that resistance turning support
After breaking above the .8300 major psychological handle, NZD/USD appears ready to pull back and retest the broken resistance area. Using the Fibs on the 4-hour time frame shows that the 38.2% level is close to the .8300 mark while the 50% Fib is closer to the former resistance zone.
After breaking the bullish pennant today, NZD/USD looks like it’s on its way to new monthly highs. Be careful though! The .8460 area is looking like a mean resistance level, especially since it hasn’t been broken since its first test in late 2012.
What a rally by the Kiwi! The pair has taken flight as it soared from the .8200 handle last month to the .8500 area recently. The question is, will that psychological resistance level still hold? Stochastic is in the overbought region suggesting a potential selloff but it appears that the pair has room to head further north. Set your stop above the previous spike if you plan to short!
Unlike USD/CAD’s setup, NZD/USD’s falling channel is still intact. In fact, it just broke below a mid-channel support, which could drag it all the way to the .8275 zone near the bottom of the channel. On the other hand, it could also pop higher and test last week’s highs without even touching the bottom. Place your profit targets wisely on this one!
Short EURNZD @ 1.5460. SL @ 1.5580 & TP @ 1.5220
Monthly Chart
Here we can see that the price is obeying a falling trend line.
Weekly Chart
Nothing Special. Pretty same as in monthly chart. Bearish Bias.
Daily Chart
Now the price is testing a previous support and a newly formed falling trend line in the daily chart.
4 Hour Chart
Here the price is already bounced from the falling trend line breaking through a short term rising trend line in the 4 hour chart.
Way to go.
Make sure that your stops are filled and risk is set accordingly.
Good Luck and Good Trading
BIJOY
Going long on NZDUSD @ 0.8450. SL @ 0.8370 & TP @ 0.8610
Monthly Chart
Here we can see a long term rising trend line and a strong resistance
Weekly Chart
Here in weekly chart, we can see that the price is obeying a new rising trend line.
Daily Chart
Here the price is again testing the rising trend line. Again the strong resistance from the monthly chart is also seen as broken. Hence Bullish Bias.
4 Hour Chart
See… Price broke through the long term resistance, completed it’s pull back to the rising trend line and again bounced from the rising trend line after breaking through the short term falling term trend line in the 4 hour chart.
Go baby…go…
Make sure that your stops are filled and risk is set accordingly.
Good Luck and Good Trading
BIJOY
NZD/USD is currently stalling around the .8400 area as it seems to be finding a lot of buying support right there. It’s in line with the 50% Fibonacci retracement level and has acted as resistance in the past, so there’s a chance it might hold. Stochastic seems to be hinting the pair could dip a little lower though.
