I think that area 0.83 will be involved in the next few weeks. The rebound in March-April was too strong, now the trend has to be consolidated.
Looks like NZD/USD’s rising channel is still intact! If you’re one of the Kiwi bulls then you might be happy to know that .8700, which is near a previous high and the top of the channel, is still about 150 pips away. Remember to place your stops wisely though. Make sure that you have enough room for a good reward-to-risk ratio.
If we were at the end of the week , we would have a hanging man that follows 3 little Indians. Quite a decidedly bearish pattern for the Kiwi. Target area 0.82
My personal cyclic graph of NzdUsd shows a cyclical peak in June 2013 and then a fall all the way up to 2017!
And this morning on the hourly charts: bearish head and shoulder in formation after the Australian rates cut.
Similar to AUD/USD, this pair is currently testing the support level on its 1-hour time frame. Will it bounce or will it break? Stochastic is on middle ground but is pointing south, suggesting a potential breakdown below .8400. If Kiwi bulls charge though, the pair could bounce back to its recent highs near .8600.
A great short trade yesterday on the Kiwi. After the break of the support of 0.8420, the market is now going to head towards the reliable 200-days moving average of 0.8285.
The first attempt to break downward of the 200-days moving average of 0.8287 was predictably not successfully. At 0.8270 wave C = wave A… we can try the long Kiwi.
Remember the rising channel that I pointed out a couple of days ago? Well, NZD/USD is currently testing its support! If you think that the Kiwi will strengthen over the next few days, then buying at the current levels and placing accommodating stop losses is a good strategy to pursue.
As expected, the fall of the Kiwi stops at 0.8260 were wave C = A. I will be waiting for the formation of a reversal figure on the hourly charts to enter long.
After its strong dive last week, NZD/USD seems to be gasping for air as it looks ready to pull up to the Fibonacci retracement levels on the 4-hour time frame. The 61.8% Fib level is close to the .8400 major psychological level and former support area, which suggests it could act as resistance later on.
Excellent reaction of NzdUsd at 0.8075. Here wave 3 = 1.618 times wave 1. Now I expect the formation of wave 4 (resistance 0.8280) to enter short again.
Just like the Aussie, NZD/USD is finding a hard time sustaining its losses on the longer time frames. The pair is stalling at the .8050 psychological support which had served as resistance and support in late 2012. Will the level stay intact this month? Watch this pair closely!
NZD/USD’s downtrend still seems to be intact as the pair is stuck inside a falling channel on its 1-hour time frame. Stochastic is moving down from the oversold area, suggesting that Kiwi bears are still in control. If that’s the case, NZD/USD could head back to the bottom of the channel once more.
Here’s one for trend traders! After breaking below its falling channel last week, NZD/USD is once again testing the pattern’s support area. Do you think that the Kiwi is ready to go up? A stop below its former lows could still give you a good risk ratio if you aim for the channel’s resistance area.
Could a break and retest scenario be in the works for NZD/USD? The pair broke below the rising trend line recently but looks ready to pull right back up. The 38.2% Fib is holding as resistance for now, but there’s still a chance the pair could retrace to the 61.8% level, which is in line with the broken trend line.
NzdJpy on the 200 days moving average: is it time to come back long?
End of the QE and China credit crunch…very bad news for the Kiwi.
Here’s another day trade setup! NZD/USD is on an 80-pip range on the 1-hour chart and it looks like it’s not breaking out anytime soon. Make sure that you read up on trading breakouts if you’re planning on a breakout trade! Alternatively, you can place tight stop losses and just trade the Kiwi’s short-term range.