NZDUSD remain bullish

21 April, 2017

NZDUSD remain bullish

Buy above 0.6985. Stop loss at 0.6934. Take profit at 0.7092. Reason for the trading strategy (technically):

We remain bullish looking to buy on dips above 0.6985 support (Fibonacci retracement, horizontal overlap support) for a further push up to 0.7092 resistance (Fibonacci extension, Fibonacci retracement, horizontal overlap resistance).

Stochastic (34,5,3) is seeing strong support above the 3.9% level where we expect a further bounce from.


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The pair is still in a downward channel

The recovery from monthly lows seemed to be over. The buying momentum stalled at 0.6915 which appeared to be a pivot...

NZD/USD Hovers Around Support

NZD/USD has retraced substantially since March 21st, as it was nearing the short-term major resistance level at 0.7100...

NZDUSD dropping perfectly from our selling area

Price has reached our selling area as expected and is seeing a nice bearish reaction below 0.7065 resistance (Fibonacci retracement, Fibonacci extension) where we expect a drop to at least 0.6968 support (Fibonacci retracement, recent swing low support)...


NZDUSD Tests Key Support Post Fall on Dovish RBNZ

On the 4 hourly chart, the level at 0.7300 was broken by a long bearish candle on 8th Feb. The level has turned into the near term major resistance...

NZDUSD profit target reached, prepare to sell again

Price has dropped nicely and reached our profit target perfectly. We continue to sell below resistance at 0.7145 (previous support turned resistance, Fibonacci retracement) for a push down to 0.7068 (Fibonacci projection, Fibonacci retracement, horizontal swing low support)...

NZDUSD dropping nicely, remain bearish

Price dropped nicely from our previous selling area and we remain bearish below 0.7143 resistance (Fibonacci retracement, horizontal resistance) for a drop to at least 0.7045 (Fibonacci retracement, Fibonacci projection, horizontal overlap support)...


NZDUSD profit target reached again, remain bearish

Price dropped perfectly from our selling area to our profit target for the sixth time in a row. We now look to sell on strength below 0.7154 resistance (Fibonacci retracement, ascending resistance pullback) for a further drop to 0.7046...

NZDUSD profit target reached, prepare to turn bullish

Price dropped perfectly and reached our profit target from yesterday. We turn bullish above 0.7091 support (Fibonacci retracement, ascending support, swing low support) for a push up to at least 0.7150...

NZD/USD pair traded flat within a tight range

The upward momentum seems to have run out of steam. There is potential to move towards 0.7250 once the immediate support represented by the 0.7300 level is taken out. Conversely, if the resistance around 0.7350 breaks, then a move up towards 0.7400 could be the next stop...

  


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