NZDUSD: Curve Analysis (2D)Technical Analysis:
Mixed Indicators and Possible Trading Prospects
The NZDUSD currency pair is currently experiencing a battle between bullish and bearish forces, resulting in a complex technical situation for traders.
Challenging Resistance:
Both the NZDUSD and AUDUSD are encountering obstacles at their respective 100-hour moving averages, impeding any potential upward momentum. The NZDUSD made an effort to surpass the crucial level at 0.58967, but encountered selling pressure, resulting in a decline in price.
Conflicting Signals from Technical Indicators: A number of technical oscillators, such as RSI, Stochastic %K, and Williams %R, suggest that the NZDUSD is currently in an oversold condition. Based on the current data, it appears that the currency pair could experience a correction or a possible rebound in the near future.
Downward Trend in Moving Averages:
Conversely, the majority of moving averages are currently showing a downward trend , with shorter-term averages positioned below longer-term ones. There seems to be a downward trend that may persist unless there is a significant bullish reversal.
Is there a bullish divergence?
It is worth noting that the Hull Moving Average is suggesting a potential bullish divergence or reversal. There may be a potential shift in momentum if the price action begins to deviate from the downward trend of the moving averages.
In general, the future prospects for NZDUSD appear to be uncertain with a downtrend bias. Indicators pointing towards oversold conditions indicate that there may be some attractive buying opportunities. However, it is important to exercise caution due to the prevailing bearish trend and the resistance observed at the 100-hour moving average. It would be wise to avoid overly optimistic bets in this situation.
NZDUSD
NZD/USD BEARS ARE GAINING STRENGTH|SHORT
Hello,Friends!
Bearish trend on NZD/USD, defined by the red colour of the last week candle combined with the fact the pair is overbought based on the BB upper band proximity, makes me expect a bearish rebound from the resistance line above and a retest of the local target below at 0.586.
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NZDUSDIs NZDUSD getting bid after massive sell rally?
As the price is been on strong bearish trend but now it seems like price is getting some bullish momentum after reaching at support level and simultaneously has completed bullish harmonic pattern.
If the bulls took control , the 1st target could be 0.60500 followed by 0.6150.
What you guys think of it?
NZDUSD Is Very Bullish! Buy!
Please, check our technical outlook for NZDUSD.
Time Frame: 2h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is trading around a solid horizontal structure 0.588.
The above observations make me that the market will inevitably achieve 0.592 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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NZD-USD Long From Support! Buy!
Hello,Traders!
NZD-USD went down but
The pair will soon retest
A horizontal support level
Of 0.5854 and as the pair
Is locally oversold I think
That we will see a local
Bullish rebound
Buy!
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Check out other forecasts below too!
Some Of My Entry Reasons , How I Have 10 Wins Tardes Per Week !This Is An Educational + Analytic Content That Will Teach Why And How To Enter A Trade
Make Sure You Watch The Price Action Closely In Each Analysis As This Is A Very Important Part Of Our Method
Disclaimer : This Analysis Can Change At Anytime Without Notice And It Is Only For The Purpose Of Assisting Traders To Make Independent Investments Decisions.
NZD/USD BULLISH BIAS RIGHT NOW| LONG
Hello, Friends!
We are going long on the NZD/USD with the target of 0.603 level, because the pair is oversold and will soon hit the support line below. We deduced the oversold condition from the price being near to the lower BB band.However, we should use low risk here because the 1W TF is red and gives us a counter-signal.
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NZD/USD Drops as Odds of RBNZ Rate Cut Increase, What's Next?"Since the 18th of July, NZDUSD has dropped for 6 consecutive days. This is due to the increased expectations of a rate cut by RBNZ in the upcoming meeting (14th of August). What should we expect as the NZDUSD is approaching the 0.58600 support zone?
1. Current Situation
Fundamental Analysis:
- Expectations of interest rate cuts in August by RBNZ are rising (near future expectation of weakening NZD).
- FOMC is expected to hold interest rates in August, but there is an expectation of 3 cuts soon (near future expectation of a stable USD).
Technical Analysis:
- NZDUSD is approaching the 0.58600 support zone, there might be a rebound as buyers enter the market and pause the drops.
2. Key Levels to be Aware Of
Support Zone:
- 0.57700 to 0.58000. If the price can hold above these figures, NZDUSD might have a chance to rebound. If the price breaks below the 0.57700 support zone, there will be a high chance that NZDUSD will continue a downtrend until it hits the next support at 0.55200.
Short-term Resistance:
- If the price rebounds, the nearest (short-term) resistance will be at 0.60500, followed by a stronger resistance at 0.62000.
3. Things to be Aware Of
RBNZ & FOMC Policy Announcements:
Any forthcoming statements or decisions from the RBNZ or FOMC will be crucial.
For RBNZ, a confirmed rate cut or dovish tone could push the pair lower, while a more neutral tone could support a recovery."
NZDUSD Buy IdeaOANDA:NZDUSD has formed bullish divergence on 1H timeframe indicating a potential upside move. It is currently trading over premium fibonacci levels of 78% of daily timeframe and price is on weekly ascending trendline increasing the chances of potential retest and bounce up from this level. We can look for buying setups at this price range.
NZDUSD H1 I Bullish BounceBased on the H1 chart analysis, we can see that the price has just bounced off our buy entry at 0.5918, which is a swing-low support.
Our take profit will be at 0.5937, which is a pullback resistance level close to 61.8% Fibo retracement.
The stop loss will be placed at 0.5905, which is a multi-swing low support level.
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NZDUSD Breakout and Potential RetraceHey Traders, in today's trading session we are monitoring NZDUSD for a buying opportunity around 0.59400 zone, NZDUSD was trading in a downtrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the retrace area.
We would also like to consider the current bearish momentum on DXY and the easing inflation in the US.
Trade safe, Joe.
NZDUSD: Bearish Rally Continues 🇳🇿🇺🇸
NZDUSD broke and closed below a key daily support.
The broken structure and a falling trend line compose the contracting supply zone now.
I think that the pair has a potential to drop lower.
The closest key support that I spotted is 0.589
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NZDUSD Technical Analysis & Trade Idea - Finding An Entry PointIn this video, we closely examine how to find an optimal entry point in a trending market. We conduct an in-depth analysis of the NZDUSD, focusing on market structure, price action, and the trend. Most importantly, we discuss how to get involved in the market for maximum gains. As always, the information is educational and should not be construed as financial advice.
NZDUSD Technical Analysis! BUY!
My dear followers,
I analysed this chart on NZDUSD and concluded the following:
The market is trading on 0.5963 pivot level.
Bias - Bullish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bullish continuation.
Target - 0.6026
About Used Indicators:
A super-trend indicator is plotted on either above or below the closing price to signal a buy or sell. The indicator changes color, based on whether or not you should be buying. If the super-trend indicator moves below the closing price, the indicator turns green, and it signals an entry point or points to buy.
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WISH YOU ALL LUCK
Levels discussed during Livestream 23rd July23rd July
DXY: Ranging between 104.20 and 104.40, if price breaks 104.50, Inverted Head and Shoulder, could retest 104.80
NZDUSD: Sell 0.5970 SL 20 TP 50
AUDUSD: Sell 0.6615 SL 15 TP 35
USDJPY: Sell 156.10 SL 30 TP 60
GBPUSD: Bearish Flag: Sell 1.2890 SL 25 TP 110 (Hesitation at 1.2860)
EURUSD: Sell 1.0865 SL 20 TP 55
USDCHF: Buy 0.8925 SL 25 TP 75
USDCAD: Buy 1.3790 SL 20 TP 50
Gold: Could retrace higher to 2410, wait for retracement to complete, needs to break 2380 to trade down to 2350
Potential Bearish Trend for NZD/USDThe NZD/USD currency pair may be entering a new bearish trend. After retesting the 0.6220 area, the price experienced a technical rebound at the resistance level, subsequently revisiting the previous supply area. This sequence of movements indicates a potential downward trajectory.
In our analysis, we have observed that the market dynamics are aligning with a bearish outlook. The resistance at 0.6220 has proven to be a significant hurdle for the bulls, and the price action suggests that the bears are gaining control.
We are now closely monitoring this pair for a bearish setup. Our objective is to anticipate and capitalize on the next downward movement. Key indicators and market sentiment support this bearish outlook, suggesting that the NZD/USD may continue to decline as it tests lower levels of support.
Investors and traders should consider the broader market conditions and sentiment around the NZD/USD pair. Economic indicators, global market trends, and geopolitical developments will also play crucial roles in shaping the future direction of this pair.
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NZDUSD: Technical Pressure Mounts Amid Weak Trade DataNZDUSD – technical overview
Overall pressure remains on the downside with the market continuing to stall out on runs up into the 0.6500 area. At the same time, there are some signs of the market wanting to put in a longer-term base. Ultimately, a break back above 0.6500 would be required to take the medium-term pressure off the downside and encourage this prospect. A monthly close below 0.5800 will intensify bearish price action.
R2 0.6154 – 8 July high – Strong
R1 0.6098 – 17 July high – Medium
S1 0.5942 – 3 May low – Medium
S2 0.5900 – Figure – Strong
NZDUSD – fundamental overview
On the surface, New Zealand trade data produced a solid headline reading. However, at closer glance, the underlying components were distressing, with both imports and exports declining outright. This along with an ongoing slide in commodities prices proved to be a big weight on the New Zealand Dollar. Key standouts on Tuesday’s calendar come from Eurozone consumer confidence, US existing home sales, and Richmond Fed manufacturing.
Exclusive FX research from LMAX Group Market Strategist, Joel Kruger