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Nzdusdlong

NZDUSDThe FX:NZDUSD is flat against the US Dollar (USD), early during Wednesday’s Asian session, ahead of the Reserve Bank of New Zealand (RBNZ) monetary policy decision. At the time of writing, the pair exchanges hands at around 0.6134, sitting above the 200-day moving average (DMA), suggesting the pair remains bullish. Given the backdrop, a hawkish stance by the RBNZ could likely underpin the pair to test the next resistance area at 0.6225, the July 31 swing high, followed by the July 27 high at 0.6273. Conversely, and the most likely scenario, RBNZ Governor Adrian Orr and Co. are expected to hold rates unchanged for the fifth consecutive meeting, which would likely weigh on the NZD/USD pair, which would dive toward the 0.6100 figure, ahead of the 200-DMA at 0.6089. If the exchange rates pierces that support level, the losses could extend to 0.6050, and beyond.
Long
by tradingconmike
NZDUSD to continue in the upward move?NZDUSD - 24h expiry There is no clear indication that the upward move is coming to an end. Although we remain bullish overall, a correction is possible with plenty of room to move lower without impacting the trend higher. Risk/Reward would be poor to call a buy from current levels. A move through 0.6075 will confirm the bullish momentum. The measured move target is 0.6125. We look to Buy at 0.6025 (stop at 0.5993) Our profit targets will be 0.6105 and 0.6125 Resistance: 0.6075 / 0.6100 / 0.6125 Support: 0.6050 / 0.6025 / 0.6000 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Long
by OANDA
NZDUSDDear Traders, Our overview remain bullish as in our previous chart that we had explained it, right now price is in very tricky sport while dxy did not make any strong retracement since last week and has continued dropping in this week too. It is hard to clearly pin point when DXY will retrace so we kept that thought in mind and we think price of NZDUSD will continue the bullish momentum. This idea is swing move, please use smaller time frame for entries, like and comment if you agree with the idea. thanks a lot ;)
Long
by Setupsfx_
1
There is a CHANCE TO REVERSE THE TREND OF THE YEARThe past trading week was marked by growth. The weekly candle was not as strong as the one before last, but still showed enough bullish strength. Friday was quite volatile, but ended on a bullish note, leaving the bears with only Thursday, which saw a decline compared to the previous growth. Our trading strategy points to further growth. The configuration of the previous market dynamics puts a ceiling on the upward movement at the level of 0.6085. The October high at 0.60555 remains an important reference point. Breaking above this level would provide the first sign of a reversal in the downtrend from the February 2, 2023 high of 0.65378. At the market open, we are placing a buy order slightly below Friday's closing price at 0.5985. Ride the waves, but don't forget to buckle up and enjoy the ride $-)
Long
by ForbesRatingN1
Moves around 0.6050 with a bullish sentimentFX:NZDUSD extends gains around three-month highs, trading around 0.6050 during the early European session on Tuesday. The selling pressure on the US Dollar (USD) continues, as there is increasing consensus that the Federal Reserve (Fed) has concluded its policy-tightening campaign. Market sentiment is now leaning towards the likelihood of rate cuts by the Fed starting in March 2024. The 14-day Relative Strength Index (RSI) is above the 50 level, indicating a bullish sentiment for the NZD/USD pair. This could encourage bullish moves towards the psychological resistance level around 0.6100. Moreover, the Moving Average Convergence Divergence (MACD) line, situated above the centerline and diverging above the signal line, is suggestive of a bullish momentum in the market. On the downside, the 23.6% Fibonacci retracement at 0.6004 may serve as a crucial support level, followed by the nine-day Exponential Moving Average (EMA) at 0.5988. A decisive break below the EMA could potentially pave the way for the pair to test the 38.2% Fibonacci retracement at 0.5960, aligning with the significant level at 0.5950.
Long
by tradingconmike
NZDUSD Long Term BUYING Trading IdeaHello Traders In This Chart NZDUSD HOURLY Forex Forecast By FOREX PLANET today NZDUSD analysis 👆 🟢This Chart includes_ (NZDUSD market update) 🟢What is The Next Opportunity on NZDUSD Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
Long
by ForexPlanet20
NZDUSD → Inverted H&S in progressThe FX:NZDUSD pair aims for stability above the psychological resistance of 0.6000 as the market mood has turned bullish due to easing price pressures in the United States economy. The Kiwi asset turns upbeat as investors hope that the Federal Reserve (Fed) is done with hiking interest rates as progress in inflation declining towards 2% is steady. S&P500 futures generated decent gains in the Asian session, indicating a significant improvement in the risk-taking ability of the market participants. The US Dollar Index (DXY) hovers near a two-month low around 104.00. Further action in the US Dollar will be guided by the monthly US Retail Sales data for October, which will be published at 13:30 GMT. As per the consensus, consumer spending contracted by 0.3% against 0.7% growth in September. NZD/USD forms an Inverted Head and Shoulder chart pattern on a daily scale, which indicates a prolonged consolidation. A breakout of the aforementioned chart pattern will result in a bullish reversal. The asset climbs above the 50-day Exponential Moving Average (EMA), which indicates that the major trend has turned bullish. The Relative Strength Index (RSI) (14) aims to shift into the bullish range of 60.00-80.00. If the RSI (14) manages to do so, a bullish momentum will get triggered. More upside would appear if the asset breaks above the neckline of the inverted H&S pattern, which is placed from September 29 high at 0.6050. This will result in further upside towards August 11 high near 0.6090 followed by August 4 high at 0.6133. In an alternate scenario, a breakdown below November 14 low at 0.5863 would drag the asset toward November 2 low at 0.5838. Further decline below the latter would expose the asset to October 26 low at 0.5772.
Long
by tradingconmike
NZD/USD: correction, followed by further growth.The NZD/USD pair has shown an upward reversal, so buying is preferred. Currently, our trading strategy indicates the need for a downward correction. The ideal scenario on November 06th would be a touch of the November 2nd high at 0.59171. On Monday, a small momentum-driven growth is possible, followed by a correction. In any case, after the completion of the correction, the minimum target for growth is 0.60555 (the high of October 23rd). We recommend buying after the correction with targets at 0.60555 and higher.
Long
by ForbesRatingN1
NZDUSD to turnaround?NZDUSD - 24h expiry Price action looks to be forming a bottom. Risk/Reward would be poor to call a buy from current levels. A move through 0.5850 will confirm the bullish momentum. Short term RSI has turned positive. The measured move target is 0.5900. We look to Buy at 0.5820 (stop at 0.5790) Our profit targets will be 0.5895 and 0.5900 Resistance: 0.5850 / 0.5875 / 0.5900 Support: 0.5820 / 0.5800 / 0.5790 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Long
by OANDA