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  #41  
Old 22-04-2017, 01:13 AM
painofhell painofhell is offline
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Price has dropped to our buying level as expected and started to bounce up again. 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.
Buy above 0.6985. Stop loss at 0.6934. Take profit at 0.7092.

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  #42  
Old 24-04-2017, 02:35 PM
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NZD/USD Intraday technical levels and trading recommendations for April 24, 2017


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The NZD/USD pair was trapped within the depicted price range (0.6860-0.6990) until a bullish breakout occurred.

A bullish breakout above 0.6960-0.7000 allowed the pair to head toward the price level of 0.7100 (the key level) which failed to provide sufficient bearish pressure on the pair.

Bullish persistence above 0.7100 allowed a further advance toward 0.7250-0.7350 (Sell-Zone) where the bearish price action was expected.

Bearish persistence below 0.7250 allowed a further decline toward 0.7100 then 0.6960 which failed to provide enough support for the pair.

That is why a further fall was expected toward 0.6860 (the lower limit of the depicted BUY zone) where a bullish position was suggested in previous articles.

Recently, a bullish breakout was achieved above the depicted key level (0.6960).

That is why the recent bearish pullback toward 0.6960 offered significant bullish rejection and a valid BUY entry which is running in profits now.

Note the depicted bullish 1-2-3 pattern with projection target around 0.7250 provided that bullish fixation above 0.7080-0.7100 (neckline) is achieved on a daily basis.

On the other hand, the price level of 0.7100 remains a significant key level to prevent a further bullish advance toward 0.7250.
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  #43  
Old 27-04-2017, 01:11 AM
painofhell painofhell is offline
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NZD/USD is expected to prevail the downside movement. The pair is consolidating on the downside. The downward momentum is further reinforced by the declining 50-period moving average. The relative strength index is below its neutrality level at 50.
Hence, as long as 0.6960 holds on the upside, look for a further drop to 0.6905 and even to 0.6885 in extension.

The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 0.6925. A break below this target will move the pair further downwards to 0.6905. The pivot point stands at 0.6985. If the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, long positions are recommended with the first target at 0.7005 and the second one at 0.7020.

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  #44  
Old 29-04-2017, 03:14 AM
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NZDUSD has been impulsively bearish throughout the week taking the price all the way down from 0.7050 to 0.6890. Today, NZD Building Consents report was published with a negative figure at -1.8% which previously was at 17.2% and Trade Balance report was also not quite as forecasted at 332M which was expected to be at 375M. Besides, ANZ Business Confidence report was also published today which did show a bit of change at 11.0 which previously was at 11.3. On the other hand, on the USD front Flash GDP report is due today, which is expected to show a decline to 1.3% which previously was at 2.1%. Employment Cost Index is expected to show a slightly better value of 0.6% which previously was at 0.5%. Among the other events in the US is FOMC Member Brainard is about to speak today about key interest rates and further monetary policies. The market is likely to be quite volatile today during the US events. So a daily close today will help to predict a further dynamic in this pair.

Now let us consider the technical view. The price is currently residing just below the important price level of 0.6890. Yesterday, the market closed with an indecision candle ahead of today's NZD and USD events. If the price remains below the resistance level of 0.6890 with a daily close today, then we can expect the price to move down to 0.6700 support level. On the other hand, if the price closes above 0.6890 level with a daily close, then we may see the price moving further up towards 0.6980 level. A daily close today is needed to predict a further move in this pair.

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  #45  
Old 05-05-2017, 11:03 PM
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Overview:
The NZD/USD pair is showing signs of strength after a bounce from the lowest level of 0.6847. The level of 0.6847 coincides with the double bottom, which is expected to act as a minor support today. Besides, the double bottom is seen at the point of 0.6847. Since the trend is above the level of 0.6847, the market is still in an uptrend because the major support is seen at the level of 0.6847. Furthermore, the trend is still showing strength above the moving average (100).

Thus, the market is indicating a bullish opportunity above the mentioned support levels, for that the bullish outlook remains the same as long as the 100 EMA is heading upwards. Therefore, strong support will be found at the level of 0.6847 providing a clear signal to buy with a target seen at 0.6998. If the trend breaks the minor resistance at 0.6998, the pair will move upwards continuing the bullish trend development to the level 0.7053 in order to test the double top. However, if the NZD/USD pair fails to break through the resistance level of 0.6922 today, the market will decline further to 0.6847 to retest it.

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  #46  
Old 12-05-2017, 06:01 AM
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NZD/USD is expected to trade in lower range. The pair broke below its former key support at 0.6880, which becomes a key resistance now, and accelerated on the downside. The relative strength index has broken below its 30% level. The 20-period moving average crossed below the 50-period one, which is negative.
As long as 0.6880 holds on the upside, look for a further drop towards 0.6800 and even 0.6775 in extension.

The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 0.6800. A break below this target will move the pair further downwards to 0.6775. The pivot point stands at 0.6880. If the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, long positions are recommended with the first target at 0.6915 and the second one at 0.6950.

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  #47  
Old 13-05-2017, 04:20 AM
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NZD/USD is under pressure. The pair is trading below its key resistance at 0.6880, which should limit the upside potential. The relative strength index below its neutrality level at 50 and lacks upward momentum.
As long as the key level at 0.6880 holds on the upside, look for a further drop towards 0.6800 and even 0.6775 in extension.

The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 0.6800. A break below this target will move the pair further downwards to 0.6775. The pivot point stands at 0.6860. If the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, long positions are recommended with the first target at 0.6880 and the second one at 0.6915.

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  #48  
Old 19-05-2017, 06:24 AM
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NZD/USD is expected to trade with a bullish outlook. The technical outlook of the pair is positive as the prices recorded higher tops and higher bottoms since May 16. The upward momentum is further reinforced by the rising 50-period moving average. The relative strength index is bullish and calls for a further advance.
Therefore, as long as 0.6870 is not broken, expect a new challenge to 0.6970 and even to 0.7000 in extension.

The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. Therefore, long positions are recommended with the first target at 0.6970 and the second one at 0.7000. In the alternative scenario, short position is recommended with the first target at 0.6855 if the price moves below its pivot points. A break of this target may push the pair further downwards, and one may expect the second target at 0.6835. The pivot point is at 0.6870.

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  #49  
Old 20-05-2017, 03:36 AM
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NZD/USD is currently going through a volatile corrective structure. Today, New Zealand released Visitor Arrivals report which showed an increased figure at 3.5% from 1.9% previously. Credit Card Spending declined to 6.4% which previously was at 7.2%. On the back of mixed data and lack of economic data from the US, today the pair is currently trading in the range of 0.6840 to 0.6940. Since yesterday, USD has been gaining ground against NZD. So any positive news on USD side will help USD to advance more against NZD.

Now let us look at the technical chart. The price is currently in a corrective structure inside a range between 0.6840 and 0.6940. As the dynamic level of 20 EMA is holding the price as resistance and overall trend is bearish, we expect a bearish move in the coming days. Unless the range is breached upward or downward with a daily close, we should refrain from taking a decision about a further price movement in this pair. A daily close below 0.6840 will open the pathway for a downward target towards 0.6660 support level. Alternatively, a daily close above 0.6940 will open the pathway for upward move towards 0.7100 resistance level.

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  #50  
Old 25-05-2017, 04:05 AM
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NZD/USD is expected to trade in a higher range as the bias remains bullish. Despite the pair retreating from 0.7050 (the high of May 23), the pair is still above the key support at 0.6980, which should limit the downside potential. Even though a continuation of consolidation cannot be ruled out, its extent should be limited.

Therefore, as long as 0.6980 holds on the downside, expect a rebound with a first target at 0.7050.
A break above this level would bring a new rise to 0.7080. The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. Therefore, long positions are recommended with the first target at 0.7050 and the second one at 0.7080. In the alternative scenario, the short position is recommended with the first target at 0.6960 if the price moves below its pivot points. A break of this target may push the pair further downwards, and one may expect the second target at 0.6930. The pivot point is at 0.6980.

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