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  #11  
Old 17-02-2017, 05:42 AM
painofhell painofhell is offline
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Overview:
The NZD/USD pair movement was clear as it took place in an uptrend channel for a while. The trend showed signs of a bullish market. Amid the previous events, the price is still moving between the levels of 0.7191 and 0.7283. The daily resistance and support are seen at the levels of 0.7250 and 0.7283 respectively. Hence, the NZD/USD pair is continuing to trade in a bullish trend from the new support level of 0.7191; to form a bullish channel. Besides, it should be noted major resistance is seen at 0.7283, while immediate resistance is found at 0.7255.

Then, we may anticipate potential testing of 0.7255 to take place soon. Moreover, if the pair succeeds in passing through the level of 0.7255, the market will indicate a bullish opportunity above the level of 0.7255. A breakout of that target will move the pair further upwards to 0.7283. Buy orders are recommended above the area of 0.7191 with the first target at the level of 0.7255; and continue towards 0.7283. On the other hand, if the NZD/USD pair fails to break out through the resistance level of 0.7283; the market will decline further to the level of 0.7255 to set around it for a while. Generally, we still prefer a bearish market in coming hours.

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  #12  
Old 18-02-2017, 02:07 AM
painofhell painofhell is offline
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Overview:
Amid the previous events, the price is still trading between the levels of 0.7162 and 0.7226. The NZD/USD pair movement was controversial as it took place in a narrow sideways channel for a while. The market showed signs of instability. On the H1 chart, the daily resistance and support are seen at the levels of 0.7226 and 0.7162 respectively.

Resistance is seen at the level of 0.7226 today. So, sell below 0.7226 with the first target at 0.7190 to test yesterday's bottom. In overall, we still prefer the bearish scenario as long as the price is below the level of 0.7190. Furthermore, if the NZD/USD pair is able to break out the bottom at 0.7190; the market will decline further to 0.7162. Also, it should be noted that the double bottom is seen at 0.7134. On the other hand, stop loss should always be taken into account accordingly. It will be beneficial to set the stop loss above the last bullish wave at the level of 0.7226.

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  #13  
Old 23-02-2017, 03:26 PM
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NZD/USD is expected to trade in higher range as the bias remains bullish. The pair is consolidating around its 20-period and 50-period moving averages. Nevertheless, 0.7145 is playing a key support role, which should limit the downside potential. The relative strength index is above its neutrality level at 50 and lacks downward momentum. As long as 0.7145 is support, look for a further upside toward 0.7190 and even 0.7205 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 0.7190 and the second one at 0.7205. In the alternative scenario, short positions are recommended with the first target at 0.7125, if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 0.7110. The pivot point is at 0.7145.
Resistance levels: 0.7235, 0.7260, and 0.7260
Support levels: 0.7130, 0.7110, and 0.7070

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  #14  
Old 24-02-2017, 09:06 PM
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Overview:
The NZD/USD pair continues to move downwards from the level of 0.7220. Currently, the price is seen at 0.7240. Today, the first resistance level is seen at 0.7220 followed by 0.7265 (major resistance), while the daily support 1 is found at 0.7118. Besides, the level of 0.7118 represents a daily pivot point for that it is acting as a key level today.

Amid the previous events, the pair is still in a downtrend because the NZD/USD pair is trading in a bearish trend from the new resistance line of 0.7265 towards the first support level at 0.7118 in order to test it. If the pair succeeds to pass through the level of 0.7118, the market will indicate a bearish opportunity below the level of 0.7118 with the second target of 0.7057. However, if a breakout happens at the resistance level of 0.7265, then this scenario may be invalidated.

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  #15  
Old 04-03-2017, 12:16 AM
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Overview:
The trend of the NZD/USD pair movement was controversial as it took place in a downtrend channel. Amid the previous events, the price is still moving between the levels of 0.7129 and 0.6942. Also, the daily resistance and support are seen at the levels of 0.7129 and 0.6942 respectively. Therefore, it is recommended to be cautious while placing orders in this area. So, we need to wait until the sideways channel is completed on the H4 chart.

The market moved from its bottom at 0.7072 and continued to fall towards the top of 0.7020. Today, the current rise will probably remain within a framework of correction around the area of 0.7072 or 0.7100. However, if the pair fails to pass through the level of 0.7072 or 0.7100, the market will indicate a bearish opportunity below the strong resistance level of 0.7072 or 0.7100 (the level of 0.7072 coincides with the ratio of the 38.2% Fibonacci Expansion). Since there is nothing new in this market, it is not bullish yet. Sell deals are recommended below the level of 0.7072 or 0.7100 with the first target at 0.7000.
If the trend breaks the support level of 0.7000, the pair is likely to move downwards continuing the development of a bearish trend to the level 0.6942 in order to form a new double bottom.

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  #16  
Old 10-03-2017, 01:51 AM
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On December 16, the price level of 0.6960 failed to apply enough bullish pressure. Instead, bearish movement continued toward the lower limit of the depicted BUY zone (0.6860) which provided significant bullish rejection on December 23.

Bearish persistence below 0.7250 is needed to allow further bearish decline toward 0.7100 (note the previous bearish DAILY candlesticks expressed within the SELL-Zone).
As anticipated, bearish persistence below 0.7100 (Key-Level) allows further bearish movement toward 0.6960 which failed to provide enough bullish support for the pair.
That is why, further bearish fall is expected towards 0.6860 (the lower limit of the depicted BUY zone) where price action should be watched for a possible BUY entry.

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  #17  
Old 10-03-2017, 03:41 PM
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On December 16, the price level of 0.6960 failed to apply enough bullish pressure. Instead, bearish movement continued toward the lower limit of the depicted BUY zone (0.6860) which provided significant bullish rejection on December 23.

As anticipated, bearish persistence below 0.7100 (Key-Level) allows further bearish movement toward 0.6960 which failed to provide enough bullish support for the pair.
That is why, further bearish fall is expected towards 0.6860 (the lower limit of the depicted BUY zone) where price action should be watched for a possible BUY entry.

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  #18  
Old 16-03-2017, 05:21 AM
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On December 16, the price level of 0.6960 failed to apply enough bullish pressure. Instead, the pair continued sliding toward the lower limit of the depicted buy zone (0.6860) which provided significant bullish rejection on December 23.

As anticipated, bearish persistence below 0.7100 (the key level) allows further decline toward 0.6960 which failed to provide enough support for the pair.
That's why a further fall is expected toward 0.6860 (the lower limit of the depicted BUY zone) where price action should be watched for a possible BUY entry.
On the other hand, the price level of 0.6960 remains a prominent key level to be watched to determine the next destination of the pair.

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  #19  
Old 17-03-2017, 06:26 AM
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Overview:
The NZD/USD pair was trading around the area of 0.7075- 0.6946 Today, the level of 0.7075 represents the double top on the H4 chart. The pair has already formed minor resistance at 0.6946 and the strong resistance is seen at the level of 0.7004 because it represents the weekly resistance 1. So, major resistance is seen at 0.7004, while immediate support is found at 0.6889. If the pair closes below the price of 0.6889, the NZD/USD pair may resume its movement to 0.6850 to test the daily support 2.

We expect the NZD/USD pair to move between the levels of 0.6946 and 0.6850. Equally important, the RSI is still calling for a strong bearish market. The current price is also below the moving average 100. As a result, sell below the double top of 0.6946 with targets at 0.6869 and 0.6850. However, stop loss should always be taken into account; accordingly, it will be good to set the stop loss above the last bullish wave at the level of 0.7004.

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  #20  
Old 17-03-2017, 04:51 PM
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NZD/USD had a long non-volatile bearish trend since it had bounced from the resistance area near 0.7240. However, after the FOMC had announced its decision to hike the rate, USD showed some bearish interference in the market. Today, New Zealand posted the Business Manufacturing Index which showed a stable increase from the previous reading of 52.2 to 55.2. Speaking about USD, it will also see some key events today such as the G20 meeting and the Preliminary UoM Consumer Sentiment which previously was at 96.3 and is expected to rise to 97.1. Besides, the Industrial Production report is due to be revealed. Previously it was at -0.3% but today a positive result of 0.3% is expected. So, this day is quite important for USD as some crutial high-impact data is going to be published.

Now let us look at the technical picture. The price found the resistance at 20 EMA yesterday after an impulsive bullish move of USD triggered by the interest rate hike decision. Currently, the price is in the middle of the structure and a much deeper decline is expected towards 0.6900 area within yesterday's bearish impulsive move. On the other hand, if the price breaks above the recent high at 0.7050 with a daily close, we will be expecting bullish move towards the resistance at 0.7130.

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