Nzdusdidea
New Zealand Dollar / U.S. Dollar NZDUSD to BUYTwo weeks ago, I stated market is getting ready for a buy as it entered oversold region of RSI.
This is an update for entry area to buy up, RSI bottomed at 27 reading and market hit a good support area as depicted in it's history.
Market has now retracing down to possibly form a double bottom as it often does, then a good uptrend likely to follow.
Will try a harmonic pattern for market to highlight possible take profit and retracement areas.
Warning; trading comes with risks, trade safely and within reason. All charts to be used for guideline purposes.
Original chart from two weeks ago attached.
Powerful Reversal Level: Possible BUY with Great RRBroad-based USD strength along with dovish RBNZ has led to a big Sell off in NZDUSD. However, it looks like the selloff is about to end soon.
Right now price is testing a very critical area at 0.6591. In the previous occasion, we have seen price reverse strongly from this area.
This kind of levels are powerful and often lead to quick reversals.
So, traders can look for BUY at 0.6591 with small SL at 0.6570.
TPs can be set at 0.6650 and 0.6783 respectively.
NZDUSD Triangle at h4So currently the price were somewhat exhausted at 0.68.
If this line holds, it open the posibilities of price creating a symmetrical triangle for the pair.
NZDUSD ranging, going downward!So, what i think is that price were continuing rejection last week.
The problem is that currently price were respecting the minor support at 0.6869.
Its important to understand what the price says about this line, which yet remain to be seen.
NZDUSD / TECHNICAL CHART ( CYPHER PATTERN )NZDUSD / TECHNICAL CHART
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NZDUSD has breached a major weekly level. Short!NZDUSD has breached a major weekly level. The upper trend line was also rejected. Looking for a retest back to the lower trend line and possibly a break of that trend line. -StampsFX
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ZNDUSD-Daily-15/12 Wait a good position to Buy in Week chart :https://tradingview.sweetlogin.com/x/tNOZuc4S/
in Daily chart:
H4:
