NZDUSD Discussion

if you trade NZD/USD let me know. what is your system? what recent experience do you have with this pair? what sites do you use to research? how can you tell what is a good and tradeable report? does NZD/USD correlate well with any other pairs?

The U.S. are always trading this pair - goes without saying. Same goes for the M8S up under...

mac

just bin lurkin on the ST forex and see theres a new NZD chrt there now if it helps u

samar

where are these charts?

not on any mt4 based platform ive seen, but gft has a platform with 35 or so pairs

I think NZDUSD can be short now, if it does not steadily and gradually go up.
1st aims at 0.6605
2nd aims at 0.6580

It seems it may touch 6700 then turn back.

kolachi

NZDUSD anybody long on this pair?

VX,
I don't trade that pair, but just had a quick look at it. I would keep a stop @ no lower than 6985. If she goes below that it might be a big drop.

Good luck... if you get a chance to squeeze out a few pips than do so - reenter long maybe after 7030. Wait till price gets out of the channel...

Good luck.

MM

Hi,

Yap Agree.There is a pinbar on daily chart.but have to wait for the price confirm it.

Cheers,

I don't usually look at classic chart patterns but this is just so neat, plus it looks like a great volatilty b/o play. Could go either way.

But how much higher will people let it go? I assumed the 70's was top heavy.

Any one please explain what is going on with NZDUSD.
Will it again hit 7500 or 7200?

Pull out a weekly chart. We are going through a healthy uptrend but we have just banged on a historical high, retracing a bit down off that level. As far as I am concerned, it's best to sit it out for the time being until that 0.75 level is taken out to the upside, or the uptrend is broken to the downside.

I'll play it wise and stay sidelined on this currency pair for the time being until the market shows clear signals of its upcoming direction.

I went long yesterday on strong Retail Sales. Too little too late, so I'm chewing a -5 to +15 trade for several hours. But Im looking for strong fundamental to inspire new trades in the 0.74 area.

Gonna review that position on tomorrow's USD data.

Got some 16 pips on short and closed. As you said may be staying out of it will be a wise....
But as I read many analysis over the sites, is it initial stages of decline? I dont knwo how to interprete the price..
Help me out to get the idea of price action.
I learned a lot in this forum, there are lot of great people in this forum.

thanks in advance.

I personally like to read price action on the shorter time frames at decision-taking areas, such as areas of key support/resistance like the 0.7500 historical high we hit not long ago: is price breaking through in momentum? are we instead seeing weakness signals? perhaps a reversal pattern or sideways consolidation? or are we snapping back down off that level in a momentum thrust?

Basically, when price hits a level of decision-taking, I zoom into the shorter time frames and ask myself: alright, what's price doing at this precise moment?

Let me illustrate with a screenshot of what I was reading when we hit the 0.7500 area (previous historical high) and these are the notes I took on my trading notepad:

- Price hits previous historical high of 0.7500. Time to zoom into shorter time frame to read price at that decision-taking level.
- Price doesnt take out that level.
- Price enters a sideways range.
- Price forms a triple top.
- Price breaks the up-trendline.
- My Moving Averages begin to curl to the downside.
- Price retests that trendline from below.
- Sideways range broken to the downside.
- My Moving Averages and Price slowly declining south.

CONCLUSION: 0.7500 holding price once again, at least for the time being. Re-run the price action reading exercise if price re-tests that level again in the near future.

PS: anyway, this is what I personally do when price hits one of those decision-taking levels. I am not saying it's the only way nor the better way to read what price is doing. It's just my method of trading.

This pair is discussed here:
http://www.forexfactory.com/showthread.php?t=26543

The driving force of the Bull NZDUSD is the NZDJPY - the carry traders. NZD has the highest interest in the market and gives the best swaps per equity - GBPJPY pares no better.

In my opinion as shown on that thread, NZDUSD is doomed to 0.65. All we need is confirmation from:
1. NZD data to show badly. Unfortunately DATA are not working out in favor of the short as one good number comes after another.
2. JPY carry unwinding. Thus far, JPY carry traders are still in full waves.
3. Watch their Gov Official "Bollard?" make cursing statements against NZDJPY traders. Everytime he does this, NZDUSD drops 20-30 pips.

Shorting it @ 0.75 is the Holy Grail - IF it ever reaches 0.75! You missed the ride.

NZDUSD is simply tooo high to buy.

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BTW.. Nothing we can do if NZDJPY traders wants it to go up/down. Just follow their lead.

Remarkable reversed Head and Shoulder in the 4hr. If data comes out accordingly later on, would provide a nice opportunity, nice R:R.

Thoughts?

heading for 0.7100 I'd say.