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Attachments: NZD/USD
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NZD/USD

Gidday NZ

Been great weather here sunny etc

Still waiting to see if we get a bounce

or support before 0.84
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0.8450 is likely to become immediate support for the pair before it plunges to 0.8430 and 0.8410. On the upside, 0.8500 and 0.8515 becomes immediate resistances.
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  • #7,104
  • Quote
  • Jul 31, 2014 10:32am Jul 31, 2014 10:32am
Quoting Fx_Anil
0.8450 is likely to become immediate support for the pair before it plunges to 0.8430 and 0.8410. On the upside, 0.8500 and 0.8515 becomes immediate resistances. {image}
Stochastic and MACD showing loss of momentum on daily chart, maybe it will retrace to 8500/8515 as you say. Hope so
  • #7,105
  • Quote
  • Jul 31, 2014 11:19am Jul 31, 2014 11:19am
starts Long Cookin' ... randomly "within the box"

Quoting iqyu5an
don't try this at your kitchen... trust me i don't know what i'm cookin' {image}
not euphoria follower
Quoting Spik
Finally got to 0,850X level. NZDUSD long @0,8508, 7 lots, TP 0,8708 (1/3), 0,8723 (1/3), 0,8738 (1/3), SL 0,8408 ... RR 1:2 as usual.
I don't like current price action. Closed mentioned long with -9 pips (some swap gained meanwhile).

Opened NZDUSD short @0,8498, 7 lots, TP 0,8448 (1/3), 0,8433 (1/3), 0,8418 (1/3), SL 0,8523 ... RR 1:2.
Quoting Spik
{quote} I don't like current price action. Closed mentioned long with -9 pips (some swap gained meanwhile). Opened NZDUSD short @0,8498, 7 lots, TP 0,8448 (1/3), 0,8433 (1/3), 0,8418 (1/3), SL 0,8523 ... RR 1:2.
Looking at Daily Chart, it will rebound for a while.
Possible retrace to .8650 depend on NFP
Quoting atria
{quote} Looking at Daily Chart, it will rebound for a while. Possible retrace to .8650 depend on NFP
We will get there eventually, but i see quite possible push towards (at least) to 0,8450 first.
Kind of random analysis in this thread. Just pick round numbers +/- 10 pips.

So,

Support levels are:
8440
8390
8340

Resistance:
8510
8560
8610

Now if only the markets honored round numbers consistently, we'd all be multi-trillionaires.

My analysis: As long as there isn't a flight to safety, the downturn in NZD is temporary. I would have liked it to fake out above the 2011 high before making a more long term reversal, but that didn't happen. The short at the 2014 high was too easy of a trade. Besides, the fundamentals look great for NZD. Not saying it can't go down to 83xx before rebounding, but long is the way to go. I'm not saying this just because I'm long : )
the diagonal or wedge break down, while breaking below 0.84, open the way to 0.825
Quoting Spik
{quote} Opened NZDUSD short @0,8498, 7 lots, TP 0,8448 (1/3), 0,8433 (1/3), 0,8418 (1/3), SL 0,8523 ... RR 1:2.
Not much further downfall to expect today (not much upside expected either), so i had to close short @0,8463 before 50 pip TP. So, +35 pips.
Quoting Spik
{quote} Not much further downfall to expect today (not much upside expected either), so i had to close short @0,8463 before 50 pip TP. So, +35 pips.
well its friday and nfp in few hours.. good job. another profit trade.
Quoting 2012mysterio
{quote} well its friday and nfp in few hours.. good job. another profit trade.
Indeed, NFP may produce another 20-30 pip selloff in NZDUSD but the setup is less certain as was the first one, so i'll probably pass on that... or trade with smaller amounts... i'll decide on the price action before news.
What I see happening with NZDUSD is that NFP does well and NZDUSD drops along with Unemployment Rate having a good chance at being positive or neutral as well. The second scenario I see happening is that NFP doesn't do well and NZDUSD spikes a bit and then is leveled off with a positive/neutral Unemployment Rate but I think NFP will be the overpowering driving force and key factor here more than anything.
any GN views here? I was watching for short setups.
I entered long 2h ago at level 0.84747
expecting fibo 50% retrace to 0.86470

Edit: will be happy if we see 0.86
looks buy signal to me 30 Mn chart?
Attached Image
If skills could be acquired by watching, every dog would be a butcher. Turk
Looks like a nice setup for a sell for me for the last 12 hours for pure technical analysis.

News will dictate though. I'm going with my original analysis and saying that the US Dollar will do well and NZDUSD will drop.

Either way, I should be able to make a bit of profit.
Descending trend line continued maintaining its importance. However, horizontal support near 0.8460 can become a reversal point for the pair.
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Quoting Zircon
looks buy signal to me 30 Mn chart? {image}
catch it
Attached Image
If skills could be acquired by watching, every dog would be a butcher. Turk
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