Browsing Posts in NZD Pairs
NZD/USD, July 16, M30, 8am UK Time
NZD/USD in an 8 day up trend, broke all sorts of long term down trends and took a breather after peaking at .73. Fib lines and decision zones will determine if the move down through Asia was the turnaround or just a pullback. Watch the 61% and the 50% Fib level. Trade what you see and don’t forget its Friday, i.e. targets like to set and achieve aggressive targets.
I am not that good at trading markets in extremes and won’t trade today. See you later for the evening update.
NZD/USD, July 16, 8am UK Time
NZD/USD, July 16/17, Midnight UK Time, H1
The pair behaved perfectly today – it set and achieved an aggressive target, as mentioned in my morning post above. After peaking at .73 we saw quick pullbacks to the 23, 38, 50 and 61%Fib level. The latter, as expected, showed more resistance, but broke with a big bang to the downside, sending the pair downt to the 100% re-tracement level at about .71. After an 8 day up move, this was a very logical and highly probable trade. Hope many of you out there took it.
NZD/USD July 16/17, Midnight UK Time
NZD/USD, July 15, M30, 8am UK Time
Good morning everybody. Similar to my logic yesterday, I have picked a pair with a very strong currency -NZD- and a very weak currency -USD-. The pair has been in an up trend for 7 days in a row and is pretty likely to go down today, like AUD/JPY yesterday and for the rest of the week (please check out the AUD/JPY post for more info).
I drew a Fib based on the last push up (M30). 0.7242 was confirmed as the ceiling three times in a row and the pair has started to go down first to the 23 %Fib level and then close to the Daily S1 level at 0.7180. This has dropped already about 50 pips during Asia and another 50 pips during the early Europe session, hence, I expect some re-tracement before another move down. The critical decision zones are marked blue and I am looking for breakouts to the trendlines. Every pip NZD/USD goes up is great because it will enable me to go in short at a more attractive level. Note to myself: We are looking for highly profitable shorts, don’t get in with a long at statistical highs.
NZD/USD, July 15
NZD/USD, July 15, 8pm UK Time
After 7 days in an up-trend, NZD/USD decided to go up for another day! After forming a double top, it fell, as anticipated, to the 0.718 level, found support at the trend line and shot up, step by step, blasting through all levels, close to 0.73. Watch this level for direction, but it is statistically likely that this will turn around soon.
NZD/USD, July 15, 8pm UK Time
