NZDUSD - ( 4hrs 140 PIP ) Bullish Reversal Soon?
🔹Hello traders, Let's review and go over analysis and strategies for NZD / USD As you can see, prices ben in this downtrend for some days now + Price broke the inner uptrend This is a sign for day traders to go short in the market But the price certainly stopped at monthly low. I'm wondering now. Is price gonna break the monthly low or go back up to the trend line. This is marked out on the charts Because there seems to be a consolidation area forming up at this monthly low 0.60840$ or could price just be breathing before another move to the downside? Then my best guess would be at the previous monthly low
🔹NEWS : The New Zealand Dollar’s bearish momentum has lost stream although price action is struggling to find acceptance above the 0.6125/35 resistance area so far.
The improved market sentiment is providing some support to the Kiwi on Friday. Most European markets are going through moderate advances and Wall Street futures are pointing to a positive opening, which is weighing on the Safe-haven USD.
New Zealand data released earlier today revealed that business activity deteriorated further in December, while visitor arrivals experienced a significant decline compared to the same time last year. This was bad news for the Kiwi. In the US Calendar, the highlight of the day will be the Michigan Consumer Sentiment Index, which is expected to have improved moderately. After that, San Francisco Fed President, Mary Daly will close the week. NZD/USD Technical Analysis
The technical picture remains bearish although the doji candles on the Daily chart and the strong support area above 0.6070 suggest the possibility of an upside correction.
Immediate resistance is at 0.6135 and above here, 0.6180. Sup[ports are at the mentioned 0.6070/90 and 0.6000.
🔹Reasons : As you can see, price has been in this nice downtrend for some time now, but I'm starting to think that it's gonna switch at this area 0.60840$ I would suggest you mark this area out on your chart Because this seems to be a resistance level for price, that price cannot break through ``yet`` Or it won't. This could also be a reversal area a bullish buy side This is also a golden fib area. As you can see the price is in the 0.5 zone This is a sign for traders to look for buys in the market For the visible range it's currently Ferreting The lows of November and October Therefore this visible range is lvn this refers to a price level with relatively low trading volume.
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🗨️Always trying to come up with more quality setups for you guys!
⚠️Warning ⚠️
before you take this trait or take just my word, go look something up Look up some news That could be coming. More info about it Tomorrow And remember, risk management always 1 : 3 always more gains than losses!
✅Advice ✅
I think that every traveler should start doing is writing down The reasons for their setup on the charts If you can't write 5 down, don't take the trade This is coming from me personally After I did this, I saw major improvement in myself and in my trading so do it!
🤝Be pleased to check out some of my other ideas.
🙌Have a phenomenal trading day!
🔹NEWS : The New Zealand Dollar’s bearish momentum has lost stream although price action is struggling to find acceptance above the 0.6125/35 resistance area so far.
The improved market sentiment is providing some support to the Kiwi on Friday. Most European markets are going through moderate advances and Wall Street futures are pointing to a positive opening, which is weighing on the Safe-haven USD.
New Zealand data released earlier today revealed that business activity deteriorated further in December, while visitor arrivals experienced a significant decline compared to the same time last year. This was bad news for the Kiwi. In the US Calendar, the highlight of the day will be the Michigan Consumer Sentiment Index, which is expected to have improved moderately. After that, San Francisco Fed President, Mary Daly will close the week. NZD/USD Technical Analysis
The technical picture remains bearish although the doji candles on the Daily chart and the strong support area above 0.6070 suggest the possibility of an upside correction.
Immediate resistance is at 0.6135 and above here, 0.6180. Sup[ports are at the mentioned 0.6070/90 and 0.6000.
🔹Reasons : As you can see, price has been in this nice downtrend for some time now, but I'm starting to think that it's gonna switch at this area 0.60840$ I would suggest you mark this area out on your chart Because this seems to be a resistance level for price, that price cannot break through ``yet`` Or it won't. This could also be a reversal area a bullish buy side This is also a golden fib area. As you can see the price is in the 0.5 zone This is a sign for traders to look for buys in the market For the visible range it's currently Ferreting The lows of November and October Therefore this visible range is lvn this refers to a price level with relatively low trading volume.
🎁Please hit the like button and
🎁Leave a comment to support me!
🗨️Always trying to come up with more quality setups for you guys!
⚠️Warning ⚠️
before you take this trait or take just my word, go look something up Look up some news That could be coming. More info about it Tomorrow And remember, risk management always 1 : 3 always more gains than losses!
✅Advice ✅
I think that every traveler should start doing is writing down The reasons for their setup on the charts If you can't write 5 down, don't take the trade This is coming from me personally After I did this, I saw major improvement in myself and in my trading so do it!
🤝Be pleased to check out some of my other ideas.
🙌Have a phenomenal trading day!
💲Telegram : t.me/ForceTradingFX
