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  #41  
Old 26-05-2017, 07:25
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Default Re: Technical analysis of NZD/USD By INSTAFOREX

NZD/USD is expected to trade in a higher range as the movement is supported by a rising trend line. The pair has been riding a bullish trend line since May 19, which confirmed a positive outlook. The upward momentum is further reinforced by the rising 20-period and 50-period moving averages. The relative strength index is mixed to bullish.

To conclude, as long as 0.6980 holds on the downside, look for a new advance to 0.7080 and even to 0.7095 in extension.

The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. Therefore, long positions are recommended with the first target at 0.7080 and the second one at 0.7095. In the alternative scenario, the short position is recommended with the first target at 0.6960 if the price moves below its pivot points. A break of this target may push the pair further downwards, and one may expect the second target at 0.6930.

The pivot point is at 0.6980.
Resistance levels: 0.7080, 0.7095, and 0.7135
Support levels: 0.6960, 0.6930, and 0.6900




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  #42  
Old 02-06-2017, 16:30
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Default Re: Technical analysis of NZD/USD By INSTAFOREX

Overview:
The NZD/USD pair is in a bullish trend from the support levels of 0.7001 and 0.7053. As a consequence, the first and second support levels are seen at 0.7053 and 0.7001 respectively.
Currently, the price is in a strong bullish channel. This is confirmed by the RSI indicator signaling that we are still in a bullish trending market. As the price is still above the moving average (100), major support is seen at 0.7005, which coincides with a golden ratio (61.8% of Fibonacci retracement levels).
Consequently, the second support is set at the level of 0.7001. So, the market is likely to show signs of a bullish trend around the spot of 0.7001/0.7053.
Consequently, the second support is set at the level of 0.7001. So, the market is likely to show signs of a bullish trend around the spot of 0.7001/0.7053.
In other words, buy orders are recommended above the level of 0.7053 with the first target at the level of 0.7121. Furthermore, if the trend is able to breakout through the first resistance level of 0.7121, we should see the pair climbing towards the second resistance (0.7166) to test it.
It would also be wise to consider where to place a stop loss; this should be set below the second support of 0.7001.




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  #43  
Old 09-06-2017, 18:51
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Default Re: Technical analysis of NZD/USD By INSTAFOREX

NZD/USD has been trading in ta ight range and long position is still recommended. The pair is expected to trade with a bullish bias above 0.7165. Although the pair broke below the 20-period and 50-period moving averages, it is still trading above the key support at 0.7185, which should limit the downside potential. Even though a continuation of consolidation cannot be ruled out, its extents should be limited.
To conclude, as long as 0.7165 is not broken, look for a new upside to 0.7260 and even to 0.7280 in extension.

At present, the pair is trading above its pivot point. It is likely to trade in a higher range as long as it remains above its pivot point. Therefore, long position is recommended with the first target at 0.7260 and the second one at 0.7300. In the alternative scenario, short position is recommended with the first target at 0.7145 if the price moves below its pivot points. A break of this target is expected to push the pair further downwards, and one may expect the second target at 0.7100. The pivot point lies at 0.7165.

Graph Explanation: The black line shows the pivot point; the present price above pivot point indicates the bullish position and below pivot points indicates the short position. The red lines shows the support levels and the green line indicates the resistance levels. These levels can be used for enter and exit trades.
Resistance levels: 0.7260, 0.7280, and 0.73000
Support levels: 0.7145,0.7100, and 0.7045




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  #44  
Old 16-06-2017, 11:57
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Default Re: Technical analysis of NZD/USD By INSTAFOREX

NZD/USD has been in a bullish non-volatile trend since the break above 0.7050 resistance level. Currently the price is showing some volatility in the market on the back of recent economic reports from the US and New Zealand. New Zealand published the GDP report at 0.5% which was better than previous value of 0.4% but worse than expected value of 0.7% which affected the NZD negatively yesterday. Moreover, the Fed rate hike decision provided some positive gains on USD side which currently paused the NZD bullish trend. Today NZ Business Manufacturing Index was published which showed a rise to 58.5 from 56.9 previously and the news helped NZD to make some gains today. The United States will unveil the Building Permits report which is expected to increase to 1.25M from 1.23M previously. The Housing Starts report is also expected to show a rise to 1.23M from 1.17M. As the high impact US reports are to be published, a good amount of volatility is expected to hit the market today where positive USD reports may lead to counter trend move in this pair in the coming days.

Now let us look at the technical view. The price has moved in a non-volatile way since the break above the resistance at 0.7050. There have been very little retracements in the trend so far which has taken the price quite far from the dynamic level of 20 EMA. As of the recent bearish price action, currently the pair is expected to retrace back to 20 EMA. If 20 EMA is breached below, then the price may fall to 0.7050 level to retest it as a support before proceeding further upward. The bias is currently bullish in this pair until the price breaks below 0.7050 with a daily close.




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  #45  
Old 16-06-2017, 11:59
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Default Re: Technical analysis of NZD/USD By INSTAFOREX

Wave summary:
Our preferred count remains that a low likely was seen with the test of 1.5370 and wave iii/ higher is ready to develop. That said, we need a break above the resistance line near 1.5532 to confirm that wave ii/ has completed and wave iii/ higher to above 1.6237 is developing.
Until the break above the resistance-line near 1.5532 is seen, we must allow for a retest of the 1.5370 low and even a spike below, but that should be short lived.

Trading recommendation:
We are long EUR from 1.5540 with stop placed at 1.5340. If you are not long EUR yet, then buy a break above 1.5532 and use the same stop.




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  #46  
Old 22-06-2017, 13:58
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Default Re: Technical analysis of NZD/USD By INSTAFOREX

Our 20th June, targets have been hit precisely as predicted. NZD/USD rebounded from our second target 0.7195 and now is expected to trade with a bullish outlook. The pair made a rebound from 0.7195 (the low of June 21) and broke above both 20-period and 50-period moving averages. The relative strength index lacks downward momentum.
Hence, as long as 0.7210 holds on the downside, expect a further upside to 0.7260 and even to 0.7280 in extension.
Strategy: BUY Stop Loss: 0.7230. Take Profit: 0.7300

Chart Explanation: The black line shows the pivot point. Currently, the price is above the pivot point which indicates the bullish position. If it is below the pivot points, it indicates the short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.

Resistance levels: 0.7300, 0.7320, and 0.7355
Support levels: 0.7210, 0.7195, and 0.7160




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  #47  
Old 27-06-2017, 23:27
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Default Re: Technical analysis of NZD/USD By INSTAFOREX

All our targets which we predicted yesterday of the NZD/USD pair have been hit. NZD/USD is still trading on upside and expected to follow the bullish bias above 0.7275. Although the pair broke below its 20-period and 50-period moving averages, a support base at 0.7275 has been formed and has allowed for a temporary stabilization. The relative strength index lacks downward momentum.
Hence, as long as 0.7275 holds on the downside, look for a further rise to 0.7350 and even to 0.7375 in extension.
Strategy: BUY Stop Loss: 0.7275. Take Profit: 0.7350

Chart Explanation: The black line shows the pivot point. Currently, the price is above the pivot point which indicates the bullish position. If it is below the pivot points, it indicates the short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.




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  #48  
Old 29-06-2017, 16:01
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Default Re: Technical analysis of NZD/USD By INSTAFOREX

NZD/USD is expected to continue trading in a lower range and we will keep our yesterday's target intact. The pair recorded lower tops and lower bottoms, which confirmed the negative outlook. The downward momentum is further reinforced by the declining 20-period and 50-period moving averages. The relative strength index is capped by the bearish trend line.
Hence, as long as 1.3075 is not surpassed, expect a further downside to 0.7255 and even to 0.7240 in extension.
Strategy: SELL Stop Loss: 0.7320. Take Profit: 0.7255

Chart Explanation: The black line shows the pivot point. Currently, the price is above the pivot point which indicates the bullish position. If it is below the pivot points, it indicates the short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Resistance levels: 0.7355, 0.7375, and 0.7405
Support levels: 0.7255, 0.7240, and 0.7200




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  #49  
Old 05-07-2017, 01:46
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Default Re: Technical analysis of NZD/USD By INSTAFOREX

As predicted NZD/USD downside targets have been hit and NZD/USD is expected to continue its downside movement. The pair remains below its key resistance at 0.7305 and is looking for a lower bottom. The 20-period moving average stays below the 50-period moving average, and the relative strength index is around its neutrality area at 50, lacking upward momentum.
As long as the key resistance at 0.7305 is not broken above, the risk of a drop to 0.7240 remains high. Further down leg to 0.7225 is also likely.
Strategy: SELL Stop Loss: 0.7305. Take Profit: 0.7240

Chart Explanation: The black line shows the pivot point. Currently, the price is above the pivot point which indicates the bullish position. If it is below the pivot points, it indicates the short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Resistance levels: 0.7320, 0.7345, and 0.7370
Support levels: 0.7240, 0.7225, and 0.7200




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  #50  
Old 07-07-2017, 20:02
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Default Re: Technical analysis of NZD/USD By INSTAFOREX

NZD/USD has been quite volatile recently, struggling to reach the resistance level of 0.7370. This week, New Zealand has provided mixed economic reports which are the main reason behind the struggle of the bullish move in this pair now. Recently, NZ NZIER Business Confidence report was published with a rise to 18 from the previous value of 17 and ANZ Commodity price showed a decrease to 2.1% from the previous value of 3.2%. Today is an important day for USD as a batch of high impact economic reports are due later. Today, US Average Hourly Earnings report is to be published which is expected to show a slight increase to 0.3% from the previous score of 0.2%, Non-Farm Unemployment Change is expected to show an increase to 175k from the previous value of 138k, and the Unemployment Rate is expected to be unchanged at 4.3%. Besides, FED Monetary Policy report is also going to be published today which is expected to be hawkish as well. Though the economic calendar is packed with high impact data from the US today, any negative outcome of any report may lead to further gains on NZD in the coming days.

Now let us look at the technical chart. The price has recently bounced off the dynamic level support of 20 EMA and rejected the bears of the level. Amid the current volatility in the market, if the price remains above the 20 EMA there are higher chances of moving towards the resistance of 0.7370 in the coming days. On the other hand, if the price breaks below 20 EMA with a daily close, the bullish bias will come to end. A daily close today will signal a further move in this pair.




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  #51  
Old 07-07-2017, 20:19
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Default Re: Technical analysis of NZD/USD By INSTAFOREX

NZD/USD has been quite volatile recently, struggling to reach the resistance level of 0.7370. This week, New Zealand has provided mixed economic reports which are the main reason behind the struggle of the bullish move in this pair now. Recently, NZ NZIER Business Confidence report was published with a rise to 18 from the previous value of 17 and ANZ Commodity price showed a decrease to 2.1% from the previous value of 3.2%.

Today is an important day for USD as a batch of high impact economic reports are due later. Today, US Average Hourly Earnings report is to be published which is expected to show a slight increase to 0.3% from the previous score of 0.2%, Non-Farm Unemployment Change is expected to show an increase to 175k from the previous value of 138k, and the Unemployment Rate is expected to be unchanged at 4.3%. Besides, FED Monetary Policy report is also going to be published today which is expected to be hawkish as well. Though the economic calendar is packed with high impact data from the US today, any negative outcome of any report may lead to further gains on NZD in the coming days.




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  #52  
Old 12-07-2017, 20:25
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Default Re: Technical analysis of NZD/USD By INSTAFOREX

NZD/USD is expected to trade with a bullish outlook. Although the pair posted a pullback from 0.7240, it is still trading above the key support at 0.7200 (the low of July 11), which should limit the downside potential. Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
To conclude, as long as 0.7245 is not broken, look for a rebound with targets at 0.7280 and 0.7300 in extension.
Strategy: BUY Stop Loss: 0.7245 Take Profit: 0.7280

Chart Explanation: The black line shows the pivot point. Currently, the price is above the pivot point which indicates the bullish position. If it is below the pivot points, it indicates the short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.

Resistance levels: 0.7280, 0.7300, and 0.7375
Support levels: 0.7215, 0.7200, and 0.7165




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  #53  
Old 14-07-2017, 13:02
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Default Re: Technical analysis of NZD/USD By INSTAFOREX

The NZDUSD currency pair experienced high volatility during the week and moved higher towards the value of 0.7200.
The bullish bias remains in the market, taking us closer to the resistance level 0.7350.
At the same time, traders should pay attention not to take long positions, in case the "bullish" potential will not fall and prices were able to firmly fix above the value of 0.7350, it will open the way through 0.7400 / 0.7480.

- It is recommended to buy the pair after fixing the price above the level of 0.7370 with the target to move near 0.7400 / 0.7480.
- Selling the pair is recommended after the resumption of the downward interest, probably after the formation of the cluster within the level of 0.7350.




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  #54  
Old 20-07-2017, 20:25
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Default Re: Technical analysis of NZD/USD By INSTAFOREX

Our target which we predicted in 18th July analysis has been hit. NZD/USD is expected to continue its upside movement. Although the pair posted a pullback, it is still trading above the key support at 0.7330, which should limit the downside potential.
The relative strength index calls for a new upleg. Hence, as long as 0.7330 is not broken, look for a further rise to 0.7405 and even to 0.7435 in extension.
Strategy: BUY Stop Loss: 0.7330 Take Profit: 0.7405

Chart Explanation: The black line shows the pivot point. Currently, the price is above the pivot point which indicates the bullish position. If it is below the pivot points, it indicates the short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Resistance levels: 0.740, 0.7405, and 0.7445
Support levels: 0.7310, 0.7285, and 0.7245




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  #55  
Old 21-07-2017, 17:24
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Default Re: Technical analysis of NZD/USD By INSTAFOREX

Both of our targets have been hit which we predicted in yesterday's analysis. NZD/USD is still expected to trade in a higher range as the pair is trading above the trend line. The pair accelerated on the upside after breaking above the upper boundary of the bearish channel. The upward momentum is further reinforced by the rising 20-period and 50-period moving averages. The relative strength index is bullish and calls for further advance.
Hence, as long as 0.7380 holds on the downside, look for a new advance to 0.7470 and even to 0.7500 in extension.

Chart Explanation:
The black line shows the pivot point. Currently, the price is above the pivot point which indicates the bullish position. If it is below the pivot points, it indicates the short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Resistance levels: 0.7470, 0.7500, and 0.7545
Support levels: 0.7360, 0.7330, and 0.7285




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  #56  
Old 26-07-2017, 23:32
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Default Re: Technical analysis of NZD/USD By INSTAFOREX

NZD/USD is still expected to trade with bearish bias as far as the price trades near 0.7460. The pair is under pressure below its key resistance at 0.7460. The downward momentum is further reinforced by the declining 50-period moving average.
Hence, as long as 0.7460 is not surpassed, another decline to 0.7400 and even to 0.7380 seems more likely to occur.
Strategy: SELL Stop Loss: 0.7460 Take Profit: 0.7400

Chart Explanation: The black line shows the pivot point. Currently, the price is above the pivot point which indicates the bullish position. If it remains below the pivot point, it indicates the short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Resistance levels: 0.7480, 0.7500, and 0.7530
Support levels: 0.7400, 0.7380, and 0.7360




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  #57  
Old 28-07-2017, 03:22
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Default Re: Technical analysis of NZD/USD By INSTAFOREX

NZD/USD is expected to trade in higher range and continue its upside movement. The pair accelerated to the upside after breaking above the declining trend line since July 21. The upward momentum is further reinforced by both rising 20-period and 50-period moving averages. The relative strength index is bullish and calls for a further rise.
To sum up, as long as the price holds above 0.7485, look for a new challenge to 0.7560 and even to 0.7590 in extension.
Strategy: BUY Stop Loss: 0.7485 Take Profit: 0.7560

Chart Explanation:

The black line shows the pivot point. Currently, the price is above the pivot point which indicates the bullish position. If it remains below the pivot point, it will indicate the short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Resistance levels: 0.7560, 0.7590, and 0.7630
Support levels: 0.7450, 0.7410, and 0.7380




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  #58  
Old 02-08-2017, 09:26
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Default Re: Technical analysis of NZD/USD By INSTAFOREX

NZD/USD is expected to trade in a lower range and is under pressure. The pair broke below the lower boundary of Bollinger Bands, which indicated the continuation of a bearish trend. The downward momentum is further reinforced by declining 20-period and 50-period moving averages. The relative strength index broke below its 30 level.
To conclude, as long as 0.7475 is not surpassed, look for a further decline to 0.7380 and even to 0.7350 in extension.
Strategy: SELL Stop Loss: 0.7475 Take Profit: 0.7380

Chart Explanation: The black line shows the pivot point. Currently, the price is above the pivot point which indicates the bullish position. If it remains below the pivot point, it will indicate the short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Resistance levels: 0.7495, 0.7525, and 0.7575
Support levels: 0.7380, 0.7350, and 0.7300




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  #59  
Old 04-08-2017, 17:30
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Default Re: Technical analysis of NZD/USD By INSTAFOREX

The NZD/USD is in a bearish short-term trend as long as price is below 0.7525. Price is making lower lows and lower highs since July 27th. I expect more Dollar strength to push this pair towards 0.73-0.7260 at least.

Blue lines - bearish channel
The NZD/USD is inside a bearish short-term channel. Channel resistance is at 0.7455. In this area, we also find the resistance by the Ichimoku cloud. So price has turned back up to back test the breakdown of the cloud....holding below the cloud will strengthen our bearish scenario for a move lower.




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  #60  
Old 10-08-2017, 23:49
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Default Re: Technical analysis of NZD/USD By INSTAFOREX

All our targets which we predicted in Yesterday's analysis has been hit. NZD/USD is still under pressure and expected to trade with a bearish outlook. Although the pair broke above its 20-period and 50-period moving averages, it is still trading below the key resistance at 0.7315, which should limit the upside potential. Even though a continuation of technical rebound cannot be ruled out, its extent should be limited.
Therefore, as long as 0.7315 holds on the upside, a further drop to 0.7240 and even to 0.7210 seems more likely to occur.

Chart Explanation:
The black line shows the pivot point. Currently, the price is above the pivot point which indicates the bullish position. If it remains below the pivot point, it will indicate the short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Resistance levels: 0.7350, 0.7370, and 0.7390
Support levels: 0.7240, 0.7210, and 0.7180




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