December 26th, 2019
The New Zealand dollar is continually pushing forward, and it has passed the @0.6635 peak as the first task after the Christmas day December 25th. However, NZD/USD was hanging and lingering in @0.6635 area for hours, and the resistance @0.6635 was breached and then retreated several times which raises uncertainty about @0.6635 level if it was an accredited zone.
Fibonacci retrace 0.786 is a few pips away. Bears might take advantage of this psychological level to stretch the pair down to Fibo deck 0.618 at @0.6567.
A break above @0.6665 could push the pair to aim uptick resistant at @0.67910.
The New Zealand dollar is continually pushing forward, and it has passed the @0.6635 peak as the first task after the Christmas day December 25th. However, NZD/USD was hanging and lingering in @0.6635 area for hours, and the resistance @0.6635 was breached and then retreated several times which raises uncertainty about @0.6635 level if it was an accredited zone.
Fibonacci retrace 0.786 is a few pips away. Bears might take advantage of this psychological level to stretch the pair down to Fibo deck 0.618 at @0.6567.
A break above @0.6665 could push the pair to aim uptick resistant at @0.67910.
Wednesday 18th, 2019
The price action rebounded to the key support @66339 without the bulls intrusion. The slender candle confirms the price bounce. So far the bears are winning the challenge, and the currency pair would have an eye to fill the @0.6455 area and beyond.
The price action rebounded to the key support @66339 without the bulls intrusion. The slender candle confirms the price bounce. So far the bears are winning the challenge, and the currency pair would have an eye to fill the @0.6455 area and beyond.
Seems that the price is still pushing Up!
Dear @DarioN1,
Thank you for your message and for joining my small community.
A break above @0.66339 would carry the currency pair up to the next resistance at @0.6792.
However, we should consider that the market is spending its holidays. Banks are closed or on standby but promissory notes are awake, and they could manipulate the market in their advantages, in such confined condition supports and resistance levels doesn't have the fiduciary as they have during the year.
I have set my SL on NZD/USD at @0.6640. That will be my last move on this pair on this year.
Thank you for your message and for joining my small community.
A break above @0.66339 would carry the currency pair up to the next resistance at @0.6792.
However, we should consider that the market is spending its holidays. Banks are closed or on standby but promissory notes are awake, and they could manipulate the market in their advantages, in such confined condition supports and resistance levels doesn't have the fiduciary as they have during the year.
I have set my SL on NZD/USD at @0.6640. That will be my last move on this pair on this year.
Tuesday 17th, December 2019
NZD/USD has been roaming in the @0.6600 in the last business days.
Sell opportunity sustains.
NZD/USD has been roaming in the @0.6600 in the last business days.
Sell opportunity sustains.
Monday, December 16th, 2019
The NZD/USD pair seems to form a substantial peak at @0.6633 as the price action shows a shadow candle on November 12th daily chart. In this scenario, the bull trend was emanated at @0.6205 is no longer lively, and the bears would pull down the value to @0.6455 support. A sharp break below this level indicates the downtrend continues and the next supports could be at @0.6323 and @0.6204.
Trade Tip:
Short at 0.66 | TP1: 0.6455, TP2: 0.6323, TP3:0.625 | SL: 0.6640
***********
It is not wise to waive alternative trajectories.
Noteworthy: A break above @0.6633 resistance could indicate the soar was originated at 0.6205 has not done its mission yet, and the NZDUSD would eye off 0.6792.
To be continued...
The NZD/USD pair seems to form a substantial peak at @0.6633 as the price action shows a shadow candle on November 12th daily chart. In this scenario, the bull trend was emanated at @0.6205 is no longer lively, and the bears would pull down the value to @0.6455 support. A sharp break below this level indicates the downtrend continues and the next supports could be at @0.6323 and @0.6204.
Trade Tip:
Short at 0.66 | TP1: 0.6455, TP2: 0.6323, TP3:0.625 | SL: 0.6640
***********
It is not wise to waive alternative trajectories.
Noteworthy: A break above @0.6633 resistance could indicate the soar was originated at 0.6205 has not done its mission yet, and the NZDUSD would eye off 0.6792.
To be continued...