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NZD/USD : Resumption of the bullish trend or bearish reversal?
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#1 ⇑ Haut ⇑ 21-01-2013 09:58:06
- Bruno
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NZD/USD : Resumption of the bullish trend or bearish reversal?
The pair NZD/USD is currently testing the lower limit of its medium term bullish channel (purple lines) at 0.8350. This level is a key level and must be preserved for a resumption of the uptrend background. On the shorter term, a bearish slant appears on the chart (black line) and shows an indecision zone between 0.8350 and 0.8392.
We therefore advise to wait an exit of this range to take position:
- Long above 0.8392. The bearish slant will be broken. We will target a return on 0.8460 and then 0.85 in extension.
- Short below 0.8350. The breakout of this level will mark a channel medium term bullish channel output and a possible trend reversal. The support at 0.83 should then be reached and the next support at 0.8250 in extension.
NZD/USD 1h chart
We therefore advise to wait an exit of this range to take position:
- Long above 0.8392. The bearish slant will be broken. We will target a return on 0.8460 and then 0.85 in extension.
- Short below 0.8350. The breakout of this level will mark a channel medium term bullish channel output and a possible trend reversal. The support at 0.83 should then be reached and the next support at 0.8250 in extension.
NZD/USD 1h chart
NZD/USD 4h chart
#2 ⇑ Haut ⇑ 22-01-2013 10:20:56
- Bruno
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Re: NZD/USD : Resumption of the bullish trend or bearish reversal?
The pair NZD/USD made an output during the night of our range 0.8350/0.8392 from the top, giving us a buy signal. This scenario of a resumption of the uptrend background seems to prevail. The price is still evolving within its large medium term uptrend channel (purple lines). On the short term, the bullish scenario is reinforced by the breaking of the bearish slant (black line).
We recommend to trade only long positions as far as 0.8380 is support. On the short term, a minor resistance is located at 0.8424. The breakout of this level will give a new buy signal and allow the price to reach its last highs towards 0.8461. In extension, 0.85 could be reached.
In case of return below 0.8380, we will be neutral between this level and 0.8350.
NZD/USD 1h chart
We recommend to trade only long positions as far as 0.8380 is support. On the short term, a minor resistance is located at 0.8424. The breakout of this level will give a new buy signal and allow the price to reach its last highs towards 0.8461. In extension, 0.85 could be reached.
In case of return below 0.8380, we will be neutral between this level and 0.8350.
NZD/USD 1h chart
NZD/USD 4h chart
#3 ⇑ Haut ⇑ 25-01-2013 09:49:57
- Bruno
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Re: NZD/USD : Resumption of the bullish trend or bearish reversal?
The New Zeland Dollar has failed to continue its bullish movement against the U.S. dollar. A new correction occurred which resulted in a medium term bullish channel output (purple lines). The price is currently testing as support a short-term bearish slant (black lines).
The price has reinstated our neutral zone between 0.8350 and 0.8380. We advise to wait an exit of this range to take position:
- Long positions in case of return above 0.8380. We can then target a retest of the resistance at 0.8433 in h1 and 0.8461 in extension.
- Short positions in case of breakout of 0.8350 that would indicate a possible trend reversal. The support 83 should then be reached quickly.
NZD/USD 1h chart
The price has reinstated our neutral zone between 0.8350 and 0.8380. We advise to wait an exit of this range to take position:
- Long positions in case of return above 0.8380. We can then target a retest of the resistance at 0.8433 in h1 and 0.8461 in extension.
- Short positions in case of breakout of 0.8350 that would indicate a possible trend reversal. The support 83 should then be reached quickly.
NZD/USD 1h chart
NZD/USD 4h chart
#4 ⇑ Haut ⇑ 29-01-2013 09:36:36
- Bruno
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Re: NZD/USD : Resumption of the bullish trend or bearish reversal?
Earlier this week, the New Zeland Dollar slumped sharply against the U.S. dollar before the retracement of all its bearish movement during the night. A V-Bottom pattern is formed and suggests a continuation of the bullish movement. The price is back above its short-term bearish slant (black line) and is testing the resistance at 0.8380.
We recommend to trade only long positions as far as the major support at 0.8350 acts. The upward break of 0.8380 will give a new buy signal and finally validate the scenario of a resumption of the uptrend. The price will then move towards 0.8411 and the resistance at 0.8433 in extension.
In case of return below 0.8350, a sell signal will be given. A new test of the support at 0.83 will expected.
NZD/USD 1h chart
We recommend to trade only long positions as far as the major support at 0.8350 acts. The upward break of 0.8380 will give a new buy signal and finally validate the scenario of a resumption of the uptrend. The price will then move towards 0.8411 and the resistance at 0.8433 in extension.
In case of return below 0.8350, a sell signal will be given. A new test of the support at 0.83 will expected.
NZD/USD 1h chart
NZD/USD 4h chart
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NZD/USD : Resumption of the bullish trend or bearish reversal?
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