The NZDUSD faces bearish pressure as it hits dynamic resistance. The inside bar price Action Setup is a sign of indecision but because of the previous bearish trend on this pair, traders could push prices lower in the coming days. Support is seen at 0.8160
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Showing posts with label AUDUSD/NZDUSD. Show all posts
Showing posts with label AUDUSD/NZDUSD. Show all posts
Tuesday, March 19, 2013
AUDUSD/NZDUSD Price Action: Inside Bar Trade Setup 20/03/2013
AUDUSD (above) closed the day with an inside bar after price had broken through Resistance at about 1.0366. This is an indication of indecision in the market. Given this setup, we could see a minor pull back into support at about 1.0273 where new buy entries could be made pending price action.
Thursday, March 7, 2013
AUDUSD/NZDUSD Price Action: Pin Bar Trade set up 07/03/2013
Both currency pairs closed the day with very significant bullish rejections forming pin bars, as they attempted to break above previous resistance zones cutting short the bullish pullback. This is no surprise as I've been consistent with this pair and pointed this out in yesterday's trade commentary.
My recommendation: Stay short with targets about the near term supports as indicated on the charts
Tuesday, March 5, 2013
AUDUSD/NZDUSD: Closing Price Reversal and Pin Bar Trade Setups pulls off. 06/03/2013
The Pin Bar and Closing Price Reversal trade setup noticed and discussed in yesterdays commentary have both pulled higher at the close of trading today. While NZDUSD has hit resistance, AUDUSD seems to still have room for some more upside movement.
My recommendation: Wait for reaction at resistance
Monday, March 4, 2013
NSDUSD/AUDUSD: Closing Price Reversal/Pin Bar Trade setups 05/03/2013
Both pairs found significant supports by the close of the trading day but the long term bias on the pairs still remain bearish. NZDUSD ended the day with a closing price reversal setup while AUDUSD closed as a pin bar. Each reacting at significant horizontal supports. If these setups eventually push the pairs higher, we would be looking to get back in on the bears pending price action at their respective resistance zones as indicated in the charts above.
My recommendation: Buy at pull back at about 50% retracement on each pair.
Saturday, March 2, 2013
AUDUSD/NZDUSD: Further bearish pressure 04/03/2013
There is still considerable bearish pressure on both pairs. At the close of trading on friday (01/03/2013) we saw a 50% pull-back on both pairs from the pin bars of Thursday's trading. Further bearishness is expected on both pairs.
My recommendation: stay bearish till about 1.0173 on (AUDUSD) and 0.8166 (NZDUSD)
Tuesday, February 26, 2013
Bearish pressure on AUDUSD and NZDUSD
On Thursday February 21st, I posted in my daily commentary, expectations for the AUDUSD and NZDUSD. I pointed out that it was necessary to stay with the emerging bearish trend for both pairs. AUDUSD has failed consistently to pierce through the new resistance, while NZDUSD has failed to break above the moving average as noted in the previous commentary of the 21st. Supports for these pairs are found 1.0160 and 0.8210 for AUDUSD and NZDUSD respectively
Friday, February 22, 2013
AUDUSD NZDUSD Daily Price Action Commentary
AUDUSD Daily Chart |
AUDUSD closed the day with a nice pin bar. The interim trend on the pair is bearish, we will therefore stick with that trend and wait for a possible price action setup around resistance (as indicated above) to go short on this pair.
NZDUSD Daily Chart |
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