NZD/USD - 1H - Technical analysis published on 10/08/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
83%
6%
11%
My opinion
Bullish above 0.5974 USD
My targets
0.6008 USD (+0.0018)
0.6049 USD (+0.0059)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on NZD/USD as long as the price remains well above 0.5974 USD. The buyers' bullish objective is set at 0.6008 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 0.6049 USD. If there is any crossing, the next objective would be the resistance located at 0.6107 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
8.6
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This analysis was given by lapteve. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
NZD/USD rating 0.5990 USD. On the day, this instrument gained +0.40% with the lowest point at 0.5923 USD and the highest point at 0.6004 USD. The deviation from the price is +1.13% for the low point and -0.23% for the high point.0.5923
0.6004
0.5990
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by NZD/USD:
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of NZD/USD in 1H shows a strongly overall bullish trend. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
Technical indicators are strongly bullish, suggesting that the price increase should continue.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 0.5899 | 0.5923 | 0.5974 | 0.5990 | 0.6008 | 0.6049 | 0.6107 |
| Change (%) | -1.52% | -1.12% | -0.27% | - | +0.30% | +0.98% | +1.95% |
| Change | -0.0091 | -0.0067 | -0.0016 | - | +0.0018 | +0.0059 | +0.0117 |
| Level | Minor | Intermediate | Major | - | Minor | Intermediate | Intermediate |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.5860 | 0.5891 | 0.5941 | 0.5972 | 0.6022 | 0.6053 | 0.6103 |
| Camarilla | 0.5968 | 0.5975 | 0.5983 | 0.5990 | 0.5997 | 0.6005 | 0.6012 |
| Woodie | 0.5869 | 0.5896 | 0.5950 | 0.5977 | 0.6031 | 0.6058 | 0.6112 |
| Fibonacci | 0.5891 | 0.5922 | 0.5941 | 0.5972 | 0.6003 | 0.6022 | 0.6053 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.5764 | 0.5817 | 0.5904 | 0.5957 | 0.6044 | 0.6097 | 0.6184 |
| Camarilla | 0.5952 | 0.5964 | 0.5977 | 0.5990 | 0.6003 | 0.6016 | 0.6029 |
| Woodie | 0.5780 | 0.5826 | 0.5920 | 0.5966 | 0.6060 | 0.6106 | 0.6200 |
| Fibonacci | 0.5817 | 0.5871 | 0.5904 | 0.5957 | 0.6011 | 0.6044 | 0.6097 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.5698 | 0.5778 | 0.5888 | 0.5968 | 0.6078 | 0.6158 | 0.6268 |
| Camarilla | 0.5945 | 0.5962 | 0.5980 | 0.5997 | 0.6014 | 0.6032 | 0.6049 |
| Woodie | 0.5712 | 0.5786 | 0.5902 | 0.5976 | 0.6092 | 0.6166 | 0.6282 |
| Fibonacci | 0.5778 | 0.5851 | 0.5896 | 0.5968 | 0.6041 | 0.6086 | 0.6158 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 60.62 | |
| MACD (12,26,9): | 0.0011 | |
| Directional Movement: | 9.6173 | |
| AROON (14): | 42.8572 | |
| DEMA (21): | 0.5985 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.5934 | |
| Elder Ray (13): | 0.0015 | |
| Super Trend (3,10): | 0.5948 | |
| Zig ZAG (10): | 0.5990 | |
| VORTEX (21): | 1.0784 | |
| Stochastique (14,3,5): | 88.89 | |
| TEMA (21): | 0.5988 | |
| Williams %R (14): | -17.28 | |
| Chande Momentum Oscillator (20): | 0.0028 | |
| Repulse (5,40,3): | -0.0094 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0177 | |
| Courbe Coppock: | 0.80 |
| MA7: | 0.5955 | |
| MA20: | 0.5937 | |
| MA50: | 0.5963 | |
| MA100: | 0.6066 | |
| MAexp7: | 0.5985 | |
| MAexp20: | 0.5971 | |
| MAexp50: | 0.5956 | |
| MAexp100: | 0.5949 | |
| Price / MA7: | +0.59% | |
| Price / MA20: | +0.89% | |
| Price / MA50: | +0.45% | |
| Price / MA100: | -1.25% | |
| Price / MAexp7: | +0.08% | |
| Price / MAexp20: | +0.32% | |
| Price / MAexp50: | +0.57% | |
| Price / MAexp100: | +0.69% |
Quotes :
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Real time data
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Forex
News
The last news published on NZD/USD at the time of the generation of this analysis was as follows:
-
Technical Analysis: 13/09/2023 - NZDUSD gets rejected, but bulls might try again
-
Technical Analysis: 06/09/2023 - NZDUSD extends retreat to fresh 2023 low
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Technical Analysis: 09/08/2023 – NZDUSD bearish breakout might have run its course
-
Technical Analysis: 26/07/2023 - NZDUSD at range midpoint but bullish pressure rising
-
Technical Analysis: 20/07/2023 - NZDUSD defends summer uptrend
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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