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The EUR/NZD is in a strong downtrend on the major time frames like the W1 and MN time frames. When analyzing all of the NZD pairs, the NZD is currently strong on all pairs. Traders can set an audible price alert for a sell at 1.5030, this price is noted on the chart below. The next major support is at the 1.4250 area or lower, also noted on the charts. We also have other sell plans based on NZD strength in our daily trading plans.
To perform the analysis of the EUR/NZD we used multiple time frame analysis by individual currency, which is very powerful and revealing. The analysis revealed that the EUR/NZD was in a strong down trend based mostly on the consistent NZD strength in the market. Currently, the EUR pairs are somewhat neutral or choppy. If any EUR weakness comes into the market, perhaps after tomorrow’s EUR news drivers on the economic calendar, we expect a strong sell off on this pair. The Forex Heatmap® and live heatmap alert system will keep us apprised of any EUR weakness in the market in real time.
The EUR/NZD is a great pair for trading. This pair fairly high volatility and can be traded in both trading sessions, the Asian trading session and the main trading session. It can be traded after NZD news on the forex news calendar in the Asian session. Trading 28 pairs with trend indicators and great tools like The Forex Heatmap® forex heatmap is far superior to scalping the EUR/USD over and over with unreliable technical indicators.
Today in forex trading the GBP/CAD and NZD/CAD moved higher on CAD (Canadian Dollar) weakness. The GBP/CAD should continue higher on the H4 and possibly D1 time frames, but the major trend on this pair is down on the MN time frame. The GBP/CAD still has upside potential to move higher going forward for 1 or 2 two days. Sometimes currency pairs move higher on the H4 or D1 time frame even though they are in long term downtrends, so traders must scale out lots and manage the trade with stop orders to preserve any profitable trades against the major trends.
The NZD/CAD also moved higher on the CAD weakness, but this pair is inside of various levels of resistance, for that reason we would scale out lots or exit this trade. The forex signals for the CAD pairs are shown below from The Forex Heatmap®, along with the price chart movement. The heatmap provides accurate trading signals for 28 currency pairs that are better than any free forex signals or paid signals used by traders now. These signals can be used for day trading or entering new or existing trends on the higher time frames.
The NZD/USD is in an uptrend on the larger time frames. The W1 time frame is shown below in the image. Current resistance and price alert point is at 0.7305, annoteted on the chart below. Forex traders should set an audible price alert at this price on their trading platform or metatrader to help to intercept the movement.
Then when the audible price alert hits you can verify any buy trades with The Forex Heatmap®, our real time visual map of the forex market. You would check the heatmap for NZD strength, or USD weakness, or both for trade entry verification. The next resistance level is at the 0.7500 – 0.7700 level as noted on the chart on the left. This is 200 to 400 pips of upside potential as the USD weakness is prevalent in the market now.
The EUR/AUD trend analysis is below. This pair is forming a new uptrend on the D1 time frame. Traders can set a buy alarm at the 1.4775 level. The upside potential on this new trend is as high as the 1.5500 resistance level, so entering this trend has excellent upside potential. When the price alert hits check The Forex Heatmap® forex heatmap for trade entry verification signals. The trend charts you see for the EUR/AUD are exponential moving averages which are easy to set up. These trend indicators can be used to follow the major trends of the forex market and our trend based trading plans. The chart pattern on this pair looks like a double bottom, which is a reversal pattern off of support, click on the link to learn more about this forex reversal pattern along with other forex trading patterns.
The NZD/CHF is trending higher on the W1 time frame. Traders can set a an audible buy alert at the 0.6985 resistance area, which is noted on the chart by the yellow line. This is the next resistance breakout point.
When the price alert hits price check The Forex Heatmap® for a confirmation buy signal. The NZD/CHF has great upside pip potential past the alert price up to the 0.7400 area resistance level, noted on the trend chart below. So the overall pip potential is about 400 pips, which means that the risk/reward ratio and money management ratio for this trade is excellent. We conduct all of our trend analysis using multiple time frames of trends. We isolate each currency like the NZD and CHF plus six other currencies and analyze them separately to develop trend based trading plans for 28 pairs..
Here is our current trading plan for the NZD/USD pair. The NZD was strong in the Asian session today so after this pair consolidates, we will set an audible price alert for a buy at the near term resistance, just past 0.7130. See the W1 time frame chart below. When the price alert hits check The Forex Heatmap® forex heatmap for a confirmation buy signal.
The W1 time frame uptrend shown below indicates that the current pricing is around 0.7120, overall pip potential is up to the next major resistance at 0.7550, shown on the chart. This is about 400 pips of upside potential, so the money management ratio is excellent on this trading plan since we are using the higher time frames. So the forex money management strategies like risk reward ratio is always going to be favorable when using the higher time frames. We suspect we will be issuing several trading plans based on NZD strength for the other NZD pairs we follow tomorrow in our daily trading plans.
The GBP/USD trend analysis is presented below. This is the chart of the GBP/USD on the W1 time frame. This trend is still new and at the beginning of the cycle and has plenty of upside potential. Traders should set an audible buy alert at 1.4725 on this pair. When the alert hits check The Forex Heatmap® forex heatmap for a confirmation buy signal.
SInce the W1 time frame uptrend is still at the early stages, the upside potential is up to the 1.5150 resistance, or possibly much higher. The GBP is strong on all pairs right now based on an analysis if the trends by individual currency. Also, there are GBP (British Pound) and USD (US Dollar) news drivers tomorrow morning in the main session, so this trend could continue building tomorrow in the main forex trading session. These trade charts are easy to set up for all 28 pairs and the chart analysis techniques are available at Forexearlywarning.com for any trader.
The USD/CAD trading plan for the current market condition is as follows. This pair is currently trendin down on the H4 time frame and the D1 time frame trend could follow. Traders can set an audible price alert at 1.2830 on this pair. Wen the price alert goes off look for a sell signal on this pair in the main session on The Forex Heatmap® forex heatmap. This pair has very good poential to drop down to the 1.2550 support area, which is noted by the yellow line. So this is 280 pips of potential, excellent risk/reward ratio
This trading plans was prepared using multiple time frame analysis by individual currency, and we are detecting some CAD (Canadian Dollar) strength in the market now to drive the movement. We use this method to analyze 28 pairs for ou daily forex trading plans at Forexearlywarning.com.
Using these simple trend indicators for the AUD/USD, we will illustrate how to find trending pairs on the larger time frames. The AUD/USD is trending up on the W1 time frame, which is shown below in the image. The current resistance and price alert point is 0.7820, noted by the yellow line on the right. Traders should set an audible price alert here.
When the alert hits check The Forex Heatmap® forex heatmap for confirmation buy signal. The next resistance area is 0.8025, just over 200 pips away. So the money management ratio for this trade is excellent. If the MN time frame uptrend forms the potential is much higher. The trend indicators you see are exponential moving averages, which we use to analyze 8 currencies and 28 currency pairs for our daily trend analysis and preparation of our trading plans. Set them up using 5 and 12 time periods and color them green and red, respectively.
The NZD/USD is breaking out of the short term resistance levels and starting to trend higher on the W1 time frame. Traders should set an audible price alert at 0.6945 to intercept the next movement. When the price alert hits check The Forex Heatmap® for a confirmation buy signal.
Check the chart below. The NZD/USD has been in a consolidation zone for a long time avd is now breaking our of consolidation/cluster area. This is a long term consolidation chart pattern You can see that past the alert price point (yellow line) that the next major resistance is at the 0.7600 area. This resistance level is 650 pips of upside potential. We use current trends and support and resistance levels to help us build all of our forex trading plans for 28 pairs across 8 different currencies.