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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 USD/CAD and EUR/CAD moved higher on CAD (Canadian Dollar) weakness. The USD/CAD moved nearly 150 pips today and 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 USD/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 EUR/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 trading 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 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 and MN time frames. This MN time frame 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 1.2850 on this pair, noted by the yellow line. When the alert hits check The Forex Heatmap® forex heatmap for a confirmation buy signal.
Since the MN time frame uptrend is still at the early stages, the upside potential is up to the 1.3640 resistance, or possibly 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, which is one of the best times to trade the forex market. The W1 time frame is also presented, which magnifies the W1 trend so you can see the breakout points and targets much better.
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.
Today in forex trading the JPY weakness caused strong movements on many pairs. The GBP/JPY had a buy signal on The Forex Heatmap®, along with several other JPY pairs showing great quality trading signals. The British Pound to JPY exchange rate moved nearly 150 pips. The other JPY pairs also moved much higher, and the total pip movement of all JPY pairs was impressive.
Based on today’s strong movements on the JPY pairs, along with D1 uptrends in place, we expect all of the JPY pairs to continue higher. The real time forex signals from The Forex Heatmap® are shown below along with some of today’s GBP/JPY price chart movement. The GBP/JPY should continue higher to the 159.00 resistance area, and the other JPY pairs have significant upside on the larger time frames. The Forex Heatmap® provides live buy and sell signals for 28 currency pairs, it is an easy to read tool for guiding all of your forex trade entries. We send push alerts to your cellphone and desktop when the market is moving on 8 different currencies.
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 or cluster for a long time and is now breaking our the 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.
The CAD/CHF trend analysis is presented here. This pair is trying to form a new down trend on the D1 time frame. Traders can set an audible price alert at 0.7365 for a potential sell on this pair (see the yellow line on the chart).
When the alert hits check The Forex Heatmap® for a trade entry verification signal with consistent CAD weakness or CHF strength or both. Since the trend is forming and new on a larger time frame, the overall pip potential is strong as there is no nearby support levels below the alert price. These simple trend indicators for market analysis are 5/12 exponential moving averages that can be applied to multiple time frames. Traders can use these trend indicators for the CAD/CHF or any other currency pair, we trade 28 currency pairs at Forexearlywarning.