{"id":55676,"date":"2014-08-08T09:02:32","date_gmt":"2014-08-08T13:02:32","guid":{"rendered":"http:\/\/countingpips.com\/?p=55676"},"modified":"2014-08-08T09:06:00","modified_gmt":"2014-08-08T13:06:00","slug":"nzdusd-stays-afloat-above-200-day-sma","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/08\/nzdusd-stays-afloat-above-200-day-sma\/","title":{"rendered":"NZD\/USD Stays Afloat Above 200-Day SMA"},"content":{"rendered":"<div id=\"inves-2973820265\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">August 8, 2014<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Technical Sentiment: <span style=\"color: #339966;\"><strong>Bullish<\/strong><\/span><\/p>\n<p><strong>Key Takeaways<\/strong><\/p>\n<ul>\n<li>Increased risk overnight risk aversion sees short positions close ahead of the weekend;<\/li>\n<li>NZD\/USD fails for the second time to hold below the 200-Day Simple Moving Average;<\/li>\n<li>Price action suggests a 2<sup>nd<\/sup> bullish Pin bar is forming today.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">Traders are disregarding that the US Dollar still maintains a bullish bias. Increased overnight risk aversion saw the NZD\/USD bounce for the second time after a fake spike through the 200-Day Simple Moving Average.<\/p>\n<p><strong>Technical Analysis<\/strong><\/p>\n<p><a href=\"http:\/\/capitaltrustmarkets.com\/wp-content\/uploads\/2014\/08\/NZDUSD-8th-August.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-5501\" src=\"http:\/\/capitaltrustmarkets.com\/wp-content\/uploads\/2014\/08\/NZDUSD-8th-August.png\" alt=\"NZDUSD 8th August\" width=\"700\" height=\"346\" \/><\/a><\/p>\n<p style=\"text-align: justify;\">If NZD\/USD intends to break the losing streak and correct higher for a change, then it has probably arrived at the perfect location to do so. We can now easily identify several signs of weakness within the bearish swing, increasing the odds of a temporary price bottom followed which will be followed by a decent rally.<\/p>\n<p style=\"text-align: justify;\">On Wednesday, the first attempt to cross below 0.8460 (support from last week strengthened by the 200-Day Simple Moving Average) somehow managed to end as a bullish Pin bar. This pattern was successfully activated on Thursday, yet there was zero follow through. Today\u2019s price action is creating a d\u00e9j\u00e0-vu moment: NZD\/USD is likely to form a 2<sup>nd<\/sup> bullish Pin bar, reinstating the bullish tone. Stochastic is trying to escape oversold territory on the Daily time frame, further confirming the scenario of a temporary bottom in this area.<\/p><div id=\"inves-3644855378\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<p style=\"text-align: justify;\">A daily close above 0.8460 signals a strong possibility for bullish action starting early next week. This scenario requires a second confirmation: a rally above 0.8494, in order to invalidate the intraday configuration of Lower Highs. 0.8516-0.8530 is the immediate resistance target. Above this zone, bullish potential extends as high as 0.8620-0.8650 (50-Day SMA, 100-Day SMA, 50% Fibonacci retracement and previous support area).<\/p>\n<p style=\"text-align: justify;\">Failure to close above 0.8460 will mean more losses are in store for NZD\/USD. Below 0.8431 sellers will target 0.8400 and raise the possibility of a deeper decline toward the 0.8240 area, putting the pair in extreme bearish mode.<\/p>\n<p>*********<br \/>\nPrepared by Alex Z., Chief Currency Strategist at <a href=\"http:\/\/www.capitaltrustmarkets.com\/\">Capital Trust Markets<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Technical Sentiment: Bullish Key Takeaways Increased risk overnight risk aversion sees short positions close ahead of the weekend; NZD\/USD fails for the second time to hold below the 200-Day Simple Moving Average; Price action suggests a 2nd bullish Pin bar is forming today. Traders are disregarding that the US Dollar still maintains a bullish bias. [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-55676","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/55676","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=55676"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/55676\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=55676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=55676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=55676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}