09.11.201108:40 Forex Analysis & Reviews: NZD/USD Intraday Technical Analysis for November 9th, 2011.

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Daily fixation below 1.3850 gathered significant bearish pressure enough to breakdown the lower limit of the daily bullish channel.

This week, there has been a minor Intraday Demand level expressed at 1.3750 of the recent slide from 1.3965.

Four-hour candlestick fixation above 1.3790 signals a temporary bottom that will target at 1.3850.

Price level 1.3850-1.3870 remains a significant supply zone (neckline of the 4H reversal pattern). It provided a valid SELL entry at retesting as expected. Stop loss should be located above 1.3870

On the other hand, failure to fixate above 1.3790 will expose the recent low 1.3748.

A slide below which opens the way towards lower lows located at 1.3700 and 1.3660.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.