Long-term review
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Trading recommendations:
- According to the previous events, the NZD/USD pair has still been moving between 0.7508 and 0.7579. Also, it should be noted that the market was not stable since last week.
- In the H4 chart, minor resistance will be formed at the level of 0.7579 (61.8% of Fibonacci retracement levels) providing a clear signal for sell deals with the target at 0.7510.
- Stop-loss is to be placed above 0.7630.
- On the other hand, minor support will be formed at the level of 0.7500 providing a clear signal for buy deals with the targets at 0.7543 and 0.7572 levels.
- Please check out the market volatility before investing, because the sight price may have already been reached and scenarios might have become invalidated.
Observations:
- The level of 0.7543 is representing the weekly pivot point.
- The double top will be set at the level of 0.7630.
- We expect a range of 62 pips today (note that the risk of 42 pips must make a profit of 63 pips).
- Volatility: 274.81. Therefore, the market indicates the higher volatility.
- The value of 38.2% Fibonacci retracement levels is 0.7508 (this levels is confirming for the bullish market).
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