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.
Overview:
- Due to the previous events, the price of NZD/USD pair is still between the levels of 0.6949 and 0.6814.
- In the short term, the resistance will be formed at the level of 0.6950 providing a clear signal for sell deals with a target at 0.6814 in order to to test the double bottom.
- The support is likely to be found at the level of 0.6800 providing a clear signal for buy deals with a target at 0.8682. The level of 0.6898 is coinciding with a ratio of 23.6%. If the market manages to break the first minor resistance at 0.6898, it will continue towards the second target at 0.6950.
Notes:
- A daily pivot point will set at the level of 0.6898.
- We expect a range of 79 pips. Hence, the risk of 79 pips must make a profit of 118 pips.
- The key level is seen at 0.6950 today.
- The double bottom will be formed at 0.6814.
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.