empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

14.08.201501:18 Forex Analysis & Reviews: Technical analysis of NZD/USD for August 14, 2015

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.

Exchange Rates 14.08.2015 analysis

Overview:

  • The major resistance of the NZD/USD pair has already set at the level of 0.6634. Equally important, the 0.8921 price is coinciding with the ratio of 61.8% Fibonacci retracement levels. Additionally, in light of the previous events, the price has still been trapped between 0.6634 and 0.6467. Moreover, the range will be around 167 pips from today until next week. Besides, it should be noted that if the trend is ascending, then the strength of the currency will be defined as follows: NZD is in an uptrend and USD is in a downtrend. Therefore, it will be wise to sell below the level of 0.6634 with the first target of 0.6503. If the trend can break the first target at 0.6634; then it might resume to 0.6467. Furthermore, it should be noted that the double top will be set at the level of 0.6467. Another thought, stop loss should never exceed your maximum exposure amounts. So, stop loss should be placed above the 0.6682 level.

Observations:

  • The NZD/USD pair will call for a downtrend in order to continue its bearish movement towards 0.6503 in order to test this strong support (it should be noted that the price of 0.6503 is going to form the weekly support 1). The pair will be able to continue towards the double bottom at 0.6467. At the same time, stop loss should be placed at the level of 0.6682.
Mourad El Keddani
Analytical expert of InstaForex
© 2007-2024

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.




You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off