NZD/USD: technical analysis
05 December 2018, 10:52
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | BUY |
| Entry Point | 0.6929 |
| Take Profit | 0.6968 |
| Stop Loss | 0.6890 |
| Key Levels | 0.6820, 0.6837, 0.6853, 0.6886, 0.6907, 0.6931, 0.6954, 0.6968 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 0.6880 |
| Take Profit | 0.6820 |
| Stop Loss | 0.6910 |
| Key Levels | 0.6820, 0.6837, 0.6853, 0.6886, 0.6907, 0.6931, 0.6954, 0.6968 |
NZD/USD, D1
On D1 chart, the uptrend is still in effect, the instrument is traded near the upper border of Bollinger Bands. MACD histogram is in the positive area keeping a strong signal for opening buy orders. Stochastic is in the overbought zone, and the signal line of the oscillator is directed up.
NZD/USD, H4
On H4 chart, there is a correction of the upward movement, and the instrument has corrected to the midline of Bollinger Bands. MACD histogram is in the positive area keeping a signal for the opening of long positions. Stochastic is located on the border of the neutral and oversold zones, the oscillator's lines are directed up.
Key levels
Support levels: 0.6907, 0.6886, 0.6853, 0.6837, 0.6820.
Resistance levels: 0.6931, 0.6954, 0.6968.
Trading tips
According to technical indicators, long positions could be opened from the current level with the target at 0.6968 and stop loss at 0.6890.
Short positions may be opened from the level of 0.6880 with the target at 0.6820 and stop loss at 0.6910.
Implementation period: 1-3 days.
On D1 chart, the uptrend is still in effect, the instrument is traded near the upper border of Bollinger Bands. MACD histogram is in the positive area keeping a strong signal for opening buy orders. Stochastic is in the overbought zone, and the signal line of the oscillator is directed up.
NZD/USD, H4
On H4 chart, there is a correction of the upward movement, and the instrument has corrected to the midline of Bollinger Bands. MACD histogram is in the positive area keeping a signal for the opening of long positions. Stochastic is located on the border of the neutral and oversold zones, the oscillator's lines are directed up.
Key levels
Support levels: 0.6907, 0.6886, 0.6853, 0.6837, 0.6820.
Resistance levels: 0.6931, 0.6954, 0.6968.
Trading tips
According to technical indicators, long positions could be opened from the current level with the target at 0.6968 and stop loss at 0.6890.
Short positions may be opened from the level of 0.6880 with the target at 0.6820 and stop loss at 0.6910.
Implementation period: 1-3 days.
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