NZD/USD: technical analysis
13 December 2018, 10:40
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL STOP |
| Entry Point | 0.6785 |
| Take Profit | 0.6695 |
| Stop Loss | 0.6820 |
| Key Levels | 0.6695, 0.6785, 0.6820, 0.6915, 0.6960, 0.7050 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 0.6960 |
| Take Profit | 0.7050 |
| Stop Loss | 0.6915 |
| Key Levels | 0.6695, 0.6785, 0.6820, 0.6915, 0.6960, 0.7050 |
NZD/USD, D1
On the daily chart, the pair is trading in the upper Bollinger band. The price remains above its moving averages that start turning up. The RSI is testing its longer MA, having formed a Bearish divergence with the price. The Composite is falling, having broken down its longer MA.
NZD/USD, H4
On the 4-hour chart, the pair is trading on the middle MA of the Bollinger Bands. The price remains above its moving averages that are directed up. The RSI is testing from below its longer MA, having formed a Bullish divergence with the price. The Composite is growing, having bounced off its longer MA.
Key levels
Support levels: 0.6820 (local lows), 0.6785 (local lows), 0.6695 (September highs).
Resistance levels: 0.6915 (local highs), 0.6960 (local highs), 0.7050 (June highs).
Trading tips
The fall is likely to resume after a short-term upward correction.
Short positions can be opened from the level of 0.6785 with the target at 0.6695 and stop-loss at 0.6820. Validity – 3-5 days.
Long positions can be opened from the level of 0.6960 with the target at 0.7050 and stop-loss at 0.6915. Validity – 3-5 days.
On the daily chart, the pair is trading in the upper Bollinger band. The price remains above its moving averages that start turning up. The RSI is testing its longer MA, having formed a Bearish divergence with the price. The Composite is falling, having broken down its longer MA.
NZD/USD, H4
On the 4-hour chart, the pair is trading on the middle MA of the Bollinger Bands. The price remains above its moving averages that are directed up. The RSI is testing from below its longer MA, having formed a Bullish divergence with the price. The Composite is growing, having bounced off its longer MA.
Key levels
Support levels: 0.6820 (local lows), 0.6785 (local lows), 0.6695 (September highs).
Resistance levels: 0.6915 (local highs), 0.6960 (local highs), 0.7050 (June highs).
Trading tips
The fall is likely to resume after a short-term upward correction.
Short positions can be opened from the level of 0.6785 with the target at 0.6695 and stop-loss at 0.6820. Validity – 3-5 days.
Long positions can be opened from the level of 0.6960 with the target at 0.7050 and stop-loss at 0.6915. Validity – 3-5 days.
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