NZD/USD: technical analysis
19 December 2018, 10:39
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL STOP |
| Entry Point | 0.6840 |
| Take Profit | 0.6785, 0.6695 |
| Stop Loss | 0.6885 |
| Key Levels | 0.6695, 0.6785, 0.6840, 0.6885, 0.6910, 0.7000 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 0.6910 |
| Take Profit | 0.7000 |
| Stop Loss | 0.6885 |
| Key Levels | 0.6695, 0.6785, 0.6840, 0.6885, 0.6910, 0.7000 |
NZD/USD, D1
On the daily chart, the pair is trading in the upper Bollinger band. The price remains slightly above its moving averages that start turning up. The RSI is about to test from below its longer MA. The Composite is showing similar dynamics.
NZD/USD, H4
On the 4-hour chart, the pair is trading in the upper Bollinger band. The price remains above its moving averages that are directed up. The RSI is about to test its most recent resistance. The Composite is approaching its strong resistance as well.
Key levels
Support levels: 0.6840 (local lows), 0.6785 (local lows), 0.6695 (September highs).
Resistance levels: 0.6885 (local highs), 0.6910 (local highs), 0.7000 (local highs).
Trading tips
The price is testing its quite strong resistance near 0.6885. There is a chance of a downward correction, while its breakout would allow the growth to continue.
Short positions can be opened from the level of 0.6840 with targets at 0.6785, 0.6695 and stop-loss at 0.6885. Validity – 3-5 days.
Long positions can be opened from the level of 0.6910 with the target at 0.7000 and stop-loss at 0.6885. Validity – 3-5 days.
On the daily chart, the pair is trading in the upper Bollinger band. The price remains slightly above its moving averages that start turning up. The RSI is about to test from below its longer MA. The Composite is showing similar dynamics.
NZD/USD, H4
On the 4-hour chart, the pair is trading in the upper Bollinger band. The price remains above its moving averages that are directed up. The RSI is about to test its most recent resistance. The Composite is approaching its strong resistance as well.
Key levels
Support levels: 0.6840 (local lows), 0.6785 (local lows), 0.6695 (September highs).
Resistance levels: 0.6885 (local highs), 0.6910 (local highs), 0.7000 (local highs).
Trading tips
The price is testing its quite strong resistance near 0.6885. There is a chance of a downward correction, while its breakout would allow the growth to continue.
Short positions can be opened from the level of 0.6840 with targets at 0.6785, 0.6695 and stop-loss at 0.6885. Validity – 3-5 days.
Long positions can be opened from the level of 0.6910 with the target at 0.7000 and stop-loss at 0.6885. Validity – 3-5 days.
No comments:
Write comments