NZD/USD: technical analysis
15 January 2019, 10:12
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL STOP |
| Entry Point | 0.6805 |
| Take Profit | 0.6765, 0.6720 |
| Stop Loss | 0.6830 |
| Key Levels | 0.6720, 0.6765, 0.6805, 0.6850, 0.6885, 0.6965 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 0.6885 |
| Take Profit | 0.6965 |
| Stop Loss | 0.6850 |
| Key Levels | 0.6720, 0.6765, 0.6805, 0.6850, 0.6885, 0.6965 |
NZD/USD, D1
On the daily chart, the pair is trading in the upper Bollinger band. The price remains just above its moving averages that are turning horizontally. The RSI is growing, having broken out its longer MA. The Composite is approaching its strong resistance.
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 start turning up. The RSI begins forming a Bearish divergence with the price. The Composite is showing similar dynamics.
Key levels
Support levels: 0.6805 (local lows), 0.6765 (local lows), 0.6720 (local lows).
Resistance levels: 0.6850 (local highs), 0.6885 (November 2018 highs), 0.6965 (December 2018 highs).
Trading tips
There is a chance of a downward correction.
Short positions can be opened from the level of 0.6805 with targets at 0.6765, 0.6720 and stop-loss at 0.6830. Validity – 3-5 days.
Long positions can be opened from the level of 0.6885 with the target at 0.6965 and stop-loss at 0.6850. Validity – 3-5 days.
On the daily chart, the pair is trading in the upper Bollinger band. The price remains just above its moving averages that are turning horizontally. The RSI is growing, having broken out its longer MA. The Composite is approaching its strong resistance.
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 start turning up. The RSI begins forming a Bearish divergence with the price. The Composite is showing similar dynamics.
Key levels
Support levels: 0.6805 (local lows), 0.6765 (local lows), 0.6720 (local lows).
Resistance levels: 0.6850 (local highs), 0.6885 (November 2018 highs), 0.6965 (December 2018 highs).
Trading tips
There is a chance of a downward correction.
Short positions can be opened from the level of 0.6805 with targets at 0.6765, 0.6720 and stop-loss at 0.6830. Validity – 3-5 days.
Long positions can be opened from the level of 0.6885 with the target at 0.6965 and stop-loss at 0.6850. Validity – 3-5 days.
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