NZD/USD: technical analysis
18 January 2019, 10:26
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 0.6769 |
| Take Profit | 0.6725, 0.6690, 0.6665 |
| Stop Loss | 0.6790 |
| Key Levels | 0.6665, 0.6690, 0.6725, 0.6840, 0.6880, 0.6965 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 0.6880 |
| Take Profit | 0.6965 |
| Stop Loss | 0.6840 |
| Key Levels | 0.6665, 0.6690, 0.6725, 0.6840, 0.6880, 0.6965 |
NZD/USD, D1
On the daily chart, the pair is trading in the upper Bollinger band. The price remains on the level with its moving averages that are turning horizontally. The RSI is falling, having broken down its longer MA. The Composite is showing similar dynamics.
NZD/USD, H4
On the 4-hour chart, the pair is trading in the lower Bollinger band. The price remains just below its moving averages that are horizontal. The RSI is about to test from below its longer MA. The Composite is growing, having broken out its longer MA.
Key levels
Support levels: 0.6725 (local lows), 0.6690 (July 2018 lows), 0.6665 (local lows).
Resistance levels: 0.6840 (local highs), 0.6880 (November 2018 highs), 0.6965 (December 2018 highs).
Trading tips
The fall can resume after a short-term upward correction.
Short positons can be opened from current prices with targets at 0.6725, 0.6690, 0.6665 and stop-loss at 0.6790. Validity – 3-5 days.
Long positions can be opened from the level of 0.6880 with the target at 0.6965 and stop-loss at 0.6840. Validity – 3-5 days.
On the daily chart, the pair is trading in the upper Bollinger band. The price remains on the level with its moving averages that are turning horizontally. The RSI is falling, having broken down its longer MA. The Composite is showing similar dynamics.
NZD/USD, H4
On the 4-hour chart, the pair is trading in the lower Bollinger band. The price remains just below its moving averages that are horizontal. The RSI is about to test from below its longer MA. The Composite is growing, having broken out its longer MA.
Key levels
Support levels: 0.6725 (local lows), 0.6690 (July 2018 lows), 0.6665 (local lows).
Resistance levels: 0.6840 (local highs), 0.6880 (November 2018 highs), 0.6965 (December 2018 highs).
Trading tips
The fall can resume after a short-term upward correction.
Short positons can be opened from current prices with targets at 0.6725, 0.6690, 0.6665 and stop-loss at 0.6790. Validity – 3-5 days.
Long positions can be opened from the level of 0.6880 with the target at 0.6965 and stop-loss at 0.6840. Validity – 3-5 days.
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