NZD/USD: technical analysis
28 January 2019, 10:40
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 0.6885 |
| Take Profit | 0.6970 |
| Stop Loss | 0.6845 |
| Key Levels | 0.6605, 0.6710, 0.6760, 0.6845, 0.6885, 0.6970 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 0.6710 |
| Take Profit | 0.6605 |
| Stop Loss | 0.6760 |
| Key Levels | 0.6605, 0.6710, 0.6760, 0.6845, 0.6885, 0.6970 |
NZD/USD, D1
On the daily chart, the pair is trading just below the upper line of the Bollinger Bands. The price remains above its moving averages that start turning up. The RSI is growing, having broken out its longer MA. The Composite is showing similar dynamics.
NZD/USD, H4
On the 4-hour chart, the pair is correcting from the upper line of the Bollinger Bands. The price remains above its moving averages that start turning up. The RSI is leaving the overbought zone. The Composite is turning down as well, having tested its strong resistance.
Key levels
Support levels: 0.6760 (local lows), 0.6710 (local lows), 0.6605 (local lows).
Resistance levels: 0.6845 (local highs), 0.6885 (November 2018 highs), 0.6970 (December 2018 highs).
Trading tips
There is a chance of a downward correction, after which the growth will continue.
Long positions can be opened from the level of 0.6885 with the target at 0.6970 and stop-loss at 0.6845. Validity – 3-5 days.
Short positions can be opened from the level of 0.6710 with the target at 0.6605 and stop-loss at 0.6760. Validity – 3-5 days.
On the daily chart, the pair is trading just below the upper line of the Bollinger Bands. The price remains above its moving averages that start turning up. The RSI is growing, having broken out its longer MA. The Composite is showing similar dynamics.
NZD/USD, H4
On the 4-hour chart, the pair is correcting from the upper line of the Bollinger Bands. The price remains above its moving averages that start turning up. The RSI is leaving the overbought zone. The Composite is turning down as well, having tested its strong resistance.
Key levels
Support levels: 0.6760 (local lows), 0.6710 (local lows), 0.6605 (local lows).
Resistance levels: 0.6845 (local highs), 0.6885 (November 2018 highs), 0.6970 (December 2018 highs).
Trading tips
There is a chance of a downward correction, after which the growth will continue.
Long positions can be opened from the level of 0.6885 with the target at 0.6970 and stop-loss at 0.6845. Validity – 3-5 days.
Short positions can be opened from the level of 0.6710 with the target at 0.6605 and stop-loss at 0.6760. Validity – 3-5 days.
No comments:
Write comments