MG Network

something big isHappening!

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

Popular

Pages

Expert In

Name*


Message*

Technical analysis of NZD/USD for August 28, 2015

NZDUSDM30.png

NZD/USD is expected to trade with bearish bias below the key resistance at 0.6515. The pair remains in consolidation on an intraday basis, and is under pressure below its nearest resistance at 0.6515. The upside potential is likely to be limited by this key level. Besides, the intraday RSI lacks bullish momentum. Therefore, as long as 0.6515 is not surpassed, look for a choppy price action with a bearish bias. Our next downside targets are set at 0.6425 and 0.6365.

Trading recommendations:

The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 0.6425. A break of that target will move the pair further downwards to 0.6365. The pivot point stands at 0.6515. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, long positions are recommended with the first target at 0.6580 and the second target at 0.66.

Resistance levels: 0.6580 0.66 0.6675

Support levels: 0.6425 0.6365 0.63

The material has been provided by InstaForex Company - www.instaforex.com