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 October 20, 2015

NZDUSDM30.png

NZD/USD is choppy. The pair remains in consolidation in the range 0.6840 to 0.670. The intraday volatility decreased sharply, as the Bollinger Bands are tightening, which also indicates that a breakout may occur in the near future. Furthermore, the intraday RSI is mixed to bearish below its neutrality area at 50. Hence, as long as 0.6840 is not surpassed, look for a choppy price action with a bearish bias. A break below 0.670 would trigger a bearish acceleration towards 0.6650.

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 0.67. A breakout of that target will move the pair further downwards to 0.6650. The pivot point stands at 0.6850. 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 0.69 and the second target at 0.6925.

Resistance levels: 0.69 0.6925 0.6965 Support levels: 0.67 0.6650 0.6600

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