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 December 20, 2016

NZDUSDDaily.png

Overview:

  • The NZD/USD pair continued to move downwards from the level of 0.6983 to the bottom around 0.6914. The NZD/USD pair opened below the daily pivot point (0.6920). Today, the first resistance level is seen at 0.6983 followed by 0.7030, while daily support 1 is seen at 0.6865. Furthermore, the moving average (100) starts signaling a downward trend; therefore, the market is indicating a bearish opportunity below 0.6920. So it will be good to sell at 0.6920 with the first target of 0.6865. It will also call for a downtrend in order to continue towards 0.6814. According to the previous events, we expect the NZD/USD pair to trade between 0.6920 and 0.6814 in coming hours. Generally, the price area of 0.6983 remains a significant resistance zone. Thus, the trend is still bearish as long as the level of 0.6983 is not broken. On the contrary, in case a reversal takes place and the NZD/USD pair breaks through the resistance level of 0.6983, then a stop loss should be placed at 0.6703.
The material has been provided by InstaForex Company - www.instaforex.com