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 16, 2016

NZDUSDM30.png

NZD/USD is under pressure. The pair has been capped by its descending 20-period and 50-period moving averages, and is looking for a lower bottom. Meanwhile, the relative strength index stays below 50 and lacks upward momentum. Hence, as long as 0.7055 holds as the key resistance, the risk of a break below 0.7010 remains high.

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 0.7010. A break below this target will move the pair further downwards to 0.6980. The pivot point stands at 0.7055. In case the price moves in the opposite direction and bounces back from the support level, it will go 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 0.7080 and the second one at 0.7105.

Resistance levels: 0.7080, 0.7105, 0.7150

Support levels: 0.7010, 0.6980, 0.6950

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