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*

NZD/USD fundamental analysis for February 16, 2017

NZD is having some strength issues against continuing bullish volatile trend against USD. Yesterday, NZD has pushed upwards from 0.7150 to 0.7230 with a non-volatile intraday move and still it is struggling to break the 0.7230-50 resistance area. Today, USD is having some major events like Building permits which is forecasted 1.23M than previous 1.21M; Philly FED Manufacturing Index which is forecasted a decrease to 18.5 from 23.6; and Unemployment Claims report which is expected to increase from 234K to 243K. On the other hand, NZD has major event of Retail Sales report tomorrow morning which is expected to rise to 1.1% from 0.9% and Core Retail Sales expected to be 0.9% which previously was 0.3%. Overall, there will be a good amount of volatility in this pair as both currencies will be having high-impact events within next 12 hours. In contrast to context, USD is expected to show some strength over NZD in fundamental and technical aspects.

Now let us look at the technical view, the price has rejected from 0.7250 since the morning and the price action has already shown some evidence of bearish pressure in this pair. Currently, the price is below 0.7230 level and expected to progress much lower if the price's daily close remains below the 0.7230-50 level. As of the high-impact events today, a good amount of volatility is expected to hit the pair and if the price remains bearish, it is expected that the price will move to a much lower ground towards 0.6950. On the other hand, if the price closes above 0.7250 in daily chart, we will be expecting a higher move towards 0.7500-50 area in the coming trading days. So, the daily close of today's candle is very crucial for this pair to predict the upcoming moves of this instrument.

analytics58a5a53162e0b.jpg

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