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 16, 2017

NZDUSDH1.png

Overview:

  • As expected, the NZD/USD pair has kept moving downwards from the level of 0.7288. Yesterday, the pair dropped from the level of 0.7288 (this level of 0.7288 coincides with the ratio of 23.6%) to the bottom around 0.7224. Today, the first resistance level is seen at 0.7288 followed by 0.7328, while daily support 1 is seen at 0.7175. According to the previous events, the NZD/USD pair is still moving between the levels of 0.7288 and 0.7175; for that, we expect a range of 113 pips (0.7288 - 0.7175). If the NZD/USD pair fails to break through the resistance level of 0.7288, the market will decline further to 0.7175. This would suggest a bearish market because the RSI indicator is still in a positive area and does not show any trend-reversal signs. The pair is expected to drop lower towards at least 0.7175 with a view to testing the daily support 1. On the contrary, if a breakout takes place at the resistance level of 0.7329, then this scenario may become invalidated.
The material has been provided by InstaForex Company - www.instaforex.com