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 28, 2017

NZDUSDH4.png

Overview:

  • The NZD/USD pair continues to move upwards from the level of 0.7032. Yesterday, the pair rose from the level of 0.7032 to a top around 0.7090. Today, the first resistance level is seen at 0.7100 followed by 0.7160, while daily support 1 is seen at 0.7032 (78.6% Fibonacci retracement). According to the previous events, the NZD/USD pair is still moving between the levels of 0.7050 and 0.7160; so we expect a range of 110 pips. Furthermore, if the trend is able to break out through the first resistance level at 0.7100, we should see the pair climbing towards the double top (0.7160) to test it. Therefore, buy above the level of 0.7062 with the first target at 0.9990 in order to test the daily resistance 1 and further to 0.7100. Also, it might be noted that the level of 0.7160 is a good place to take profit because it will form a new double top on the H4 chart. On the other hand, in case a reversal takes place and the NZD/USD pair breaks through the support level of 0.7032, a further decline to 0.6940 can occur which would indicate a bearish market.
The material has been provided by InstaForex Company - www.instaforex.com