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 February 06, 2018

NZDUSDH4.png

Overview:

  • The NZD/USD pair is rising from the level of 0.7305 in the long term. It should be noted that the support is established at the level of 0.7305 which represents the daily pivot point on the H4 chart. The price is likely to form a double bottom in the same time frame.
  • The NZD/USD pair is showing signs of strength following a breakout of the highest level of 0.7305. So, buy above the level of 0.7305 with the first target at 0.7364 in order to test the daily resistance 1. Moreover, the RSI is still signaling that the trend is upward as it remains strong above the moving average (100).
  • This suggests that the pair will probably go up in the coming hours. If the trend is able to break the level of 0.7364, then the market will call for a strong bullish market towards the target of 0.7437. The level of 1.4250 is a good place to take profits today.
  • On the other hand, in case a reversal takes place and the NZD/USD pair breaks through the level of 0.7305 (pivot point), a further decline to 0.7202 can occur. It would indicate a bearish market.
The material has been provided by InstaForex Company - www.instaforex.com