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 Intraday technical levels and trading recommendations for August 24, 2018

analytics5b7ff0e7a7922.png

Breakdown of 0.7220-0.7170 (neckline zone) was needed for a bearish breakout of the depicted consolidation range (0.7170 and 0.7350).

A quick decline took place towards 0.6700-0.6800 where narrow ranged consolidation range was established.

On July 7, evident bullish rejection pushed the NZD/USD pair above 0.6820 temporarily.

However, lack of bullish momentum made the bulls fail to maintain enough bullish momentum above 0.6700.

On August 9, bearish breakout below the depicted consolidation range (0.6700-0.6840) was executed. This allowed the current bearish decline to occur towards 0.6600-0.6570.

The NZD/USD pair outlook turned to be bearish. Bearish targets are projected towards the price levels of 0.6520 and 0.6480.

Recently, early signs of bullish recovery are being manifested around the recent low around 0.6550. This allowed the current bullish pullback to occur.

Conservative traders should wait for deeper bullish pullback towards 0.6750 for a low-risk SELL entry. S/L should be placed above 0.6850.

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