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 14, 2014

NZDUSDM30.png


Overview:


NZD/USD is expected to trade with a bullish bias. NZD sentiment is boosted by the stronger-than-expected 1.2% increase in New Zealand 2Q retail sales versus forecast +1.0%). NZD/USD is also supported by the Kiwi demand on buoyant NZD/JPY cross amid reduced risk aversion and NZD-USD interest differential. But NZD/USD gains are tempered by the broadly firmer USD undertone, Kiwi sales on buoyant AUD/NZD cross, weak dairy prices, reduced expectations of further rate hikes from the Reserve Bank of New Zealand this year and official stance against strong Kiwi exchange rate. The daily chart is mixed as MACD is bearish, but stochastics is turned bullish in the oversold zone.


Trading recommendations:
The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As long as the price is keeping above its pivot point, a long position is recommended with the first target at 0.8530 and the second target at 0.8560. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.8415. A break of this target would push the pair further downwards and one may expect the second target at 0.8395. The pivot point is at 0.8460.


Resistance levels:

0.8530

0.8560

0.8595


Support levels:

0.8415

0.8395

0.8375


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



from www.instaforex.com http://ift.tt/Vn8Sl5

via IFTTT