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 02, 2015

NZDUSDM30.png

The NZD/USD pair is expected to trade in a higher range as the bias remains bullish. The pair continued to post strong rebounds, and remains bullish above its rising 50-period moving average. The relative strength index stands firmly above its neutrality level of 50. Furthermore, the process of reaching higher highs and lows remains intact, which indicates that the current trend is still positive. Hence, as long as 0.6615 (our trailing stop loss) is not broken, we should expect a new increase to 0.6690 and 0.6720.

Trading recommendations:

The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. As long as the price holds above its pivot point, long positions are recommended with the first target at 0.6690 and the second target at 0.6720. In the alternative scenario, short positions are recommended with the first target at 0.659040 if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 0.6565. The pivot point is at 0.6615.

Resistance levels: 0.6690 0.6720 0.6760

Support levels: 0.6590 0.6565 0.65

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