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 March 21, 2016

NZDUSDM30.png

NZD/USD is expected to trade in a bearish bias. The pair is in consolidation now after the recent rallies. The relative strength index is mixed, calling for caution. In the coming trading hours, the pair is likely to test its nearest resistance at 0.6830, which is expected to hold on the upside, and allow for a temporary stabilisation. To sum up, the immediate trend is mixed, and calls for caution. Below 0.6830, look for a new low to 0.6705 and 0.66660 after a limited consolidation.

Trading recommendations:

The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 0.6705. A break of this target will move the pair further downwards to 0.6660. The pivot point stands at 0.6830. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, long positions are recommended with the first target at 0.6880 and the second target at 0.6925.

Resistance levels: 0.6880, 0.6925, 0.6975

Support levels: 0.6705, 0.666, 0.6620

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