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 June 22, 2016

NZDUSDM30.png

NZD/USD is expected to trade with a bullish bias above 0.7095. The pair remains on the upside. A support base at 0.7095 has formed and allowed for a temporary stabilization. Even though a continuation of consolidation cannot be ruled out at the current stage, its extent should be very limited before a new bounce. In this case, as long as 0.7095 is not broken, further upside is expected with the next horizontal resistance and overlap set at 0.7170 and 0.7200 in extension.

Recommendation:

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. Therefore, long positions are recommended with the first target at 0.7170 and the second one at 0.72. In the alternative scenario, short positions are recommended with the first target at 0.7075 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 0.7035. The pivot point is at 0.7095.

Resistance levels: 0.7170, 0.72, 0.7245

Support levels: 0.7075, 0.7035, 0.7005

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