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 January 17, 2017

1484645836_NZDUSDH4.png

Overview:

  • The NZD/USD pair continues to move upwards from the level of 0.7095. Yesterday, the pair rose from the level of 0.7095 (the level of 0.7095 coincides with a ratio of 61.8% Fibonacci retracement) to a top around 0.7180. Today, the first support level is seen at 0.7157 followed by 0.7095, while daily resistance 1 is seen at 0.7194. According to the previous events, the NZD/USD pair is still moving between the levels of 0.7157 and 0.7238; for that we expect a range of 81 pips (0.7238 - 0.7157). Currently, the price is moving in a bullish channel. This is confirmed by the RSI indicator signaling that we are still in a bullish trending market. The price is still above the moving average (100). On the four-hour chart, immediate resistance is seen at 0.7194. Therefore, if the trend is able to break out through the first resistance level of 0.7194, we should see the pair climbing towards the daily resistance at 0.7238 to test it. It would also be wise to consider where to place stop loss; this should be set below the second support of 0.7049.
The material has been provided by InstaForex Company - www.instaforex.com