Trading recommandations :
- According to the previous events, the NZD/USD pair has still been trapped between 0.7850 and 0.7735. A strong level (resistance) will be formed at the level of 0.7850, providing a clear signal for sell deals with the target seen at 0.7788 and 0.7733 in order to test the double bottom. Stop-loss is to be placed above 0.7865. In the long term, a strong level (support) will be formed at the level of 0.7662, providing a clear signal for buy deals with the targets seen at the 0.7703 and level. Stop-loss is to be placed below 0.7745.
Notes :
- We expect a range about 59 pips today.
- The risk of 59 pips must make a profit of 88 pips.
- The level of 0.7850 will confirm the bearish market.
- Volatility today is 127.86. As a rule, the market is highly volatile if the last day had a huge volatility.
The material has been provided by InstaForex Company - www.instaforex.com
