Trading recommandations :
In the long term:
- According to previous events, the NZD/USD pair has still been trapped between the levels of 0.7960 and 0.7785.
- A strong resistance will be formed at the level of 0.8020 providing a clear signal for sell deals with the target seen at 0.7845.
- Stop-loss is to be placed above 0.8057.
- A strong level (support) will be formed at the level of 0.7785 providing a clear signal for buy deals with the targets seen at 0.7960 and 0.8015.
- Stop-loss is to be placed below 0.7738.
Notes :
- The double top will be set at the level of 0.8020.
- We expect a range of 189 pips this week. But it should be noted that the risk of 126 pips must make a profit of 189 pips.
- Volatility: 275.91. Therefore, the market indicates the higher volatility.
- The value of 38.6% Fibonacci retracement levels is 0.7791 (it confirms the bullish market).
The material has been provided by InstaForex Company - www.instaforex.com
