empty
 
 
13.04.2018 05:14 PM
NZD/USD Intraday technical levels and trading recommendations for for April 13, 2018

In November 2017, evident signs of bullish recovery was expressed around the depicted low (0.6780).

An inverted Head and Shoulders pattern was expressed around these price levels. The price zone of 0.7140-0.7250 (prominent Supply-Zone) failed to pause the ongoing bullish momentum.

Instead, a bullish breakout above 0.7250 was expressed on January 11. That's why, a quick bullish movement was expected towards the depicted supply zone (0.7320-0.7390) where evident bearish rejection and a valid SELL entry were expected.

On February 2, a bearish engulfing daily candlestick was expressed off the price level of 0.7390. Moreover, a double-top reversal pattern followed by another lower High were expressed around the price zone (0.7320-0.7390) where a valid SELL entry was offered as expected.

In general, the NZD/USD pair remains trapped between the price levels of 0.7200 and 0.7350 until bearish breakdown of 0.7200 occurs.

The price zone of 0.7320-0.7390 remains a significant supply zone to offer a valid SELL entry during the current bullish pullback. S/L should be placed above 0.7450.

On the other hand, bearish breakdown of 0.7200 (neckline) is needed to confirm the depicted reversal pattern. Bearish projection target would be located around 0.7050 and 0.7000.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback