empty
 
 
25.09.2017 03:59 AM
NZD/USD starting to face resistance, prepare to sell

The price has bounced up perfectly from our buying area last week. Now we're seeing the price testing a strong resistance at 0.7343 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) and we expect to see a strong reaction from here to push the price down to at least 0.7279 support (Fibonacci extension, horizontal swing low support, Fibonacci retracement) once again.

Stochastic (34,5,3) is seeing major resistance at 95% and we expect to see a strong reaction off this level too.

Sell below 0.7343. Stop loss is at 0.7390. Take profit is at 0.7279.

This image is no longer relevant

Dean Leo,
Analytical expert of InstaForex
© 2007-2024
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 $1000 more!
    In April we raffle $1000 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