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02.10.2014 12:12 AM
Technical analysis of NZD/USD for October 2, 2014
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Forecast in the long term:

  • According to previous events, the NZD/USD pair has still been trapped between the levels 0.7805 and 0.7714.
  • Strong resistance will be formed at the level of 0.7805 providing a clear signal for sell deals with the targets seen at 0.7750 nad 0.77.
  • Stop-loss is to be placed above 0.7853.
  • In the short term, strong support will be formed at the level of 0.7666 providing a clear signal for buy deals with a small target seen at the 0.7730 level in order to retest support.

Notes:

  • We expect a range about 60 pips today.
  • The risk of 40 pips must make a profit of 60 pips.
  • The level of 0.7800 will confirm the bearish market.
  • Volatility is 122.81. As a rule, the market is highly volatile if the prior day had a huge volatility.
Summary
Urgency
Analytic
Mourad El Keddani
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