empty
 
 
29.09.2015 04:33 PM
Technical analysis of NZD/USD for September 29, 2015

This image is no longer relevant

Technical outlook and chart setups:

The NZD/USD pair dropped to 0.6300 today as expected and bounced back sharply, after indicating a bullish reversal. Please note that the pair had formed a bullish morning star candlestick pattern on the H4 chart indicating reversal. The pair is looking for an opportunity to break out of the diamond consolidation resistance through 0.6400. It is hence recommended to remain long from yesterday with risk at 0.6200. Immediate support is seen at 0.6300 (interim) followed by 0.6200/25 and lower, while resistance is seen at 0.6400/50 (interim) followed by 0.6500 and higher.

Trading recommendations:

Remain long with stop set at 0.6200, a target is open.

Good luck!

Summary
Urgency
Analytic
InstaForex Analyst
Start trade
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 $6000 more!
    In December we raffle $6000 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
  • 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