empty
 
 
20.10.2015 12:02 PM
Technical analysis of NZD/USD for October 20, 2015
This image is no longer relevant

Review:

In the H4 chart:

  • The double top for the NZD/USD pair is seen at the level of 0.6896.
  • The support is found at 0.6740. This level is going to represent the weekly support 1, because the major support has already represented the weekly support 1.
  • Moreover, the double bottom is also coinciding with the major support in the same time frame.
  • We expect a range of 136 pips in coming days because the market seems trapping between the levels of 0.6760 and 0.6896.

Trading recommandations:

  • TheThe major support is found at the level of 0.6740. Buy above this area with targets at 0.6848 and 0.6896 in order to test the double top. However, stop loss should be set below the support level of 0.6740.

Intraday technical levels:

  • Projected high: 0.6896
  • Breakout (buy stop): 0.6810
  • Current Pivot: 0.6795
  • Projected low: 0.6740
  • Breakout (sell stop): 0.8432
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 $9000 more!
    In May we raffle $9000 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