empty
 
 
24.07.2017 02:43 PM
Technical analysis of NZD/USD for July 24, 2017

This image is no longer relevant

NZD/USD is expected to trade with a bullish outlook. The technical outlook of the pair is positive as the price recorded higher tops and higher bottoms since July 20. The upward momentum is further reinforced by both ascending 20-period and 50-period moving averages. The relative strength is bullish above its neutrality level at 50.

To conclude, as long as 0.7390 holds on the downside, look for a new upside to 0.7500 and even to 0.7530 in extension.

Strategy: BUY Stop Loss: 0.7390 Take Profit: 0.7470

Chart Explanation:

The black line shows the pivot point. Currently, the price is above the pivot point which indicates the bullish position. If it is below the pivot points, it indicates the short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.

Resistance levels: 0.750, 0.7530, and 0.7565

Support levels: 0.7360, 0.7330, and 0.7285

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