Daily pivot point: 0.8698
Trading recommendations :
- The NZD/USD pair is in the short term.
- Due to the previous events, the price is still between the levels of 0.8660 and 1.6705, so it is recommended to be careful while making deals in this area. Considering, it should be noted that the market will turn to bearish sentiment from the level of 0.8750. Therefore, it will a good sign to sell below 0.8750 with the first target of 0.8700 (this level is representing the daily pivot point). It will call for downtrend in order to continue its bearish movement towards 0.8630. Notwithstanding, the stop loss should never exceed your maximum exposure amounts. Consequently, the stop loss should be placed above 0.8750 at the price of 0.8775.
Notes :
- We expect a range of 75 pips today.
- The risk of 50 pips must make a profit of 75 pips.
- Volatility: 60.97. As a rule, the market is highly volatile if the last day had a huge volatility. But yesterday the market saw lower volatility.
Intraday technical levels:
Date: 11/04/2014
Pair: NZD/USD
- R3: 0.8792
- R2: 0.8768
- R1: 0.8722
- PP: 0.8698
- S1: 0.8652
- S2: 0.8628
- S3: 0.8582
The material has been provided by InstaForex Company - www.instaforex.com
For detail explanation and best discovery on market trends you may visit via Technical analysis of NZD/USD for April 11, 2014 . Thanks for your support on Technical analysis of NZD/USD for April 11, 2014
No comments:
Post a Comment