Trading recommendations :
- The NZD/USD pair in the short term.
- The NZD/USD pair is in the short term. The price of the NZD/USD pair is going to turn to bearish sentiment from the level of 0.8735. It should be noted that the last top has set at the level of 0.8751. Accordingly, it will be a good sign to sell below 0.8735/0.8751 with the first target of 0.8700 to test minor support at this price. Also, it will call for downtrend in order to continue its bearish movement towards 0.8670. At the same time, the stop loss should be placed above 0.8750 at the price of 0.8800. Also, the stop loss has set in 50 pips. Hence, the risk of 50 pips should make a profit of 75 pips. Equally important, the support will set at the 0.8636 level. Additionally, it should be noticed that the range today will be about 48 pips because we had a low volatility today. As a rule, the market is lower volatile if the last day had a weak volatility.
Intraday technical levels :
- R3: 0.8792
- R2: 0.8772
- R1: 0.8743
- PP: 0.8723
- S1: 0.8694
- S2: 0.8674
- S3: 0.8645
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 June 23, 2014 . Thanks for your support on Technical analysis of NZD/USD for June 23, 2014
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