Technical analysis of NZD/USD for December 20, 2017

[ad_1]

NZDUSDH1.png

Overview:

  • The trend of NZD/USD pair movement was controversial as it took place in a narrow sideways channel, the market showed signs of instability. Amid the previous events, the price is still moving between the levels of 0.6927 and 0.7034. Also, the daily resistance and support are seen at the levels of 0.6927 and 0.6872 respectively. Therefore, it is recommended to be cautious while placing orders in this area. So, we need to wait until the sideways channel has completed. Last week, the market moved from its bottom at 0.6927 and continued to rise towards the top of 0.7034. Today, in the one-hour chart, the current rise will remain within a framework of correction. However, if the pair fails to pass through the level of 0.7034, the market will indicate a bearish opportunity below the strong resistance level of 0.7034 (the level of 0.7034 coincides with the double top too). Since there is nothing new in this market, it is not bullish yet. Sell deals are recommended below the level of 0.7034 with the first target at 0.6927. If the trend breaks the support level of 0.6927, the pair is likely to move downwards continuing the development of a bearish trend to the level 0.6872 in order to test the daily support 2. Also, it should be noted that the double bottom is seen at the point of 0.6822.

The material has been provided by InstaForex Company – www.instaforex.com

[ad_2]

Source link

قالب وردپرس



We hope you enjoyed reading the above post. How about helping us share the information to your fans and friends on social media? Meanwhile, you can rely on us daily for the latest and relevant free forex trading signals, free forex trading market news, free forex trading technical levels, weekly Pool draws, latest news from Nigeria and the world, educational articles and quality academic information, insurance news and scientific knowledge.



Do you need a classical ORGANIST or an excellent music teacher? CALL Fabian on 08033983034 or email him at agfab2013@gmail.com


Follow us on twitter @newsbeatportal

learn how to make profit from your losing bets on nairabet, bet9ja, merrybet, surebet. 07030635051
Engage #SantexTech today to build & install inverters, training on inverters & other electronic designs, projects/kits. Call 08039574535


Click to join Talk Nigeria Today, a group where hot, controversial, and breathtaking issues are brainstormed upon.

Konga Verified Blogger

Leave a Reply