Is it the time to buy NZDUSD?
Mostafa Abdelaziz | Jun 24, 2018 03:25PM ET
- On the weekly time frame, the pair reached the same support level that bounced up more than 3 times before and it was also a strong resistance level, plus there's Pinbar candlestick that maybe change the direction to up, also there's a negative divergence.
- The daily time frame, there's Doji candlestick then Bullish Engulfing candlestick, which may be a good sign to go long this week.
- Using the Fibonacci levels On H4 time frame from the high 0.7025 to the low 0.6823, we will find that, the pair faces resistance level at 38.2 Fib so if the pair break out this resistance level it will be a good sign to go long.
- Entry level: 0.9622
Tp1: 0.9650
Tp2: 0.7025
Tp3: 0.7140
stop loss below 0.6820
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.