NZD/USD, D1
On the D1 chart, the pair is trading between the middle and the lower lines of Bollinger Bands; the price range is widened, which indicates a possible continuation of the downtrend. MACD histogram is in the negative zone, the signal line is crossing the body of the histogram from above which is a sign for opening short positions. Stochastic is crossing the border of the overbought area from below.
NZD/USD, H4
On the H4 chart the instrument is groin the direction of the upper line of Bollinger Bands. MACD histogram is in the negative zone, gradually reducing its volume. Stochastic is about to leave the overbought area, the oscillator lines are reversing downwards.
Key levels
Support levels: 0.6900, 0.6880, 0.6850, 0.6830.
Resistance levels: 0.6920, 0.6935, 0.6950, 0.6975, 0.7000.
Trading tips
According to the technical indicators, opening of short positions from the level of 0.6880 with the target at 0.6830 and stop-loss at 0.6910 is preferable.
Long positions may be opened from the level of 0.6935 with target at 0.7000. Stop-loss — 0.6900.
Implementation period: 1-3 days.
Trade
Scenario
Timeframe Intraday
Recommendation SELL STOP
Entry Point 0.6880
Take Profit 0.6830
Stop Loss 0.6910
Key Levels 0.6830, 0.6850, 0.6880, 0.6900, 0.6920, 0.6935, 0.6950, 0.6975, 0.7000
Alternative scenario
Recommendation BUY STOP
Entry Point 0.6935
Take Profit 0.7000
Stop Loss 0.6900
Key Levels 0.6830, 0.6850, 0.6880, 0.6900, 0.6920, 0.6935, 0.6950, 0.6975, 0.7000
On the D1 chart, the pair is trading between the middle and the lower lines of Bollinger Bands; the price range is widened, which indicates a possible continuation of the downtrend. MACD histogram is in the negative zone, the signal line is crossing the body of the histogram from above which is a sign for opening short positions. Stochastic is crossing the border of the overbought area from below.
NZD/USD, H4
On the H4 chart the instrument is groin the direction of the upper line of Bollinger Bands. MACD histogram is in the negative zone, gradually reducing its volume. Stochastic is about to leave the overbought area, the oscillator lines are reversing downwards.
Key levels
Support levels: 0.6900, 0.6880, 0.6850, 0.6830.
Resistance levels: 0.6920, 0.6935, 0.6950, 0.6975, 0.7000.
Trading tips
According to the technical indicators, opening of short positions from the level of 0.6880 with the target at 0.6830 and stop-loss at 0.6910 is preferable.
Long positions may be opened from the level of 0.6935 with target at 0.7000. Stop-loss — 0.6900.
Implementation period: 1-3 days.
Trade
Scenario
Timeframe Intraday
Recommendation SELL STOP
Entry Point 0.6880
Take Profit 0.6830
Stop Loss 0.6910
Key Levels 0.6830, 0.6850, 0.6880, 0.6900, 0.6920, 0.6935, 0.6950, 0.6975, 0.7000
Alternative scenario
Recommendation BUY STOP
Entry Point 0.6935
Take Profit 0.7000
Stop Loss 0.6900
Key Levels 0.6830, 0.6850, 0.6880, 0.6900, 0.6920, 0.6935, 0.6950, 0.6975, 0.7000