NZD/USD Intraday technical levels and trading recommendations for June 19, 2017 888011000 110888 Daily Outlook The NZD/USD set has been trending up within the depicted bullish channel given that January 2016. In November 2016, early indications of bullish weak point were expressed onthe chart when the set market cannot tape-record a brand-new high above 0.7400. Bearish breakout of the lower limitation of thechannel happened in December 2016. In February 2017, the portrayed short-term sag was started of the depicted supply zone(0.7310-0.7380).Nevertheless, a recent bullish breakout above the drop line occurred on May 22. Since then, the marketplace has been bullish as depicted on the chart.The rate zone of 0.7150-0.7230(SUPPLY-ZONE in confluence with 61.8%Fibonacci level)stood as a momentary Resistance-Zone till bullish breakout was revealed above 0.7230. This led to a fast bullish advance towardsthe next Supply-Zone around 0.7310-0.7380 where apparent bearish rejection was expressed on June 14. Trade recommendations: Conservative traders can wait for a bearishclosure listed below 0.7150(61.8%Fibo level ). This shows a legitimate SELL signal.S/ L should be put above 0.7250 while T/P levels ought to be put at 0.7050, 0.6970, and 0.6850. The material has actually been supplied by InstaForex Business-www.instaforex.com

By | June 19, 2017

Share This:

Leave a Reply

Your email address will not be published. Required fields are marked *