NZD/USD Intraday technical levels and trading suggestions for February 12, 2018 888011000 110888 Daily Outlook In July 2017, an atypical Head and Shoulders pattern was revealed on the illustrated chart which showed upcoming bearish reversal.As anticipated, the rate level of 0.7050 stopped workingto use sufficient bullish support for the NZD/USD pair. That’s why, even more bearish decrease was expected towards 0.6800(Reversal pattern bearish target ). Evident signs of bullish healing was expressed around the portrayed low (0.6780). An inverted Head and Shoulders pattern was expressed around these rate levels.The cost zone of 0.7140-0.7250( prominent Supply-Zone )failedto pause the continuous bullish momentum. Instead, a bullish breakout above 0.7250 was revealed onJanuary 11. That’s why, the present bullish movement extended towards the price levels of 0.7320 and 0.7390. A quick bullish movement was expected to the depicted supply zone(0.7320-0.7390)where obvious bearish rejection and a legitimate SELL entry were expected.On February 2, a bearish engulfing everyday candlestick was expressed. This boosts the bearish situation at first to the rate levels of 0.7230 -0.7165 where cost action need to be watched for a possible bullish recovery.Our recommended OFFER position around 0.7390 is already running in revenues. Bearish fixation listed below 0.7160 enables further bearish decline towards 0.7090 while S/L must be reduced to 0.7260 to protect some earnings The product has actually been provided by InstaForex Company- www.instaforex.com

By | February 12, 2018

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