NZD/USD Intraday technical levels and trading recommendations for April 10, 2018 888011000 110888 In November 2017, evident signs of bullish healing was expressed around the illustrated low(0.6780). An inverted Head and Shoulders pattern was expressed around these price levels.The price zone of 0.7140-0.7250 (prominent Supply-Zone )failed to pause the ongoing bullish momentum. Instead, a bullish breakout above 0.7250 was expressed on January 11. That’s why, a quick bullish movement was expected to the illustrated 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 off the rate level of 0.7390. A double-top reversal pattern followed by anotherlower High were expressed around the price zone(0.7320-0.7390) where a legitimate SELL entry was provided as anticipated. In basic, the NZD/USD pair remains trapped between the cost levels of 0.7200 and 0.7350 until bearish breakdown of 0.7200 occurs.The cost zone of 0.7320-0.7390 remains a substantial supply zone to offer a legitimate SELL entry when any bullish pullback occurs.On the other hand, bearish breakdown of 0.7200 (neck line )is had to confirm the depicted turnaround pattern. Bearish projection target would lie around 0.7050 and 0.7000. The product has actually been provided by InstaForex Company-www.instaforex.com

By | April 10, 2018

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