NZD/USD Intraday technical levels and trading recommendations for April 12, 2018 888011000 110888 In November 2017, apparent indications of bullish recovery was revealed around the depicted low(0.6780). An inverted Head and Shoulders pattern was revealed around these cost levels.The cost zone of 0.7140-0.7250 (prominent Supply-Zone )cannot stop briefly the ongoing bullish momentum. Rather, a bullish breakout above 0.7250 was revealed on January 11. That’s why, a quick bullish movement was anticipated towards the illustrated supply zone(0.7320-0.7390)where apparent bearish rejection and a valid SELL entry were expected.On February 2, a bearish engulfing everyday candlestick was expressed off the cost level of 0.7390. A double-top reversal pattern followed by anotherlower High were expressed around the cost zone(0.7320-0.7390) where a legitimate OFFER entry was used as expected. In basic, the NZD/USD pair remains trapped between the rate levels of 0.7200 and 0.7350 up until bearish breakdown of 0.7200 occurs.The rate zone of 0.7320-0.7390 remains a considerable supply zone to provide a valid OFFER entry throughoutthe existing bullish pullback. S/L should be put above 0.7450. On the other hand, bearish breakdown of 0.7200 (neck line) is had to confirm the depicted turnaround pattern. Bearish projection target would be located around 0.7050 and 0.7000. The material has been offered by InstaForex

By | April 12, 2018

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