NZD/USD Intraday technical levels and trading recommendations for July 27, 2018 888011000 110888 The NZD/USD pair had actually been caught in between the cost levels of 0.7170 and 0.7350 up until bearish breakdown of 0.7200 took place on April 23.Breakdown of 0.7220-0.7170(neck line zone)was had to verify the depicted reversal pattern. Bearish target levels around 0.7050 and 0.7000 have been achieved already.The price level of 0.7050 was considered a key-level for the NZD/USD bears That’s why, bearish persistence below 0.7050 enabled further bearish decline to happen to the price levels around 0.6800. As prepared for, the current bullish pullback towards the rate level of 0.7050(Damaged Demand-Level )used a good opportunity for a legitimate OFFER entry. Quick bearish decrease took place towards 0.6800 where a false bearish breakdown took place. This allowed short-lived bearish movement to happen towards 0.6680. The set stopped working to preserve sufficient bearish momentum.On July 7, evident bullish rejection pushed the NZD/USD pair above 0.6820 again. This was followed by a recent bullish turnaround pattern(123 pattern )which improves the bullish side of the market.Recent indications of bullish weakness appeared on the chart. The bulls are failing to maintain adequate bullish momentum above 0.6820.Bullish fixation above 0.6820 should be maintained in order to enable additional bullish development to 0.6900 and 0.6980.Trade Recommendations:The rate zone 0.6750-0.6800 still makes up a need zone to be thought about for a legitimate BUY entry. Bullish persistence above 0.6820 is needed to offer adequate bullish momentum to 0.6900 then most likely 0.6980. The product has been provided by InstaForex Business – www.instaforex.com

By | July 27, 2018

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