Forex Analysis: 11 Jan 2017, 11:54 UTC+00

NZD/USD Intraday technical levels and trading recommendations for January 11, 2017

analytics58762a79d2634.png

显示完整画面

On November 8, significant signs of a bearish reversal were expressed around the upper limit of the depicted consolidation range (0.7350).

The bearish breakdown of 0.7250 (the lower limit of the depicted range) enhanced the bearish side of the market toward the price level of 0.7100 (recent bottom of October 28) which was broken as well.

Bearish persistence below 0.7100 allowed a quick decline toward 0.6960 (BUY zone) where bullish rejection and a valid BUY entry were expected. All T/P levels were successfully achieved.

Once again, bearish persistence below the price level of 0.7100 enabled the NZD/USD pair to pursue toward lower target levels around 0.6990 (the upper limit of the depicted BUY zone).

The price level of 0.6990 failed to apply enough bullish pressure. Instead, bearish continuation was achieved toward the lower limit of the depicted BUY zone (0.6860) which provided significant bullish rejection on December 23.

The NZD/USD pair was trapped within the depicted price range (0.6860-0.6990) until breakout occurred. That's why, the current bullish breakout above 0.6990 should be maintained and defended by the bulls.

A bullish breakout above 0.6960 will allow the pair to head initially for the price level of 0.7100 where bearish rejection is expected.



分析师:Mohamed Samy
InstaForex集团 © 2007-2017
 发表: 11 Jan 2017, 11:54 UTC+00

 
推荐: Forex Analytics
 
Elliott wave analysis of EUR/NZD for March 24, 2017
24 Mar 2017, 18:33 UTC+00   
今日评论 2555
Global macro overview for 24/03/2017
24 Mar 2017, 14:01 UTC+00   
今日评论 2294
Daily analysis of GBP/USD for March 24, 2017
24 Mar 2017, 13:08 UTC+00   
今日评论 2236
AUD/USD profit target reached perfectly, time to start buying
24 Mar 2017, 20:15 UTC+00   
今日评论 2219
EUR/JPY profit target reached, prepare to buy
24 Mar 2017, 20:15 UTC+00   
今日评论 2217