FX.co ★ NZD/USD: trading recommendations for November 4, 2013

Trading recommendations:

Pair:NZD/USD

Date: 04/11/2013

• According to the previous events, the price has still been trapped between 0.8310 and 0.8280.
• Long buying:
• Buy above 0.8203 with the first target of 0.8290, it might resume to 0.8330.
• Short selling:
• Outlook -1-: Swing trade at 0.8370 in order to sell with a traget of 0.8330.
• Outlook -2-: The area below 0.8335 looks for further downside with 0.8273 and 0.8200 as targets.

Notes:

• It should be noted that the market will be called for bearish market from the level of 0.8370.
• Range: 140 pips (weekly).
• Risk of 140 pips must make a profit of 210.00 (A risk to reward ratio of 1:1.5 is recommended).
• Volatility:115.67; therefore the market indicates the higher volatility. Variation = Average * (Higher - Lower)

Intraday technical levels:

• R3: 0.8475
• R2: 0.8403
• R1: 0.8335
• PP: 0.8263
• S1: 0.8195
• S2: 0.8123
• S3: 0.8055