NZD/USD: the pair is growing 06.12.2017
Good afternoon, dear forum visitors!
NPBFX offers the latest release of analytics on the NZD/USD for a better understanding of the current market situation and more efficient trading.
Current trend
Yesterday New Zealand dollar insignificantly grew against US one, but now is increasing actively, due to the weakening of the American currency.
Despite the restoration of US government bond growth, investors do not buy USD and wait for new signals.
Yesterday’s US November Markit Services PMI publication disappointed the traders, and they focused their attention on today’s ADP Employment Change release, which will help to prepare for final employment reports publication on Friday.
New Zealand macroeconomical statistics supports the instrument insignificantly. Yesterday’s GDT Price Index grew by 0.4% MoM after the fall by 3.4% MoM in the previous month.
Support and resistance
On the daily chart, Bollinger Bands are moving flat. The price range is slightly narrowing in the bottom, reflecting the uncertainty of the trading sessions of the beginning of the week. It is better to use channel-trading strategy until the situation is clear.
MACD is growing, keeping a weak buy signal (the histogram is above the signal line). It is better to keep current long positions in the short term, but not to open new ones until new signals appear.
Stochastic's dynamics is the same, but the indicator’s line reversed upwards in the beginning of the week. Current readings do not contradict with the further “bullish” trend development in the short or/and very short term.
Resistance levels: 0.6903, 0.6917, 0.6943, 0.6956.
Support levels: 0.6873, 0.6843, 0.6814, 0.6779.
Trading tips
Long positions can be opened after breakout of the levels of 0.6903 or 0.6917 with the targets at 0.6943–0.6956 and stop loss at 0.6880. Implementation period: 2-3 days.
Correctional short positions can be opened after rebound at the level of 0.6903 and breakout of the level 0.6873 with the targets at 0.6843 or 0.6814 and stop loss at 0.6900. Implementation period: 2-3 days.
Use more opportunities of the NPBFX analytical portal: analytics
You can find more actual analytical reviews on other popular currency pairs, metals and CFDs on the NPBFX online portal. Daily analytics with charts, current market prognoses and trading scenarios in the Feed section are available. Get free and unlimited access to the online portal after registering on the official website of NPBFX Company.
If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist.
Use the current recommendations of analysts on NZD/USD and trade efficiently with NPBFX.
Good afternoon, dear forum visitors!
NPBFX offers the latest release of analytics on the NZD/USD for a better understanding of the current market situation and more efficient trading.
Current trend
Yesterday New Zealand dollar insignificantly grew against US one, but now is increasing actively, due to the weakening of the American currency.
Despite the restoration of US government bond growth, investors do not buy USD and wait for new signals.
Yesterday’s US November Markit Services PMI publication disappointed the traders, and they focused their attention on today’s ADP Employment Change release, which will help to prepare for final employment reports publication on Friday.
New Zealand macroeconomical statistics supports the instrument insignificantly. Yesterday’s GDT Price Index grew by 0.4% MoM after the fall by 3.4% MoM in the previous month.
Support and resistance
On the daily chart, Bollinger Bands are moving flat. The price range is slightly narrowing in the bottom, reflecting the uncertainty of the trading sessions of the beginning of the week. It is better to use channel-trading strategy until the situation is clear.
MACD is growing, keeping a weak buy signal (the histogram is above the signal line). It is better to keep current long positions in the short term, but not to open new ones until new signals appear.
Stochastic's dynamics is the same, but the indicator’s line reversed upwards in the beginning of the week. Current readings do not contradict with the further “bullish” trend development in the short or/and very short term.
Resistance levels: 0.6903, 0.6917, 0.6943, 0.6956.
Support levels: 0.6873, 0.6843, 0.6814, 0.6779.
Trading tips
Long positions can be opened after breakout of the levels of 0.6903 or 0.6917 with the targets at 0.6943–0.6956 and stop loss at 0.6880. Implementation period: 2-3 days.
Correctional short positions can be opened after rebound at the level of 0.6903 and breakout of the level 0.6873 with the targets at 0.6843 or 0.6814 and stop loss at 0.6900. Implementation period: 2-3 days.
Use more opportunities of the NPBFX analytical portal: analytics
You can find more actual analytical reviews on other popular currency pairs, metals and CFDs on the NPBFX online portal. Daily analytics with charts, current market prognoses and trading scenarios in the Feed section are available. Get free and unlimited access to the online portal after registering on the official website of NPBFX Company.
If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist.
Use the current recommendations of analysts on NZD/USD and trade efficiently with NPBFX.