empty
 
 
17.11.2020 05:00 PM
NZDUSD vulnerable to a pull back towards 0.68-0.6785 if short-term support at 0.6865 fails to hold.

With NZDUSD in a bullish channel and price making higher highs and higher lows, we have confirmation that trend is still bullish. However there are some signs that we should not ignore and they are not very good for bulls.

This image is no longer relevant

Blue lines - bullish channel

Red rectangle- first pull back target

Black lines -Fibonacci retracements

NZDUSD despite making a marginal higher high, it looks weak and ready to turn lower. Price is now challenging lower channel boundary support at 0.6875. If the channel is broken we expect price to test the 38% Fibonacci retracement level around 0.6790. The RSI is not following price and is not making higher highs also. This bearish divergence supports our view that a pull back is near. The first target area for a pull back is found at the 38% Fibonacci level. Specially if support at 0.6790-0.6780.

通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $5000 more!
    In November we raffle $5000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

推荐文章

现在无法通话?
提出您的问题,用 在线帮助.
Widget callback