empty
 
 
15.12.2021: Forex Analysis & Reviews: NZDUSD Potential For Dips | 15th Dec 2021

analytics61b98fa10a5fe.jpg

Prices are on bearish momentum and abiding to our bearish trendline. We see potential for a dip from our 1st resistance at 0.67419 which is a graphical overlap and swing low towards our 1st support at 0.66905 in line with graphical swing low towards our 1st support at 0.66905 in line with 100% Fibonacci extension and 161.8% Fibonacci projection. Technical indicators are showing bearish momentum. Alternatively, our stop loss will be placed at 2nd resistance at 0.67724 in line with 61.8% Fibonacci extension and in line with our descending trendline.

Trading Recommendation

Entry: 0.67419

Reason for Entry:

Graphical overlap and swing low

Take Profit: 0.66905

Reason for Take Profit:

100% Fibonacci extension and 161.8% Fibonacci projection

Stop Loss: 0.67724

Reason for Stop Loss:

61.8% Fibonacci extension and in line with our descending trendline

*Disclaimer: The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Dean Leo,
Analytical expert of InstaForex
© 2007-2024
  • 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
Can't speak right now?
Ask your question in the chat.
Widget callback