NZD/USD: Technical Analysis for November 7, 2012
2012-11-07 16:28:48 (читать в оригинале)
Overview:
The NZD/USD pair is expected to continue the movement from the point of 0.8240. Thus, the kiwi shows the signs of strength, following the breakdown of the highest level 0.8240. This fact can be considered as a good signal for BUY deals above this strong support (0.8240) with the first targets at 0.8280 and 0.8350 (it will serve as a strong resistance level and is considered to be appropriate for take profit orders). It is necessary to mention that this level will coincide with the weekly resistance 2 (0.8346). However, in case of the reverse movement and if the NZD/USD pair fails to break through the resistance level of 0.8346, the market will show a further decline to the level of 0.8300 (it is the weekly resistance 1) indicating a bearish mood in order to retest the weekly pivot point at the level of 0.8240.
Note:
Range: 106 pips.
A risk to reward ratio of 1:1.5 is recommended: risk of 106 pips must make a profit of 159.00.
Volatility: 87.29; therefore, the market indicates the higher volatility.
Weekly Pivot Points:
R3: 0.8405
R2: 0.8346
R1: 0.8299
PP: 0.8240
S1: 0.8193
S2: 0.8134
S3: 0.8087
If you have any questions or requests, please feel free to contact me mourad.elkeddani@analytics.instaforex.com.
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