Trading recommendations:
Pair: NZD/USD
Date:18/10/2013
- According to the previous events, the price has still been trapped between 0.8500 and 0.8450.
- Long buying:
- Buy above 0.8300 with the first target of 0.8450, it might resume to 0.8540.
- Short selling:
- Outlook -1-: Swing trade at 0.8550 in order to sell with a traget of 0.8460.
- Outlook -2-: The area below 0.8450 looks for further downside with 0.8370 and 0.8295 as targets.
Notes:
- It should be noted that the market will call for bearish market from the level of 0.8550.
- Range: 88 pips.
- Risk of 88 pips must make a profit of 132.00 (A risk to reward ratio of 1:1.5 is recommended).
Intraday technical levels:
- Resistance: 0.8585
- Support: 0.8296
