Trading recommendations:
NZD/USD:
According to the previous events, the price has still been trapped between 0.8340 and 0.8290.
- Long buying:
- Buy above 0.82 with the first target of 0.8293, it might resume to 0.8366.
- Short selling:
- Outlook -1-: Swing trade at 0.8370 in order to sell with a traget of 0.8313.
- Outlook -2-: Below 0.8300 look for further downside with 0.8220 and 0.8190 as targets.
Note:
- It should be noted that the market will call for bearish market from the level of 0.8370.
- Range: 70 pips (daily).
- Volatility: 52.22; therefore, the market indicates the lower volatility. | Volatility Formula: Variation = Average * (Higher - Lower)
- R3: 0.8385
- R2: 0.8353
- R1: 0.8322
- PP: 0.8290
- S1: 0.8259
- S2: 0.8227
- S3: 0.8196
