Antony_NPBFX
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NZD/USD: the pair grows 21.06.2019
Good afternoon, dear forum visitors!
NPBFX offers the latest release of analytics on NZD/USD for a better understanding of the current market situation and more efficient trading.
Current trend
NZD is actively growing against USD, developing the “bullish” dynamics since June 18. Strengthening the instrument is largely due to the weakening of USD after the Fed hinted at a possible interest rate cut at the July meeting. Also, investors are encouraged by the possibility of concluding a trade agreement between the US and China, which will favorably affect the dynamics of commodity assets and will help reduce the overall tensions in the market.
Yesterday, NZD was supported by macroeconomic statistics. Thus, Q1 GDP of New Zealand increased by 0.6% QoQ and 2.5% YoY, which fully coincided with the growth rate for the last quarter. Analysts had expected a slight slowdown to +2.4% YoY.
Support and resistance
On the daily chart, Bollinger bands move flat. The price range is virtually unchanged but remains quite spacious for the current activity level. The MACD grows, keeping a moderate buy signal (the histogram is above the signal line), and is preparing to test the zero line. Stochastic is growing almost vertically but is rapidly approaching its highs, which indicates that NZD may become overbought in the super short term.
It is better to open new long positions until the current “bullish” signals from the indicators are canceled.
Resistance levels: 0.6610, 0.6645, 0.6665, 0.6680.
Support levels: 0.6580, 0.6565, 0.6546, 0.6524.
Trading tips
Long positions can be opened after the breakout of 0.6610 with the target at 0.6665 or 0.6680. Stop loss is 0.6580.
Short positions can be opened after a rebound from 0.6610 and a breakdown of 0.6580 with the target at 0.6524. Stop loss is 0.6610.
Implementation period: 2–3 days.
Use more opportunities of the NPBFX analytical portal: E-book
If you just recently started to be interested in trading on FOREX and would like to deepen your knowledge, an electronic Beginner's Guide to FOREX Trading will be an excellent helper for you here. The book consists of 5 chapters and reflects fundamental concepts of the foreign exchange market to start successful trading. From the main chapters of the E-book you can learn about the concepts and history of FOREX, currencies and trend lines, technical indicators, types of orders, trading on news, psychology of trading, risk management and much more.
You can read a Beginner's guide to FOREX Trading online or download it free of charge from the NPBFX analytical portal in the "Education" section. In order to get unlimited access to the E-book and other useful instruments on the portal, you need to register on the NPBFX website.
If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist.
Use the current recommendations of analysts on NZD/USD and trade efficiently with NPBFX.
Good afternoon, dear forum visitors!
NPBFX offers the latest release of analytics on NZD/USD for a better understanding of the current market situation and more efficient trading.
Current trend
NZD is actively growing against USD, developing the “bullish” dynamics since June 18. Strengthening the instrument is largely due to the weakening of USD after the Fed hinted at a possible interest rate cut at the July meeting. Also, investors are encouraged by the possibility of concluding a trade agreement between the US and China, which will favorably affect the dynamics of commodity assets and will help reduce the overall tensions in the market.
Yesterday, NZD was supported by macroeconomic statistics. Thus, Q1 GDP of New Zealand increased by 0.6% QoQ and 2.5% YoY, which fully coincided with the growth rate for the last quarter. Analysts had expected a slight slowdown to +2.4% YoY.
Support and resistance
On the daily chart, Bollinger bands move flat. The price range is virtually unchanged but remains quite spacious for the current activity level. The MACD grows, keeping a moderate buy signal (the histogram is above the signal line), and is preparing to test the zero line. Stochastic is growing almost vertically but is rapidly approaching its highs, which indicates that NZD may become overbought in the super short term.
It is better to open new long positions until the current “bullish” signals from the indicators are canceled.
Resistance levels: 0.6610, 0.6645, 0.6665, 0.6680.
Support levels: 0.6580, 0.6565, 0.6546, 0.6524.
Trading tips
Long positions can be opened after the breakout of 0.6610 with the target at 0.6665 or 0.6680. Stop loss is 0.6580.
Short positions can be opened after a rebound from 0.6610 and a breakdown of 0.6580 with the target at 0.6524. Stop loss is 0.6610.
Implementation period: 2–3 days.
Use more opportunities of the NPBFX analytical portal: E-book
If you just recently started to be interested in trading on FOREX and would like to deepen your knowledge, an electronic Beginner's Guide to FOREX Trading will be an excellent helper for you here. The book consists of 5 chapters and reflects fundamental concepts of the foreign exchange market to start successful trading. From the main chapters of the E-book you can learn about the concepts and history of FOREX, currencies and trend lines, technical indicators, types of orders, trading on news, psychology of trading, risk management and much more.
You can read a Beginner's guide to FOREX Trading online or download it free of charge from the NPBFX analytical portal in the "Education" section. In order to get unlimited access to the E-book and other useful instruments on the portal, you need to register on the NPBFX website.
If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist.
Use the current recommendations of analysts on NZD/USD and trade efficiently with NPBFX.