Antony_NPBFX
NPBFX Representative (unconfirmed)
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NZD/USD: the instrument is strengthening 25.03.2020
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 showing moderate growth against USD during today’s Asian session, updating local highs of March 18. Active support for the instrument is still provided by the growth of correctional sentiments in USD against the background of the aggressive Fed policy aimed at helping the US economy. However, the general tension in the market associated with the risks of the further spread of the coronavirus pandemic remains.
Published on Wednesday, macroeconomic statistics from New Zealand slightly supported NZD. In February, export volumes grew by USD 4.92B, accelerating from the previous value of USD 4.689B. Imports for the same period slowed from USD 5.103B to USD 4.33B, which led to a slight increase in the trade surplus in February. In monthly terms, in February, the trade balance entered the green zone at USD 594M after a deficit of USD 414M in January.
Support and resistance
Bollinger Bands in D1 chart demonstrate active decrease. The price range is narrowing, reflecting the emergence of ambiguous dynamics of trading in the short term. MACD indicator is growing preserving a stable buy signal (located above the signal line). Stochastic is showing similar dynamics, quickly approaching its highs, indicating the risks of overbought NZD in the ultra-short term.
Existing long positions should be kept in the short and/or ultra-short term until the situation is clear.
Resistance levels: 0.5915, 0.6000, 0.6050, 0.6120.
Support levels: 0.5805, 0.5690, 0.5589, 0.5467.
Trading tips
To open long positions, one can rely on the breakout of 0.5915. Take-profit – 0.6100 or 0.6120. Stop-loss – 0.5805.
Rebound from 0.5915 as from resistance, followed by a breakdown of 0.5805 may become a signal for new sales with the target at 0.5589. Stop-loss – 0.5915.
Implementation time: 2-3 days.
Use more opportunities of the NPBFX analytical portal: weekly FOREX forecast
You can learn more about the current situation on NZD/USD and get acquainted with the weekly analytical forecast in the "Video reviews" section on the NPBFX portal. Weekly video reviews contain trends, key levels, trading recommendations for such popular instruments as EUR/USD, GBP/USD, USD/JPY, AUD/USD. In order to get free and unlimited access to video forecast 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 showing moderate growth against USD during today’s Asian session, updating local highs of March 18. Active support for the instrument is still provided by the growth of correctional sentiments in USD against the background of the aggressive Fed policy aimed at helping the US economy. However, the general tension in the market associated with the risks of the further spread of the coronavirus pandemic remains.
Published on Wednesday, macroeconomic statistics from New Zealand slightly supported NZD. In February, export volumes grew by USD 4.92B, accelerating from the previous value of USD 4.689B. Imports for the same period slowed from USD 5.103B to USD 4.33B, which led to a slight increase in the trade surplus in February. In monthly terms, in February, the trade balance entered the green zone at USD 594M after a deficit of USD 414M in January.
Support and resistance
Bollinger Bands in D1 chart demonstrate active decrease. The price range is narrowing, reflecting the emergence of ambiguous dynamics of trading in the short term. MACD indicator is growing preserving a stable buy signal (located above the signal line). Stochastic is showing similar dynamics, quickly approaching its highs, indicating the risks of overbought NZD in the ultra-short term.
Existing long positions should be kept in the short and/or ultra-short term until the situation is clear.
Resistance levels: 0.5915, 0.6000, 0.6050, 0.6120.
Support levels: 0.5805, 0.5690, 0.5589, 0.5467.
Trading tips
To open long positions, one can rely on the breakout of 0.5915. Take-profit – 0.6100 or 0.6120. Stop-loss – 0.5805.
Rebound from 0.5915 as from resistance, followed by a breakdown of 0.5805 may become a signal for new sales with the target at 0.5589. Stop-loss – 0.5915.
Implementation time: 2-3 days.
Use more opportunities of the NPBFX analytical portal: weekly FOREX forecast
You can learn more about the current situation on NZD/USD and get acquainted with the weekly analytical forecast in the "Video reviews" section on the NPBFX portal. Weekly video reviews contain trends, key levels, trading recommendations for such popular instruments as EUR/USD, GBP/USD, USD/JPY, AUD/USD. In order to get free and unlimited access to video forecast 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.