Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.
Overview:
- The NZD/USD pair movement was debatable as it took place in a narrow sideways channel for a while. The market showed signs of instability. Amid the previous events, the price is still moving between the levels of 0.7131 and 0.6962. The daily resistance and support are seen at the levels of 0.7131 and 0.6962 respectively. In consequence, it is recommended to be cautious while placing orders in this area. Thus, we should wait until the sideways channel has completed. So, the strong support has been already faced at the level of 0.6962 and the pair is likely to try to approach it in order to test it again and form a double bottom. Hence, the USD/CHF pair is continuing to trade in a bullish trend from the new support level of 0.6962; to form a bullish channel. Then, we may anticipate potential testing of 0.7130 (50% of Fibonacci Expansion) to take place soon. Moreover, if the pair succeeds in passing through the level of 0.7130, the market will indicate a bullish opportunity above the level of 0.7170. A breakout of that target will move the pair further upwards to 0.7227. However, stop loss should always be taken into account, accordingly, it will be of beneficial to set the stop loss below the last bearish wave at the level of 0.6904.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.
Stay 
