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 strong resistance of the NZD/USD pair is seen at the price of 0.7261. Today resistance is seen at the levels of 0.7323 and 0.7261 and the pair is likely to try to approach it in order to test it again. However, if the pair fails to pass through the level of 0.7323, the market will indicate a bearish opportunity below the level of 0.7323, which coincides with a ratio of 61.8% Fibonacci. Moreover, the RSI starts signaling a downward trend. In overall, we still prefer the bearish scenario as long as the price is below the level of 0.7261. Hence, we should wait until the downtrend channel is complete. Thus, the market is indicating a bearish opportunity below 0.7261, so it will be gainful to sell at 0.7261 with the first target of 0.7175. It will also call for a downtrend in order to continue towards 0.7121 and 0.7077 which represents strong daily support. On the other hand, the stop loss should always be taken into account, for that it will be reasonable to set your stop loss at the level of 0.7350.
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 
