Elliottwave Analysis: NZDUSD, one touch 0.6987 is likely
|NZDUSD formed a 5 wave decline from 0.7437.
Price almost reached 0.6659, 100% extension of a large ABC correction from 0.7557.
According to Algo Trader system, medium term trend still point down, but price hold above H4 upper bands.
We'll look to buy deeper retracement and use H1 bands as entry and exit pointer.
Price needs to close above at least 0.7063 to erase further downside risk.
Daily support levels: 0.6814 0.6791 0.6768
Dialy resistance levels: 0.6853 0.6878 0.6919
NZDUSD Trade Idea:
Buy Limit @ 0.6767 SL 0.6705 Take Profit @ 0.6897
Intraday Trade Idea: (Spot 0.6840)
Sell Latentinterest Order: 0.6878
Buy Latentinterest Order: 0.6791
We provide Daily FX Report, Trade Copy, Email Alert and MT4 EA Rental. Free trial and 30 Days Money Back policy will be valid forever! All the services could be Free
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.