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USD/JPY: upward momentum maintains 20 September 2019, 14:15

USD/JPY: upward momentum maintains 20 September 2019, 14:15 Scenario Timeframe Weekly Recommendation BUY Entry Point 1...

Aug 13, 2019

NZD/USD: technical analysis 13 August 2019, 11:56


Scenario
Timeframe Intraday
Recommendation SELL STOP
Entry Point 0.6425
Take Profit 0.6377
Stop Loss 0.6450
Key Levels 0.6377, 0.6393, 0.6425, 0.6444, 0.6469, 0.6488, 0.6515, 0.6539, 0.6555, 0.6570
Alternative scenario
Recommendation BUY STOP
Entry Point 0.6470
Take Profit 0.6515
Stop Loss 0.6440
Key Levels 0.6377, 0.6393, 0.6425, 0.6444, 0.6469, 0.6488, 0.6515, 0.6539, 0.6555, 0.6570
NZD/USD, H4
On the 4-hour chart, the downtrend is still relevant. The instrument is trading within a sideways channel formed by the boundaries of Bollinger bands, the indicator cloud is narrowed. The MACD histogram is in the negative area, keeping a signal to open sell orders. Stochastic is in the neutral zone at the border with the oversold zone, the oscillator lines are directed horizontally.

NZD/USD, D1
On the daily chart, the instrument is decreasing along the lower border of Bollinger bands, the indicator cloud is expanded, which indicates the likely preservation of a downtrend. The MACD histogram is in the negative area, the signal line crosses the zero line and the histogram body downwards, forming a signal to open short positions. Stochastic is in the neutral zone, the oscillator lines are moving horizontally.

Key levels
Resistance levels: 0.6469, 0.6488, 0.6515, 0.6539, 0.6555, 0.6570.
Support levels: 0.6444, 0.6425, 0.6393, 0.6377.
Trading tips
Short positions can be opened from the level of 0.6425 with the target at 0.6377 and stop loss 0.6450.
Long positions can be opened from the level of 0.6470 with the target at 0.6515. Stop loss is 0.6440.
Implementation period: 1–3 days.

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