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Technical analysis for the NZDUSD on 18.08.2015

The NZDUSD is correcting into the range of the descending trend line of 0.6610

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 110 pips Max. 0.6670

Min. 0.6500

nzdusd4

Bulls are correcting the price into the range of the descending trend line at 0.6610. Strong divergence suggests weakening upside potential.

Long consolidation, followed by the rebound down to the closest support at 0.6555, after the 0.6610 descending trend line test is highly possible.

If bears manage to take the price below the 0.6555 mark, the next decline targets will be situated at 0.6500, 0.6470.

Alternative scenario: the breakout of the 0.6610 descending trend line will allow bulls to push the price higher to 0.6635, 0.6670.

 

Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers in the forex market. Thank you!

 

The NZDUSD is correcting into the range of the descending trend line of 0.6610

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 110 pips Max. 0.6670

Min. 0.6500

nzdusd4

Bulls are correcting the price into the range of the descending trend line at 0.6610. Strong divergence suggests weakening upside potential.

Long consolidation, followed by the rebound down to the closest support at 0.6555, after the 0.6610 descending trend line test is highly possible.

If bears manage to take the price below the 0.6555 mark, the next decline targets will be situated at 0.6500, 0.6470.

Alternative scenario: the breakout of the 0.6610 descending trend line will allow bulls to push the price higher to 0.6635, 0.6670.

 

Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers in the forex market. Thank you!



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