InstaForex - Analytics


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    NZD/USD Trading Recommendations for 21st June, 2016


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    We can see the price being close to long-term channel resistance (0.7215) which is also a strong fractal resistance level. Along with this, stochastics (21) is also close to the strong 92% resistance level which we expect price to react off. 0.6850 is a fibonacci (62%) retracement level too so it is our first target.

    Trading recommendations:

    Sell now and another time when we are close to 0.7215

    Stop loss if price breaks 0.7215

    Take profit : 0.6850

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