Forex trade recommendations on NZDCAD 1-06-2016 by AzaForex forex broker
Completely essential advice for any foreign exchange trader.
New Zealand Dollar exchange rate slowly moves to the level of resistance. The Canadian dollar is opposed to an abrupt change in the course of the currency pair for several days. Now is the Forex market is calm, there is no distinct trends. Therefore, we rely on a strong move, but in the case of breaking the resistance level of the price can easily pass 80 points.
The price is above a simple moving average 20 MA and 200 MA indicating bullish trend.
The MACD trend indicator is above zero level now, indicating bullish movement.
If the resistance level is broken you can use the following recommendation:
• Chart timeframe: H4
• The trade recommendation: Buy
• The level of entry into long position: 0.8930
• The level of profit and close the position: 0.9000 (70 pips)
Metal GOLD
Possible bearish movement in the breakdown of the support level 1212.60
Forex currency pair EURUSD
Possible bullish movement in the breakout of the resistance level 1.1170
Forex currency pair USDCHF
Possible bearish movement in the breakdown of the support level 0.9880
Forex currency pair GBPUSD
Possible bearish movement in the breakdown of the support level 1.4430
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