Technical analysis of NZD/USD for February 21, 2018
February 21, 2018 5:22 amVideo
Latest News
- Analysis for GBP/USD on April 29th. The market is waiting for important statistics April 29, 2024
- Technical Analysis – GBPAUD in danger of bearish shift as it tests 50% Fibonacci April 29, 2024
- Trading Signals for EUR/USD for April 29-30, 2024: sell below 1.0750 (200 EMA – 4/8 Murray) April 29, 2024
- Trading Signals for GBP/USD for April 29-30, 2024: sell below 1.2553 (200 EMA – overbought) April 29, 2024
- Weekly Technical Outlook – USDJPY, EURUSD, Oil April 29, 2024
- Trading Signals for GOLD (XAU/USD) for April 29-30, 2024: buy above $2,322 (21 SMA – rebound) April 29, 2024
- Weekly Technical Outlook: 29/04/2024 – USDJPY, EURUSD, Oil April 29, 2024
- Technical Analysis – Apple stock bounces off 1-year low April 29, 2024
- Technical Analysis – GBPUSD recovers from 5-month low April 29, 2024
- USD/JPY: Simple trading tips for novice traders on April 29th (US session) April 29, 2024
- GBP/USD: Simple trading tips for novice traders on April 29th (US session) April 29, 2024
- EUR/USD: Simple trading tips for novice traders on April 29th (US session) April 29, 2024
- GBP/USD: trading plan for the US session on April 29th (analysis of morning deals). The pound continues to be bought at every April 29, 2024
- EUR/USD: trading plan for the US session on April 29th (analysis of morning deals). The euro remains locked in a side channel April 29, 2024
- Technical Analysis – USDJPY plummets after 34-year high of 160.20 April 29, 2024
- EUR/USD. April 29th. The bulls continue to advance April 29, 2024
- GBP/USD. April 29th. Bulls find it extremely difficult to move upwards, but this week could change everything April 29, 2024
- Market Comment – Yen spikes on suspected intervention; big week awaits the dollar April 29, 2024
- Forex forecast 04/29/2024: EUR/USD, GBP/USD, USD/JPY, EUR/JPY, GBP/JPY and BTC from Sebastian Seliga April 29, 2024
- Federal Reserve encounter troubles April 29, 2024
Our first downside target which we predicted in yesterday’s analysis has been hit. NZD/USD is still expected to trade with a bearish outlook. The pair is capped by a bearish trend line since February 16, which confirmed a negative outlook. The downward momentum is further reinforced by both declining 20-period and 50-period moving averages. The relative strength index lacks upward momentum.
To conclude, below 0.7375, look for a new drop with targets at 0.7305 and 0.7280 in extension.
The black line shows the pivot point. Currently, the price is above the pivot point, which is a signal for long positions. If it remains below the pivot point, it will indicate short positions. The red lines show the support levels, while the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Resistance levels: 0.7410, 0.7440, and 0.7485.
Support levels: 0.7335, 0.7295, and 0.7330.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: