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NZD/USD intraday technical analysis for December 10, 2013

December 10, 2013 2:15 pm

Trading recommendations: 

NZD/USD:

According to the previous events, the price has still been trapped between 0.8340 and 0.8290.
  • Long buying: 
  • Buy above 0.82 with the first target of 0.8293, it might resume to 0.8366. 
  • Short selling: 
  • Outlook -1-: Swing trade at 0.8370 in order to sell with a traget of 0.8313. 
  • Outlook -2-: Below 0.8300 look for further downside with 0.8220 and 0.8190 as targets.
Note: 
  • It should be noted that the market will call for bearish market from the level of 0.8370.
  • Range: 70 pips (daily).
  • Volatility: 52.22; therefore, the market indicates the lower volatility. | Volatility Formula: Variation = Average * (Higher – Lower)

Intraday technical levels: 

  • R3: 0.8385
  • R2: 0.8353
  • R1: 0.8322
  • PP: 0.8290
  • S1: 0.8259
  • S2: 0.8227
  • S3: 0.8196

The material has been provided by InstaForex Company – www.instaforex.com

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