NZD/USD: trading recommendations for November 4, 2013

Trading recommendations:

Pair:NZD/USD

Date: 04/11/2013

According to the previous events, the price has still been trapped between 0.8310 and 0.8280.
Long buying:
Buy above 0.8203 with the first target of 0.8290, it might resume to 0.8330.
Short selling:
Outlook -1-: Swing trade at 0.8370 in order to sell with a traget of 0.8330.
Outlook -2-: The area below 0.8335 looks for further downside with 0.8273 and 0.8200 as targets.

Notes:

It should be noted that the market will be called for bearish market from the level of 0.8370.
Range: 140 pips (weekly).
Risk of 140 pips must make a profit of 210.00 (A risk to reward ratio of 1:1.5 is recommended).
Volatility:115.67; therefore the market indicates the higher volatility. Variation = Average * (Higher – Lower)

Intraday technical levels:

R3: 0.8475
R2: 0.8403
R1: 0.8335
PP: 0.8263
S1: 0.8195
S2: 0.8123
S3: 0.8055

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

Trade Forex, Commodities, Stocks and more, trade CFDs on the Plus 500 CFD trading platform! *CFD Service. 80.6% lose money - Register a real money account here and get trading right away.