Ready to Start Trading?

Open a Live or Demo account online in just a few minutes and start trading on Forex and other markets.

Apply online

Any Questions?
Contact us:

phone: +1 849 9370815

email: sales@tradersway.com

Join Us in Just 1 Minute!

Télécharger MT4
MT5 Terminal

NZD/USD Channel Break (December 12, 2013)

NZD/USD has been trading in a downtrend for the past few weeks but it appears that the pair is ready to break out. Earlier today, the RBNZ had its monetary policy statement and decided to keep interest rates unchanged at 2.50%. However, RBNZ Governor Wheeler hinted that they could hike rates soon since inflationary pressures are very strong.

With that, NZD/USD might have enough energy for an upside break above the top of the channel. The .8300 area is already outside of the channel resistance, which suggests that it might be a good entry level. Setting a tight stop of 50 pips back inside the channel and below the .8300 handle should provide the trade enough leeway.

131212_nzdusd

 

Aiming for the previous highs around the .8500 major psychological resistance seems to be a reasonable target, providing a potential 2-to-1 return on risk.

By Kate Curtis from Trader's Way

Any Questions?
Email Us: sales@tradersway.com

bob@tradersway.pro/fr
Devis
Instrument Bid Ask Spread
Instrument Bid Ask Spread
Instrument Bid Ask Spread
Instrument Bid Ask Spread

2023 Martin Luther King Holiday Schedule

Due to the Martin King Holiday on 16 January, 2023, market activity and liquidity may be lower than usual....

Learn more

Rejoignez-nous en seulement 1 minute!

Télécharger MT4MT5 TerminalMetaTrader for Mac
TradersWay's Facebook TradersWay's Telegram Channel TradersWay's Twitter TradersWay's Instagram
bob@tradersway.pro/fr