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!

Download MT4
MT5 Terminal

NZD/USD Forming a Channel (December 5, 2013)

NZD/USD has been trending lower in the near term, as seen on the 1-hour and 4-hour time frames. To be specific, a falling channel is starting to form on the 4-hour chart, as the pair is getting ready to test the trend resistance.

Stochastic is moving higher, which means that Kiwi bulls might push the pair up to the top of the channel around the .8300 major psychological resistance. From there, if the oscillator crosses down, bears might move in and push the pair back down to the previous lows around .8100 or new lows possibly at .8050.

131205_nzdusd

 

Shorting at .8300 with a tight 50-pip stop and a target at .8050 would be a 5:1 trade but it might be helpful to move the stop to entry once price tests the middle of the channel around .8200. 

By Kate Curtis from Trader's Way

Any Questions?
Email Us: sales@tradersway.com

bob@tradersway.pro
Quotations
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

Join Us in Just 1 Minute!

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