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
