Trading recommendations:
Pair:NZD/USD
Date:15/10/2013
According to the previous events, the price has still been trapped between 0.8340 and 0.8385. Long buying: Buy above 0.8200 with the first target of 0.8388, it might resume to 0.8445. Short selling: Outlook -1-: Swing trade at 0.8465 in order to sell with a traget of 0.8325. Outlook -2-: The area below 0.8300 looks for further downside with 0.8255 and 0.8190 as targets.
Notes:
It should be noted that the market will be called for bearish market from the level of 0.8070. Range: 72 pips. Risk of 72 pips must make a profit of 108.00 (A risk to reward ratio of 1:1.5 is recommended).
Intraday technical levels:
R3: 0.8463
R2: 0.8422
R1: 0.8391
PP: 0.8350
S1: 0.8319
S2: 0.8278
S3: 0.8247