NZD/USD:
Trading recommendations:
According to the previous events, the price is still between the levels of 0.8288 and 0.8377. The descending movement will probably be lower than the 0.8340 level with the first target at 0.8255 and 0.8225, then the trend will form a double bottom at the price of 0.8194 (Daily chart). Buy deals are recommended above 0.82 with targets at 0.8263 and 0.8335 for the next week in the long term. it should be noted that the resistance level is at 0.8340 (so, sell below this level), as well as the support is at 0.82 (therefore, buy above this level after retesting this level for a long period).
Notes:
A double bottom will set at the level of 0.8194 (short term). A double top will set at the level of 0.8340 (long term). The trend: downward (the trend still calls for a bearish market on October 31, 2013). Range: 98 pips.Intraday technical levels:
Date & Time: 31/10/2013 23:40
Pair: NZD/USD
Projected High: 0.8446 Breakout (Buy Stop): 0.8391 Strong Resistance (Sell Limit): 0.8361 Current Pivot: 0.8262 Strong Support (Buy Limit): 0,.8163 Breakout (Sell Stop): 0.8138 Projected Low: 0.8088