Weekly technical levels of NZD/USD for December 29, 2014

The weekly technical levels of NZD/USD pair.

Forecast:

Best trade to buy the NZD/USD pair above the level of 0.7693 in the short term with the first target at the level of 0.7766. Then, it will resume towards 0.7795 as the second target. A stop loss should be placed below the strong support at 0.7658. It should be noted that the level of 0.7693 represents the weekly double bottom, and the support 1 had already set at the price of 0.7704.

Observations:

Use historic prices to determine future prices. Fibonacci retracement should be used to determine an accurate psychology level of support and resistance, and playing according to it in this time frame.
Fibonacci means trade in a range (it is looks like the trend is trapping and going up or down, if you sell or buy for a long term in this period you will sure going to lose your profit.) Stop loss should never exceed your maximum exposure amounts. Usually, the market has a high volatile, if the last day had a higher volatility.