FX.co ★ NZD/USD: trading recommendations for May 22, 2013

Trading recommendations:

According to the previous events, the price has still been trapped between 0.8190 (50% of Fibonacci retracement levels) and 0.8120 (23.6% of Fibonacci retracement levels).

• Long buying:
• Buy above 0.8060 with the first target of 0.8120, it might resume to 0.8230.
• Short selling:
• Outlook -1-: Swing trade at 0.8234 in order to sell with a traget of 0.8100.
• Outlook -2-: Below 0.8050 look for further downside with 0.8000 and 0.7975 targets.

Warning:

Stop Loss should never exceed your maximum exposure amounts.

Risk to reward ratios are important and should be calculated.