FX.co ★ NZD/USD: trading recommendations for October 15, 2013

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