The pair closed last week on a bearish note and technically, since it opened today below the pivot price which is at 1.0560, we would normally expect to see it head further down. However there are some things to note based on the price action being observed.
Posted on: January 9, 2017
The precious metal opened the day above the pivot price which is at 1172. Technically the RSI shows momentum for further upward movement, but caution should be taken.
In taking a trade, watch to see price action around the pivot price. If price makes a bounce and heads back up, then long positions can be taken with targets around 1182 and also 1187. On the other hand if price pushes below the pivot zone and heads down then short positions will be recommended with targets around 1168 and 1162.
Posted on: January 5, 2017
NZDUSD has made a double bottom pattern on the 1 hour time frame and is good to cross the neckline of the pattern. The RSI also shows some good upward momentum. Other technical indicators including the moving average also supports further bullish movement.
The days pivot price is at 0.688550. Best trade recommendation for this pair would be to go long and target 0.6955 and 0.6975.
Posted on: January 4, 2017
The markets have resumed trading for the year with the Dollar keeping up the strong performance that it closed 2016 with. EURUSD opened today below the pivot price which is at 1.0495, also maintaining a place in a bearish channel.
Posted on: January 3, 2017
Posted on: December 30, 2016
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