Forex Trading: NZDUSD Technical Analysis - January 03, 2018 - FXDailyReport.com

-
Free $50 Forex No-Deposit Bonus

The New Zealand Dollar (NZD) rose against the US Dollar (USD) on Thursday, increasing the price of NZDUSD to more than 0.6600 following some major economic releases. The technical bias shall remain bearish because the pair’s price marked a lower low in the recent downside move.

NZD/USD Technical Analysis

As of January 03, 2019 the pair is being traded around 0.6668. Since the price is increasing, a resistance can be witnessed around 0.6716, the major horizontal resistance level. Another resistance may come at 0.6776, the 38.2% Fib level resistance and then 0.6791, the trend line resistance as demonstrated in the given below chart.

Related Articles:

Coming towards the upside, a support can be noted around 0.6439, an immediate trend line support. Another support may come near 0.6300, the psychological number and then 0.6186, a key horizontal support level which is likely to keep the price from falling below this level as demonstrated in the given below chart. The technical bias may remain bearish as long as 0.6871, the major horizontal resistance area remains intact.

United States Nonfarm Payrolls 

Non-farm payrolls in the United States increased by 201 thousand in August of 2018, as compared to 147 thousand in during the month before and above market expectations of 191 thousand. Employment increased in professional and business services, healthcare, wholesale trade, transportation and warehousing, and mining.

Non-Farm Payrolls in the United States averaged 126.88 Thousand from 1939 until 2018, reaching an all-time high of 1115 Thousand in September of 1983 and a record low of -834 Thousand in October of 1949. Generally speaking, increasing payrolls numbers indicates a bullish trend for the US Dollar (USD) whereas a decline in number suggests a bearish market for the US Dollar (USD).

Trade Idea

Considering the overall price behavior of the pair over the last couple of days, buying the NZDUSD around current levels can be a good decision in short to medium term.



http://bit.ly/2C0IrZC

Comments

Post a Comment

Popular posts from this blog

NZD/USD drops from weekly highs post-dismal ADP report, meanders around 0.6630s - FXStreet

-
Image
The NZD/USD snaps two consecutive days of gains, down 0.15%, amid a positive market mood. The US ADP employment report was dismal, though it barely influenced the US dollar. NZD/USD is downward biased, and failure to break above a downslope trendline opened the door for the YTD low. The New Zealand dollar climbs but retreats from weekly highs around 0.6662 after mixed than foreseen NZ jobs report released in the Asian session. At the time of writing, the NZD/USD is trading at 0.6637. The US ADP Employment report was ignored by investors as they prepare for Friday's NFP An hour and a half before Wall Street's opened, the ADP Jobs report was released. The figures were dismal, showing the losses of more than 301K employments when polled economists expected at least 207K private jobs added to the economy.  The ADP Chief Economist said that "The labor market recovery took a step back at the start of 2022 due to the effect of the Omicron va...
Read more

Position Sizer Expert Advisor for MT4/MT5 - EarnForex News

-
Image
Position Sizer (MetaTrader expert advisor) calculates how many lots to trade based on: Entry and stop-loss levels Risk tolerance Account size (balance, equity, or even your savings account) Account currency Currency exchange rates Its main features include: Works with any trading instruments — currency pairs, CFDs, equities, indices, commodities, futures, cryptocurrencies. Calculation inputs and results are displayed in a graphical panel. The panel can be moved freely across the chart. You can easily close or minimize it. All calculation parameters can be adjusted inside the panel in one or two mouse clicks. Entry, stop-loss, and take-profit lines can be dragged directly on the chart. You can choose to set stop-loss and take-profit as distance in points. Alternatively, you can set them as multiples of ATR (Average True Range). If a take-profit is given, the calculator shows the potential reward level and the risk-...
Read more

How the richest woman in the world—mocked as a 'miser' in the press—helped bail out New York City during the panic ... - Fortune

-
Image
Hetty Green is remembered as the "world's greatest miser" and the "Witch of Wall Street," but these days, Green would likely be seen as an eccentric investing icon. After all, while she became famous for her frugal nature and gruff exterior, Green pioneered value investing strategies that have made billionaires out of many of today's leading investors. And when the chips were down, when people really needed help, the whaling heiress turned independent investor, business tycoon, and world's wealthiest woman often used her fortune to save the day.  There's perhaps no better example of Green's misunderstood legacy than the knickerbocker crisis. Also known as the panic of 1907, the knickerbocker crisis is now largely forgotten, but the economic nightmare was burned into the memories of those who lived around the turn of the 20th century. It had somewhat complex origins, but the long and short of it is this: Wall Street greed turned u...
Read more