empty
26.10.2022 11:39 AM
NZDUSD Potential for Bullish Rise | 26th October 2022

This image is no longer relevant

On the H4 chart, as the price is testing the descending trendline and the price is above ichimoku cloud, we have a bullish bias that the price may rise to the 1st resistance at 0.58022, which is in line with the 100% fibonacci projection and previous swing high. If the 1st resistance is broken, the 2nd resistance is at 0.59963, where the overlap resistance and 50% fibonacci retracement are. Alternatively, the price may drop to the 1st support at 0.56334, where the previous swing low and 61.8% fibonacci retracement are.

Trading Recommendation

Entry: 0.58022

Reason for Entry: 100% fibonacci projection and previous swing high

Take Profit: 0.59963

Reason for Take Profit:

Overlap resistance and 50% fibonacci retracement

Stop Loss: 0.56334

Reason for Stop Loss:

Previous swing low and 61.8% fibonacci retracement

Dean Leo,
Analytical expert of InstaForex
© 2007-2024
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

EUR/USD Forecast for December 30, 2024

As the New Year approaches, the currency market remains relatively stable, although there are signs of a potential strong dollar rally across all financial markets. One key indicator

Laurie Bailey 04:09 2024-12-30 UTC+2

GBP/USD Forecast for December 30, 2024

On the daily chart, the price has slightly rebounded from the 1.2510 support level. This bounce represents the price's development within the consolidation range of 1.2510-1.2616. Friday's movement allowed

Laurie Bailey 04:09 2024-12-30 UTC+2

USD/JPY Forecast for December 30, 2024

The USD/JPY pair has settled within the 157.72-158.32 range. The Marlin oscillator is turning downward. These technical indicators, especially given the decline in stock indices, suggest a possible reversal toward

Laurie Bailey 04:09 2024-12-30 UTC+2

Gold - Technical Analysis of the Situation

The holiday season continues to impact the market, balancing opportunities and participant activity. Over the past week, the price range has been narrow. Current support is established at the weekly

Evangelos Poulakis 00:23 2024-12-30 UTC+2

XAU/USD: Gold Prices to Continue Trading in a Sideways Range

Gold prices, after reaching a local high at the end of October due to widespread geopolitical risks in the Middle East and Ukraine, have significantly corrected downward and are currently

Pati Gani 10:53 2024-12-27 UTC+2

EUR/USD: December 27th. The Euro Hopes for a New Year Miracle

On Thursday, the EUR/USD pair returned to the 1.0420 level, and today it has consolidated above it. Despite the very low trading activity, the pair is not completely stagnant. However

Samir Klishi 10:51 2024-12-27 UTC+2

GBP/USD: December 27th. The Pound Lacks Trader Interest

On the hourly chart, the GBP/USD pair continued its sluggish decline toward the 1.2488 level on Thursday. However, this level was not reached, and the movement can barely be called

Samir Klishi 10:17 2024-12-27 UTC+2

Video analysis for December 27, 2024

Potential for the further drop on BTC/USD

Petar Jacimovic 09:32 2024-12-27 UTC+2

Forex forecast 27/12/2024: EUR/USD, USD/JPY, Oil and Bitcoin

Video Agenda: 00:00 INTRO 00:13 Totay's key events: Crude Oil Inventories, Goods Trade Balance, Retail Inventories Ex Auto, U.S. Baker Hughes Oil Rig Count 01:40 EUR/USD 03:04 OIL 06:46 USD/JPY

Sebastian Seliga 09:21 2024-12-27 UTC+2

Trading Signals for GBP/USD for December 27-30, 2024: buy above 1.2540 (21 SMA - symmetrical triangle)

The level we should pay attention to is the 1.2540 zone. The signal will be positive above this zone and we will buy the GBP/USD pair with the target

Dimitrios Zappas 05:22 2024-12-27 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.