Forex Technical Analysis of NZDUSD for March 09, 2015 | Forex Signals Market
Monday, March 09, 2015

Forex Technical Analysis of NZDUSD for March 09, 2015

Resistance       -  R1 : 0.7465 | R2 : 0.7569 | R3 : 0.7624
Support             -  S1 : 0.7307 | S2 : 0.7252 | S3 : 0.7149
Trend                 -  Bearish
Recommended position  - Short


Financial Announcements
EUR - All Day - Eurogroup Meetings

From the charts of forex technical analysis for the exchange rate NZDUSD observe to the daily chart that the price failed to break resistance of the EMA (50) and returned in downward trend. Also is moved on upper channel of a falling Andrews Pitchfork.


In the 4H chart we observe that the price is below the EMA (50) and EMA (200) by approaching levels of support.
At the same time there is downward cross between the EMA (50) and EMA (200).
On the 1H chart is obvious the accumulation of price to the lowest levels of the day. Also is obvious the downward cross between the EMA (50) and EMA (200).

Applying the rules of forex technical analysis all critical levels and forex trading targets for Monday 09 March, are as follows :

Forex Technical Analysis
4H Chart


The area 0.7455 - 0.7483 is a neutral zone.

Bullish scenario : If the price move upwards and close above the neutral zone, then the upward trading targets will be: 0.7510, 0.7538, 0.7565, 0.7608.

Bearish scenario : If price continue to move below the neutral zone, then the downward trading targets will be: 0.7335, 0.7312, 0.7282, 0.7253.

1H Chart


The area 0.7383 - 0.7395 is a neutral zone.

Bullish scenario : If the price move upwards and close above the neutral zone, then the upward trading targets will be: 0.7430, 0.7450, 0.7480.

Bearish scenario : If the price move downwards and close below the neutral zone, then the downward trading targets will be: 0.7335, 0.7312, 0.7282, 0.7253.

Our personal forex trading strategy is to remain sellers, and if the price moved in the area 0.7410 - 0.7435 to open further short positions.

Using the above elements of technical analysis forex (forex technical analysis), everyone can plan his own personal forex trading strategy . We note the need to use levels stop loss.


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