Forex Technical Analysis of NZDUSD for June 08, 2015 | Forex Signals Market
Sunday, June 07, 2015

Forex Technical Analysis of NZDUSD for June 08, 2015

Support                            -   S1 : 0.6992 | S2 : 0.6942 | S3 : 0.6861
Resistance                       -   R1 : 0.7123 | R2 : 0.7205 | R3 : 0.7255
Main Trend                     -   Bearish
Intraday Trend              -   Bearish

Considering all the details from the charts of forex technical analysis we can detect all critical levels and trading targets for H1 and H4 timeframes: 


Forex Technical Analysis

4H Chart


The area 0.7094 – 0.7120 is a neutral zone.

Bullish scenario : If price moves upwards and close above the neutral zone, then the upward trading targets will be : 0.7160, 0.7200, 0.7250, 0.7280, 0.7335, 0.7370 .

Bearish scenario : If price remain below the neutral zone, then the downward trading targets will be : 0.7000, 0.6950, 0.6900, 0.6870 .



1H Chart


The area 0.7055 – 0.7065 is a neutral zone.

Bullish scenario : If price move upwards and close above the neutral zone, then the upward trading targets will be : 0.7088, 0.7100, 0.7123, 0.7143, 0.7163 .

Bearish scenario : If price remain below the neutral zone, then the downward trading targets will be : 0.7015, 0.7000, 0.6960, 0.6900 .

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

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