Home Technical Updates Fundamental Updates Commentaries Education Calendar Video Charts Live Events About Glossary
Recent Stories
View All
fxtimes

Most Read (last 72 hours)
View All
register, it's free »

NZD/USD Confirming Breakout with Sight on 0.8354

\ 10:04 AM EDT \ November 6th, 2012
avatar

Forex Technical Update

Previous: NZD/USD Monitoring Throwback after Triangle Breakout (11/5)

NZD/USD 4H Chart 9:08AM EST 11/5/2012

NZD/USD 11/6/2012 4H chart

Throwback: The NZD/USD broke above a triangle and the 0.8240 resistance last week, but was in a throwback. The 4H chart shows that the market is confirming the breakout to the upside, and establishing a bullish outlook. the RSI kissing 70, and staying above 40, and even 50, has been a sign of persistent bullish momentum development. As we clear a new high above 0.8280, NZD/USD has focus on the next resistance.

Above 0.8355, the market opens up the 0.84 handle as well as the 0.8470 2012-high.

Fan Yang CMT is a forex trader, analyst, educator and Chief Technical Strategist for FXTimes – provider of Forex News, Analysis, Education, Videos, Charts, and other trading resources.

Information and opinions contained in this report are for educational purposes only and do not constitute an investment advice. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness. FXTimes will not accept liability for any loss of profit or damage which may arise directly, indirectly or consequently from use of or reliance on the trading set-ups or any accompanying chart analysis.

Related Posts

Please login to comment. Dont have an account? Register

 

You need to log in to vote

The blog owner requires users to be logged in to be able to vote for this post.

Alternatively, if you do not have an account yet you can create one here.

Powered by Vote It Up

Home Technical Updates Fundamental Updates Commentaries Education Calendar Video Charts Live Events About Glossary

Information and opinions contained on this page are for educational purposes only and do not constitute trading recommendations.

Trading OTC Forex on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange or futures you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange and futures trading, and seek advice from an independent financial advisor if you have any doubts.

© 2013 Market Access Media, LLC. All rights reserved.