NZD/USD Trading Recommendations for 28th July 2016

Source: Forex Analysis

Price has almost reached our profit target since yesterday. Today we play a bigger rise up to 0.7207 which is the inverse head and shoulder bullish exit potential. Our first take profit level would be 0.7178 which is a fibonacci retracement level to be wary of.

We can see that RSI is holding well above our ascending support line which supports this bullish rise we’re expecting.

analytics5799a0a44c366.png

Trading Recommendations :

Buy at 0.7075 pullback or above it

Stop loss at 0.7015

Take profit at 0.7178

Take final profit at 0.7207

The material has been provided by InstaForex Company – www.instaforex.com