Nzd/Usd

Nzd/usd technical analysis for 16.10.2012 by using : Auto pivot indicator.

resistance 3:0.8283
resistance 2:0.8242
resistance 1:0.8213

pivot point :0.8172

support 1:0.8143
support 2:0.8102
support 3:0.8073

NZDUSD bias remains bearish with the price still move inside the triangle area channel as you can see on my chart below

Spoiler:

http://i48.tinypic.com/11j3y2f.jpg

risk reward is good for short term trading is done in the lower channel BUY with a target located at the upper limit of channel ...

but remains wary of the breakout to the bottom where the bearish pattern has been formed, and at times major bearish movement may occur to test the support level at 0.8080

Expected trading range for today is between: Support 0.8095 and resistance 0.8300
General tendency is expected for the day: UP

http://i49.tinypic.com/sv0843.gif

The short term trend of the pair is to the upside. Intraday trading range of the pair is expected among key support at 0.8040 and key resistance at 0.8310. Based upon my chart analysis, I prefer to stay aside from the pair until we get a confirm setup for the upcoming big move.

the pair pressure negatively to break the barrier of SMA 50 temporarily in an attempt to visit the support for the ascending channel around 0.8095, and as we pointed out in the morning, the stability above this level keeps the positive scenario based stochastic supported.

The trading range for today is expected among the key support at 0.8040 and resistance at 0.8310.
The short term trend is to the upside targeting 0.8400 with steady daily closing above 0.7930.

Noticeable as the pair is moving at 200, from her once again took the southern retreat, now in a tight course came to the support of 8133 which prevents further decline, waiting breakout of this level.

If we analyze the daily chart, we can see that the pair is slowly coming to the long sloping lines of support, I think that it will resume from the northern growth, as the reduction is not confident, bears weak.

NZDUSD=X stock chart on Yahoo! Finance. Change the date range, chart type and compare NZD/USD against other companies.

NZD/USD
BUY
Entry :- 0.81540
TP1 :- 0.82015
TP2 :- 0.82490
SL :- 0.80595

Note this is just my attempt to predict the price could be right or wrong stop-loss order is very important must put always follow the trend