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[QUOTE="AlexanderLiteForex, post: 48465, member: 22090"] [b]NZDUSD: pair will continue to rise[/b] [b] 1. Current trend[/b] The pair NZDUSD has started this week with a growth and hit two-month maximum at 0.8010 on Tuesday. This level corresponding to the upper border of the ascending channel hasn’t been broken through. The price is being corrected now due to the unfavorable date on China manufacturing index. Its rate in July is 47,7 points, but the experts expected it to be 48,6 points. [b]2. Support and resistance; entry/exit points[/b] Regardless sudden downward correction “bullish” movement is most probable today. The price may rise up to 0.8010, 0.8050 and even 0.8100 levels. We recommend to open long trades at 0.7990 with Take profits at 0.8100. [b] 3. Technical indicators[/b] On the four-hour chart Bollinger Bands do not show any important divergence and are directed upwards. Upper line of the indicator corresponds to the border of an uprising channel. Price chart can’t break through MA which is also a support level. MACD histogram is in overbought zone and has crossed the signal line from above. It can be a sigh of temporary fall but not the reverse of the trend. Stocahstic lines have crossed giving a signal to short-term sell. [img]http://www.liteforex.com/uploads/other/1fdb5c8f2cfa4a20f6cbe64622aa5d3f.png[/img] [i]Dmitriy Zolotov Analyst of LiteForex Group of Companies[/i] [/QUOTE]
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