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[QUOTE="Antony_NPBFX, post: 195676, member: 38727"] [size=5][b]NZD/USD: the instrument is waiting for new drivers 24.05.2021 [/b][/size] Good afternoon, dear forum visitors! [url=https://www.tb.marketinstructor.com/?referer1=earnforex.com] NPBFX[/url] offers the latest release of analytics on NZD/USD for a better understanding of the current market situation and more efficient trading. [b] Current trend [/b] NZD is showing ambiguous performance against USD during today's morning session, building on the flat trend that has emerged in recent days. Today, NZD is receiving little support from strong macroeconomic statistics from New Zealand. Meanwhile, retail sales in Q1 2021 showed solid 2.5% QoQ growth after a 2.7% QoQ decline last month. Analysts had expected the negative dynamics to worsen to –4.4% QoQ. Retail Sales excluding Autos for the same period accelerated from +4.8% QoQ to +6.8% QoQ, significantly outperforming the projected +1.9% QoQ. Market activity remains subdued as investors expect new drivers to emerge. One of such events will be the meeting of the Reserve Bank of New Zealand on interest rates, which will be held on Wednesday, May 26. Analysts do not expect changes in the vector of monetary policy, but comments from officials will continue to be important. [b] Support and resistance [/b] Bollinger Bands in D1 chart demonstrate flat dynamics. The price range is almost unchanged, but it remains rather spacious for the current level of activity in the market. MACD is going down, keeping a fairly stable sell signal (located below the signal line). Stochastic, having approached the level of "20", reversed into a horizontal plane, indicating the risks of oversold instrument in the ultra-short term. Resistance levels: 0.7200, 0.7250, 0.7305, 0.7350. Support levels: 0.7150, 0.7100, 0.7050, 0.7000. [img]http://businesspr-finance.com/wp-content/uploads/2021/05/NZDUSD240521-33.png[/img] [img]http://businesspr-finance.com/wp-content/uploads/2021/05/NZDUSD240521-333.png[/img] [b] Trading tips [/b] To open long positions, one can rely on the rebound from the support level of 0.7150 with the subsequent breakout of 0.7200. Take-profit – 0.7250. Stop-loss – 0.7175. Implementation time: 2-3 days. The breakdown of 0.7150 may serve as a signal to new sales with the target at 0.7100. Stop-loss – 0.7180. [b]Use more opportunities of the NPBFX analytical portal: glossary[/b] Beginning traders certainly face a lot of specialized concepts and lexicon on FOREX, which are often not fully been understood. Swap, tick, hedge, margin calls are often unfamiliar to beginning traders. But the lack of knowledge of these fundamentals make a competent market vision impossible. So glossary on the NPBFX analytical portal could be an excellent helper in this case, which contains all the main definitions with explanations in a compact and accessible form. All concepts are arranged in alphabetical order, so that you can easily and quickly find and explore a new concept for yourself. If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist. Use the current recommendations of analysts on NZD/USD and trade efficiently with [url=https://my.npbfx.com/register/?utm_campaign=register&utm_medium=forumpost&utm_source=earnforex.com]NPBFX[/url]. [/QUOTE]
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