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NZD/USD : Horizontal channel between 0.83 and 0.8463


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#1 ⇑ Haut ⇑ 13-02-2013 09:22:06

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NZD/USD : Horizontal channel between 0.83 and 0.8463

Since January 7th, the pair NZD/USD moves in a large horizontal channel between the major support at 0.83 and the major resistance at 0.8463. Earlier this week, the price has once again bounced off on the lower limit of the channel and a buy signal was given by the break of 0.8395. On the medium term, the price is out of its bearish channel (black lines).

We recommend to trade only long positions as far as 0.8350 is support. The break of the minor support at 0.8433 will give a new buy signal and would allow the price to test again the upper limit of the horizontal channel at 0.8463. The breakout of this level will probably cause a further upward acceleration.

In case of return below 0.8350, we will be neutral between this level and 0.83. Only the break of this last level would mark a trend reversal to the downside.

NZD/USD 1h chart
http://www.tribuforex.fr/analyses/FOREX/nzdusd-13022013-2.png

NZD/USD 4h chart
http://www.tribuforex.fr/analyses/FOREX/nzdusd-13022013.png







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#2 ⇑ Haut ⇑ 14-02-2013 09:13:23

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Re: NZD/USD : Horizontal channel between 0.83 and 0.8463

The pair NZD/USD made an output this morning of its horizontal channel  0.83/0.8463 in which the pair evolved since the beginning of the year. The break of the resistance at 0.8463 ga us a new strong buy signal and release a high upside potential. On the short term, this movement made appear a bullish slant (blue line in h1).

We continue to advise long positions as far as 0.8395 is support. This level corresponds to the medium-term bullish slant (black line). The resistance at 0.85 should be crossed quickly to allow the price to test the resistance dating from the end of August 2011 at 0.8550.

On the short term, the break of the bullish slant and a return below 0.8350 would probably lead the price for a pullback on 0.8395. If this level is broken, we will be neutral between 0.8350 and 0.8395.

NZD/USD 1h chart
http://www.tribuforex.fr/analyses/FOREX/nzdusd-14022013-2.png

NZD/USD 4h chart
http://www.tribuforex.fr/analyses/FOREX/nzdusd-14022013.png




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#3 ⇑ Haut ⇑ 20-02-2013 09:03:05

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Re: NZD/USD : Horizontal channel between 0.83 and 0.8463

The pair NZD/USD has failed to extend its bullish trend beyond 0.8517. A powerful movement of correction occurred and the price is now back in our old horizontal channel between 0.83 and 0.8463. The pair is also close to its medium term bullish slant (black line) forming an ascending triangle.

We continue to advise long positions as far as 0.8395 is support (currently tested) . This level corresponds to the  medium term bullish slant. A return above 0.8463 will mark the output of the short-term bearish channel (blue line) and the resumption of the uptrend. We will then target a retest of the resistance at 0.8517.

In case of return below 0.8350, we will be neutral between this level and 0.8350. A break of this level would give a sell signal towards 0.83.

NZD/USD 1h chart
http://www.tribuforex.fr/analyses/FOREX/nzdusd-20022013-2.png

NZD/USD 4h chart
http://www.tribuforex.fr/analyses/FOREX/nzdusd-20022013.png




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#4 ⇑ Haut ⇑ 25-02-2013 09:13:23

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Re: NZD/USD : Horizontal channel between 0.83 and 0.8463

After the false exit from the top of the horizontal channel between 0.83 and 0.8463 in mid February, the pair NZD/USD has finally made ​​a return to the lower band. Currently, the price evolves in a neutral zone between 0.8339 and 0.8394. This last correction movement led to the breakout of the medium term bullish slant (black line), which was giving support since the beginning of the year. In the short term, the price is still moving in a bearish channel (blue lines).

We advise to wait an exit of the range 0.8339/0.8394 to take position:
- Long in case of return above 0.8394. This would mark a return above the bullish slant. A new test of the upper limit of the horizontal channel to 0.8463 would be expected.

- Short if 0.8339 is broken. This would definitely validate the break of the bullish slant. The price should then test the support at 0.83. The break of this level would indicate the return of a downtrend.

NZD/USD 1h chart
http://www.tribuforex.fr/analyses/FOREX/nzdusd-25022013-2.png

NZD/USD 4h chart
http://www.tribuforex.fr/analyses/FOREX/nzdusd-25022013.png




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    NZD/USD : Horizontal channel between 0.83 and 0.8463



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