The UK, following a number of European countries, limits freedom of movement for three weeks in order to combat the spread of coronavirus. Residents of the kingdom will be able to leave their homes only to buy basic necessities, see a doctor and do individual sports. GBP/USD, 30 min Pivot: 1.1630
The price is below the moving average of 20 MA and MA 200, indicating the downward trend. MACD is below the zero levels. The oscillator Force Index is below the zero levels. If the level of support is broken, you shall follow the recommendations below: Timeframe: H4 Recommendation: Short Position Entry Level: Short Position 128.00 Take Profit Level: 110.00 (1800 pips) If the price rebound from the support level, you shall follow the recommendations below: Timeframe: H4 Recommendation: Long Position Entry Level:...
NZD/USD continues to be traded around historical lows, although the asset has already shown some consolidation area. This could mean that the medium-term downtrend is over and most likely that traders are starting to accumulate buy positions. NZD/USD, 30 min Pivot - 0.5670
The price above 200 MA, indicating a growing trend. The MACD histogram is above the zero lines. The oscillator Force Index is above the zero lines. If the level of resistance is broken, you should follow the recommendations below: Timeframe: H4 Recommendation: Long Position Entry Level: Long Position 51.50 Take Profit Level: 50.00 (150 pips) If the price rebound from resistance level, you should follow the recommendations below: Timeframe: H4 Recommendation: Short Position Entry Level: Short Position 58.30 Take...
NZD/USD is traded at historical lows, after OPEC deal break-up and negative economic statistics from China due to coronavirus consequences. New Zealand is the world's largest exporter of dried milk, and tourism is the main contributor to the country's economy. Large export volumes to China make NZD/USD sensitive to economic indicators from China. But the newly formed "Double Bottom" pattern may give a chance for the pair to grow. NZD/USD, 30 min Pivot - 0.5746
