S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico Market
Recommendation:
Trade: Long NZDUSD at market price Target: 0.5855, 0.5930 Stop: 0.5665
Opinion:
NZDUSD has been trading in a downward trend since the beginning of June, but the pair may be experiencing a trend reversal. Looking at the pair at the H4 interval, one can see that the price broke above the upper limit of the 1:1 structure which, according to the Overbalance strategy, may herald a resumption of an upward trend. As long as the price sits above 0.5720, the further upward move is the base case scenario. We recommend going long NZDUSD at market price with two targets: 0.5855, 0.5930. We also recommend placing a stop loss order at 0.5665.
Source: xStation
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