Sunday, 22 May 2016

Forex Technical Analysis of NZDJPY for November 02 (updated) - forex trading system software

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Forex Technical Analysis of NZDJPY for November 02 (updated) ~ forex trading system software


Support                              -   S1 : 81.046 | S2 : 80.468 | S3 : 80.027
Resistance                          -   R1 : 82.065 | R2 : 82.506 | R3 : 83.084
Main Trend                       -   Bullish
Intraday Trend                 -   Bullish

On 4H chart of forex technical analysis, you can easily observe that the price after forming a local double bottom at level 80.233 proceed to a reaction and close above EMA(50). The price is moving within the lower channel of Andrew's Pitchfork. EMA(50) and EMA(200) have upward crossed between them.

Considering all the details from the charts of forex technical analysis we can detect all critical levels and trading targets for H1 and H4 timeframes:

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