Leonid graduated from Donetsk National Technical University, specialization "Automation and process control". He came to the market five years ago. As a basis of trade he uses indicator «Murray levels» , also prefers the classical technical analysis.

NZD/USD: new testing of 0.6836

Leonid Varfolommev

There was no STD1 rebound, and the intersection of STH1 and STD1 happened. The stop at the level 4/8 (0.6836), from which the pair has repeatedly bounced, signals a return to the area of merger of STD1 with the level 5/8 (0.6897). In the event of a significant breakdown of 5/8, the price will be able to test the mark at the level 6/8 (0.6958). The scenario with a further decline to the level of 3/8 (0.6775) is unlikely, as STD1 still has a bullish colour. 

Trade Recommendation: 

Buy – 0.6830; sl – 0.6770; tp – 0.6910.

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