EUR/NZD: Analysis for June 04, 2013
June 4, 2013 12:45 pmVideo
Latest News
- Analysis of GBP/USD pair on May 28, 2024 May 28, 2024
- EUR/USD: What could stop the growth of the euro? A hypothesis May 28, 2024
- Inflation expectations in eurozone downgraded May 28, 2024
- Trading Signals for BITCOIN (BTC/USD) for May 28-30, 2024: sell below $69,000 (21 SMA – 200 EMA) May 28, 2024
- Technical Analysis – EURUSD sets sight on 1.0900 handle May 28, 2024
- GBP/USD: Simple trading tips for novice traders on May 28th (US Session) May 28, 2024
- EUR/USD: Simple trading tips for novice traders on May 28th (US session) May 28, 2024
- GBP/USD: trading plan for the US session on May 28th (analysis of morning deals). The pound hit a new monthly high May 28, 2024
- EUR/USD: trading plan for the US session on May 28th (analysis of morning deals) May 28, 2024
- USD/JPY: trading tips for beginners for European session on May 28 May 28, 2024
- Forex forecast 05/28/2024: EUR/USD, USD/JPY, Gold, Ethereum and Bitcoin from Sebastian Seliga May 28, 2024
- EUR/USD. May 28th. The bulls intend to reach the level of 1.1000 May 28, 2024
- Trading plan for EUR/USD on May 28. Simple tips for beginners May 28, 2024
- GBP/USD. May 28th. The pound sees no reason to stop at its current level May 28, 2024
- USD/JPY: Simple trading tips for novice traders on May 28th. Analysis of yesterday’s forex transactions May 28, 2024
- Video market update for May 28, 2024 May 28, 2024
- GBP/USD: Simple trading tips for novice traders on May 28th. Analysis of yesterday’s forex transactions May 28, 2024
- EUR/USD: Simple trading tips for novice traders on May 28th. Analysis of yesterday’s forex transactions May 28, 2024
- Low volatility across the board besides Bitcoin – Volatility Watch May 28, 2024
- Technical Analysis – EURCHF pulls back from 14-month peak May 28, 2024
Overview:
Since our last analysis the EUR/NZD pair has been trading in downward moves like we expected, we got our first target level at price 1.6200. Just after testing of level 1.6120 the price rejected and made corrective move and tested level 1.6330. On the daily chart we got two climatic bars (ultra high volume bars) which is strong sign that EUR/NZD is in overbought zone, so we may expect future down and starting of larger corrective phase on EUR/NZD. On the (4H) chart I calculated previous up legs and i got that first up leg has 22,000 of total volume and second leg has 12,800 of total volume which is decreasing of about 41%. I placed Fibonacci expansion levels and I got targets at price 1.6185 (FE 61.8 %) and price 1.6090 (FE 100 %). Selling EUR/NZD around area 1.6270 looks very attractive and my advice is to look for selling opportunities.
Daily pivot Fibonacci points:
Resistance levels:
R1 : 1.6311
R2 : 1.6368
R3 : 1.6461
Support levels:
S1 : 1.6124
S2 : 1.6067
S3 : 1.5973
Trading recommendation: Be careful with short-term buying and look for selling opportunities. I recommend 1.6185 and 1.6090 for down targets.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: