EUR/NZD : analysis for December 09, 2015
December 9, 2015 3:40 pmVideo
Latest News
- 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
- USA and Europe: market trends during the holidays May 28, 2024
- Market Comment – Euro takes advantage of weak dollar May 28, 2024
Overview:
Recently, EUR/NZD has been moving upwards. As I had expected, the price tested the level of 1.6571 in a high volume. According to the H1 time frame, we can observe strong resistance cluster at the level of 1.6570 (currently on the test). I placed Fibonacci expansion to find potential profit targets. First profit target has been reached at 1.6480 (Fibonacci expansion 61.8%) and second is at 1.6745 (Fibonacci expansion 100%.) is still in the play. Watch for RBNZ decision today and then act according to price action. Watch for potential buying opportunities on dips.The short-term trend has changed from downward to upward.
Fibonacci Pivot Points :
Resistance levels:
R1: 1.6445
R2: 1.6490
R3: 1.6550
Support levels:
S1: 1.6315
S2: 1.6275
S3: 1.6210
Trading recommendations : Buying EUR/NZD at this stage looks very risky since the price testing major resistance cluster. Watch for potential buying opportunities after potential breakout of our resistance.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: