EUR/NZD: analysis for December 11, 2013
December 11, 2013 2:15 pmVideo
Latest News
- Trading Signals for GOLD (XAU/USD) for May 1-2, 2024: buy above $2,290 (21 SMA – 4/8 Murray) May 1, 2024
- Technical Analysis – US 500 index might hit lower levels after Tuesday’s slump May 1, 2024
- Technical Analysis – NZDUSD falls back towards 5-month low May 1, 2024
- Technical Analysis – USDJPY erases losses, but risks remain May 1, 2024
- Video market update for May 01, 2024 May 1, 2024
- What do Q1 earnings hold for Disney’s stock? – Stock Markets May 1, 2024
- Will the post-FOMC jobs report move the dollar? – Preview May 1, 2024
- Forex forecast 05/01/2024: EUR/USD, GBP/USD, USD/JPY, SP500 and Oil from Sebastian Seliga May 1, 2024
- Market Comment – Dollar enjoys a bid; stocks concerned about a hawkish Fed May 1, 2024
- Technical Analysis – Gold seeks safety after Tuesday’s drop May 1, 2024
- Technical Analysis – USDJPY stabilizes a tad below 160.00 May 1, 2024
- Video market update for April 30, 2024 April 30, 2024
- Analysis of the EUR/USD pair on April 30, 2024 April 30, 2024
- Analysis of the GBP/USD pair on April 30th. Last chance for the dollar April 30, 2024
- GBP/USD: Simple trading tips for novice traders for April 30th (US session) April 30, 2024
- EUR/USD: Simple trading tips for novice traders for April 30th (US session) April 30, 2024
- GBP/USD: trading plan for the US session on April 30th (analysis of morning deals). The pound is kept within the side channel April 30, 2024
- Could Monday’s intervention turn the tide for the yen? – Special Report April 30, 2024
- EUR/USD: trading plan for the US session on April 30th (analysis of morning deals). The euro is trying to end the month on April 30, 2024
- Trading Signals for Bitcoin (BTC/USD) for April 30 – May 7, 2024: sell below $62,500 (21 SMA – 4/8 Murray) April 30, 2024
Overview:
Since our last analysis, the EUR/NZD pair has been trading upwards, as we expected, the price tested level of 1.6677 on volume above the average. We are still waiting for further bullish movement and the testing of 1.7000. Since our FR 38.2% has held, the level of 1.6480 is the possible end of the bearish corrective phase. I have placed Fibonacci expansion levels to find potential upper station and I got FE 61.8% at 1.7000 like the first possible station. According to the 4H chart, we have got large selling climax at 1.6500, which was, in my opinion, panic selling, so we may expect bullish movement. Anyway, if price breaks previous low area at 1.6440, we may see the testing of 1.6355 (FE 100 %), before we continue with bullish momentum. Since we are in the uptrend, according to the daily chart, my advice is to watch for buying opportunities.
Daily pivot Fibonacci points:
Resistance levels:
R1: 1.6606
R2: 1.6631
R3: 1.6671
Support levels:
S1: 1.6526
S2: 1.6501
S3: 1.6461
Trading recommendation: Be careful with selling EUR/NZD and watch for buying opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: