EUR/NZD: analysis for December 31, 2013
December 31, 2013 12:45 pmVideo
Latest News
- Trading Signals for GOLD (XAU/USD) for April 19-22, 2024: sell below $2,395 (+2/8 Murray – overbought) April 19, 2024
- USD/JPY: Simple Trading tips for novice traders on April 19th (US session) April 19, 2024
- GBP/USD: Simple trading tips for novice traders on April 19th (US session) April 19, 2024
- EUR/USD: Simple trading tips for novice traders on April 19th (US session) April 19, 2024
- GBP/USD: trading plan for the US session on April 19th (analysis of morning deals). The pound is trying to regain its advantage April 19, 2024
- EUR/USD: trading plan for the US session on April 19th (analysis of morning deals). The euro compensated for the losses April 19, 2024
- Storm in a teacup: EUR/USD analysis April 19, 2024
- Video market update for April 19, 2024 April 19, 2024
- Eurozone PMIs eyed as euro’s focus turns to rate cuts beyond June – Preview April 19, 2024
- Technical Analysis – NZDUSD falls to fresh 5-month low April 19, 2024
- EUR/USD. April 19th. Bostic, Fed: the rate cut will happen at the end of the year April 19, 2024
- Forecast for GBP/USD pair on April 19, 2024 April 19, 2024
- Weekly Forex Outlook: 14/04/2024 – US GDP and BoJ decision on top of next week’s agenda April 19, 2024
- Market Comment – Safe havens jump as Israel retaliates against Iran April 19, 2024
- Technical Analysis – USDCAD puts rally on hold near 1.3800 caution zone April 19, 2024
- USD/JPY: trading tips for beginners for European session on April 19 April 19, 2024
- GBP/USD: trading tips for beginners for European session on April 19 April 19, 2024
- EUR/USD: trading tips for beginners for European session on April 19 April 19, 2024
- Supercharged US dollar turns to GDP growth data – Preview April 19, 2024
- Technical Analysis – USDCHF remains in bullish structure April 19, 2024
Overview:
Since our last analysis, the EUR/NZD pair has been trading
downwards, the price reached level of 1.6736 (met FE 100 %) on volume above the
average. As you can see from the chart, price rejected from level of 1.6990 and
tested 1.6736 (bearish corrective phase in progress).I placed Fibonacci
expansion levels to find potential end of bearish corrective phase and i got FE
100 % at 1.6746 and and FE 161.8 % at price 1.6633 . According to the 30-min
chart we can observe average volume on lower legs, which is good sign that we
may see bullish continuiation.Price may test again previous swing highs at 1.6920
and 1.6990.Be careful with selling this pair and watch for buying opportunities
after bearish correction.
Daily pivot Fibonacci points:
Resistance levels:
R1: 1.6896
R2: 1.6926
R3: 1.6973
Support levels:
S1: 1.6801
S2: 1.6771
S3: 1.6723
Trading recommendation: Be careful with selling the EUR/NZD
pair and watch for buying opportunities after correction.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: