Since our last analysis, the EUR/NZD pair has been trading upward movement, as like we expected, price tested level of 1.6526 on average volume .As you can see on the 1H chart, price has been break our FE 38.2 % at 1.6500, so we may expect testing of next Fibonacci 61.8 % around the price of 1.6570.We can also observe selling climax at 1.6395 which got absorbed . Since our FE 161.8 % is held successfully, selling EUR/NZD looks very risky.Selling looks risky so watch for buying opportunities.
Daily pivot Fibonacci points:
Resistance levels:
R1: 1.6504
R2: 1.6530
R3: 1.6571
Support levels:
S1: 1.6421
S2: 1.6395
S3: 1.6353
Trading recommendation: Be careful with selling the EUR/NZD pair and watch for buying opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
Overview:
Since our last analysis, the EUR/NZD pair has been trading
upward movement, as like we expected, price tested level of 1.6526 on average
volume .As you can see on the 1H chart, price has been break our FE 38.2 % at
1.6500, so we may expect testing of next Fibonacci 61.8 % around the price of
1.6570.We can also observe selling climax at 1.6395 which got absorbed . Since
our FE 161.8 % is held successfully, selling EUR/NZD looks very risky.Selling
looks risky so watch for buying opportunities.
Daily pivot Fibonacci points:
Resistance levels:
R1: 1.6504
R2: 1.6530
R3: 1.6571
Support levels:
S1: 1.6421
S2: 1.6395
S3: 1.6353
Trading recommendation: Be careful with selling the
EUR/NZD pair and watch for buying opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
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