Since our last analysis the EUR/NZD pair has been trading in upward moves like we expected, we got our first intraday target level at price 1.6865. Next up station, according to daily time frame, is FE 361.8% at price 1.7150. The price made new high on ultra high volume which is a sign that selling this pair looks very risky. Current situation on (1H) time frame is that price rejected very well from our FE 161.8% at price 1.6702 and after that it made new high at 1.7057. Selling this pair looks risky so I advise you watch for buying opportunities after down corrections.
Daily pivot Fibonacci points:
Resistance levels:
R1 : 1.6842
R2 : 1.6883
R3 : 1.6951
Support levels:
S1 : 1.6707
S2 : 1.6666
S3 : 1.6599
Trading recommendation: Be careful with short-term selling and look for buying opportunities. I recommend 1.7150 for up target.
The material has been provided by InstaForex Company – www.instaforex.com
Overview:
Since our last analysis the EUR/NZD pair has been trading in upward moves like we expected, we got our first intraday target level at price 1.6865. Next up station, according to daily time frame, is FE 361.8% at price 1.7150. The price made new high on ultra high volume which is a sign that selling this pair looks very risky. Current situation on (1H) time frame is that price rejected very well from our FE 161.8% at price 1.6702 and after that it made new high at 1.7057. Selling this pair looks risky so I advise you watch for buying opportunities after down corrections.
Daily pivot Fibonacci points:
Resistance levels:
R1 : 1.6842
R2 : 1.6883
R3 : 1.6951
Support levels:
S1 : 1.6707
S2 : 1.6666
S3 : 1.6599
Trading recommendation: Be careful with short-term selling and look for buying opportunities. I recommend 1.7150 for up target.
The material has been provided by InstaForex Company – www.instaforex.com
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