Since our last analysis, the EUR/NZD pair has been trading upwards, the price broke the previous high at 1.6510, tested 1.6681on high volume and started the major bullish continuation earlier that we had planed. I placed Fibonacci and I got FR 61.8% at the price of 1.6800. I also calculated volume in the legs and I got increasing in volume of 2% on the previous upper leg. Since we are in the uptrend, according to the daily chart, my advise is to watch for buying opportunities.
Daily pivot Fibonacci points:
R1: 1.6689
R2: 1.6732
R3: 1.6803
Support levels:
S1: 1.6547
S2: 1.6504
S3: 1.6433
Trading recommendation: Be careful with selling since EUR/NZD has started bullish continuation, and we may see the testing of the level of 1.6800.
The material has been provided by InstaForex Company – www.instaforex.com
Overview:
Since our last analysis, the EUR/NZD pair has been trading upwards, the price broke the previous high at 1.6510, tested 1.6681on high volume and started the major bullish continuation earlier that we had planed. I placed Fibonacci and I got FR 61.8% at the price of 1.6800. I also calculated volume in the legs and I got increasing in volume of 2% on the previous upper leg. Since we are in the uptrend, according to the daily chart, my advise is to watch for buying opportunities.
Daily pivot Fibonacci points:
R1: 1.6689
R2: 1.6732
R3: 1.6803
Support levels:
S1: 1.6547
S2: 1.6504
S3: 1.6433
Trading recommendation: Be careful with selling since EUR/NZD has started bullish continuation, and we may see the testing of the level of 1.6800.
The material has been provided by InstaForex Company – www.instaforex.com
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