empty
 
 
14.05.2014 02:18 PM
EUR/NZD analysis for May 14, 2014

This image is no longer relevant

This image is no longer relevant

Overview:

Since our previous analysis, the EUR/NZD pair has been trading downwards, as we expected, the price tested the level of 1.5811 on volume above the average according to the daily chart. We can observe supply bar on volume above the average according to the 1H timeframe, which is a sign that we may see more bearish movements. Our Fibonacci retracement 61.8% at the price of 1.6122 held successfully and that caused price to go down. The price tested our second support level at 1.5830 and if the price breaks that level on higher volume, we may see testing the level of 1.5765. Be careful with buying and watch for selling opportunities after retracement.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1.5943

R2: 1.5976

R3: 1.6029

Support levels:

S1: 1.5837

S2 : 1.5804

S3: 1.5751

Trading recommendation: Be careful with buying the EUR/NZD and watch for selling opportunities after retracement.

Summary
Urgency
Analytic
Petar Jacimovic
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback