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30.06.2014 03:59 PM
EUR/NZD analysis for June 30, 2014

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Overview:

Since our previous analysis, the EUR/NZD pair has been trading upwards, the price tested the level of 1.5631 on ultra high volume (buying climax) according to the 4H chart. Since our Fibonacci expansion 100% at the price of 1.5665 has got broken, we may see possible testing the level of 1.5335. According to previous price action, I have placed Fibonacci retracement levels to find potential resisntace levels and I have got Fibonacci retracement 61.8% at the price of 1.5615 (currently on test). Right now price is in bullish corrective phase so watch for selling opportunities after retracement.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1.5565

R2: 1.5587

R3: 1.5621

Support levels:

S1: 1.5497

S2: 1.5475

S3: 1.5441

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

Summary
Urgency
Analytic
Petar Jacimovic
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