empty
 
 
01.07.2014 01:30 PM
EUR/NZD analysis for July 01, 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 sideways, around the price of 1.5640, we are still waiting for larger volume and price action. 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 is being tested). According to previous price action, we can observe a resisntace level at the price of 1.5645, so be careful with buying EUR/NZD at this stage.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1.5650

R2: 1.5677

R3: 1.5721

Support levels:

S1: 1.5562

S2: 1.5535

S3: 1.5491

Trading recommendation: Be careful with buying the EUR/NZD pair 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