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25.08.2014 04:03 PM
EUR/NZD analysis for August 25, 2014

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Overview:

Since our last analysis, EUR/NZD has been trading upwards. The price tested the level of 1.5826 in an ultra high volume (buying climax) according to the 4H timeframe, which is a sign that buying looks very risky. It is still unsafe for any buying, so watch for potential selling opportunities after retracement. If the price breaks the level of 1.5710 in a higher volume, we may see potential testing the level of 1.5595.

Fibonacci pivot levels :

Resistance levels:

R1: 1.5807

R2: 1.5829

R3: 1.5864

Support levels:

S1: 1.5737

S2: 1.5715

S3: 1.5680

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

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