empty
 
 
09.12.2014 03:01 PM
EUR/NZD : analysis for December 09, 2014

This image is no longer relevant

This image is no longer relevant

Overview:

In our last analysis, EUR/NZD has been trading upwards. The price tested the level of 1.6154 in an average volume. Our Fibonacci expansion 100% at the price of 1.6145 is on the test. I have placed Fibonacci retracement to find potential resistance level and I got Fibonacci retracement 61.8% at the price of 1.6165. According to the 4H time frame, we can observe lack of demand around the price of 1.6150. So, be careful when buying and watch for potential selling opportunities. Any larger supply may confirm a further bearish phase. We got support level (swng high like support) at the price of 1.6075.

Daily Fibonacci pivot levels:

Resistance levels:

R1: 1.6104

R2: 1.6142

R3: 1.6202

Support levels:

S1: 1.5984

S2: 1.5946

S3: 1.5886

Trading recommendations: Be careful when buying EUR/NZD since the price is near our resistance level. Watch for potential selling opportunities in a short-term perspective.

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 $9000 more!
    In May we raffle $9000 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
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 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