empty
 
 
09.01.2015 03:55 PM
Analysis of EUR/NZD for January 09, 2014
This image is no longer relevant

This image is no longer relevant

Overview:

In our last analysis, EUR/NZD was trading sideways around the price of 1.5080. According to the H1 time frame, we can observe supply in a ultra high volume (selling climax), which is a sign that selling EUR/NZD around the price of 1.5080 looks risky. Our Fibonacci expansion 100% at the price of 1.5400 got broken so we may see a potential testing of the level of 1.4950 (Fibonacci expansion 161.8%). Be careful when selling at this stage but watch for potential selling opportunities after retracement (after bullish correction). Yesterday we got supply in a volume above the average and very weak reaction from buyers.

Daily Fibonacci pivot levels:

Resistance levels:

R1: 1.5195

R2: 1.5236

R3: 1.5304

Support levels:

S1: 1.5059

S2: 1.5018

S3: 1.4950

Trading recommendations: Be careful when selling the EUR/NZD pair at this stage, since we can observe selling climax according to the 1H time frame.


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