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10.04.2015 01:04 PM
EUR/NZD : analysis for April 10, 2015

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Overview:

Recently, EUR/NZD was trading downwards. The price tested the level of 1.4042 in a high volume. Our Fibonacci expansion 100% at the level of 1.4035 is on the test. Be careful when selling at this stage. The short-term trend is bearish. If the price breaks the level of 1.4030 in a high volume, we may see possible testing of 1.3720 (Fibonacci expansion 161.8%). Watch for potential selling opportunities after retracement. According to the 4H time frame, we can observe a weak price action around our Fibonacci expansion 100%.

Daily Fibonacci pivot levels:

Resistance levels:

R1: 1.4238

R2: 1.4289

R3: 1.4371

Support levels:

S1: 1.4074

S2: 1.4023

S3: 1.3941

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


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