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21.04.2015 02:48 PM
EUR/NZD : analysis for April 21, 2015

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Overview:

Recently, EUR/NZD has been trading downwards. As we expected, the price tested the level of 1.3877 in a high volume. Our Fibonacci expansion 100% at the level of 1.4025 is broken. The short-term trend is bearish. Be careful when buying and watch for potential selling opportunities after corrections. We may see possible testing of 1.3715 (Fibonacci expansion 161.8%). According to the H4 time frame, we can observe a supply in an average volume. Selling positions are preferable. Resistance levels are at 1.3945-1.3980 (recent swing lows).

Fibonacci Pivot Points:

Resistance levels:

R1: 1.4045

R2: 1.4070

R3: 1.4113

Support levels:

S1: 1.3961

S2: 1.3935

S3: 1.3893

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


Summary
Urgency
Analytic
Petar Jacimovic
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