empty
 
 
23.04.2015 11:29 AM
EUR/NZD : analysis for April 23, 2015

This image is no longer relevant

This image is no longer relevant

Overview:

Recently, EUR/NZD has been trading upwards. The price tested the level of 1.4170 in a high volume. The short-term trend changed from bearish to bullish. Be careful when selling at this stage and watch for potential buying opportunities after correction. According to the H4 time frame, we can observe demand in a high volume. I had placed Fibonacci retracement to find potential resistance levels. I got Fibonacci retracement 61.8% at the level of 1.4290. According to the daily time frame, we got a upply in an average volume but the price action was very weak. This reaction caused the price to start start moving upwards. Major support is around the level of 1.3950 (cluster).

Fibonacci Pivot Points:

Resistance levels:

R1: 1.4010

R2: 1.4038

R3: 1.4081

Support levels:

S1: 1.3925

S2: 1.3900

S3: 1.3857

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


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