empty
 
 
15.04.2014 02:59 PM
EUR/NZD analysis for April 15, 2014
This image is no longer relevant
This image is no longer relevant

Overview:

Since our previous analysis, the EUR/NZD pair has been trading downwards, as we expected, the price tested the level of 1.5889 on the volume just below the average. According to the daily chart, we can observe rejection from our Fibonacci retracement 61.8% and that supply is overcoming demand on average volume, which is a sign that buying at this stage looks risky. As we already wrote in the previous analysis, EUR/NZD is in short- and mid-term bearish trend so watch for selling opportunities after retracement. Major down station may be the price of 1.5765. According to the 4H timeframe, we can obserbe that supply came into the market on volume above the average. Buying looks risky, so watch for selling opportunities after retracement. Any larger supply on higher volume may confirm further bearish movement.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1.5993

R2: 1.6022  

R3: 1.6069

Support levels:

S1: 1.5899

S2 : 1.5870

S3: 1.5823

Trading recommendation: Be careful with buying the EUR/NZD and watch for selling opportunities after retracement.

Gagnez sur les variations du cours des cryptomonnaies avec InstaForex.
Téléchargez MetaTrader 4 et ouvrez votre première transaction.
  • 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 $1000 more!
    In April we raffle $1000 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