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19.05.2015 12:59 PM
EUR/NZD: analysis for May 19, 2015

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Overview:

Recently, EUR/NZD has been trading downwards. The price tested the level of 1.5055 in an ultra-high volume. The short-term trend is neutral. According to the daily time frame, demand is in a volume below the average. It looks like major resistance around the level of 1.5310 (Fibonacci retracement 50% and strong cluster) held successfully. According to the H4 time frame, we got selling climatic action (hidden buying). Be careful when selling. If we see confirmation of climatic selling, first strong support will be around the level of 1.4820 (major Fibonacci retracement 38.2%).

Fibonacci Pivot Points:

Resistance levels:

R1: 1.5375

R2: 1.5400

R3: 1.5435

Support levels:

S1: 1.5300

S2: 1.5280

S3: 1.5245

Trading recommendations: Be careful when selling EUR/NZD at this stage since we can observe selling climax (bearish volume spike)



Summary
Urgency
Analytic
Petar Jacimovic
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