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15.07.2015 01:59 PM
EUR/NZD analysis for July 15, 2015

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Overview:

Recently, EUR/NZD is moving sideways around the price of 1.6435. In the daily time frame, we can observe a bearish bar in a volume below the average and there is also an inside-bar formation with high (resistance) at the price of 16677 and the low (support) at the price of 1.6340. Watch for potential breakout of inside-bar support or resistance. I found strong demand trendline (support) around the price of 1.6390. The short-term trend is neutral, but the mid-term trend is still bullish. We created new trading range between the level of 1.6340 and the level of 1.6675. I am still waiting for larger liquidity and stronger price action to confirm further direction.

Fibonacci Pivot Points :

Resistance levels:

R1: 1.6500

R2: 1.6530

R3: 1.6590

Support levels:

S1: 1.6390

S2: 1.6360

S3: 1.6300

Trading recommendations: Selling EUR/NZD looks risky. We can observe strong support around the level of 1.6425.

Summary
Urgency
Analytic
Petar Jacimovic
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