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28.05.2014 01:55 PM
EUR/NZD analysis for May 28, 2014
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Overview:

Since our previous analysis, the EUR/NZD pair has been trading upwards, the price tested the level of 1.6046 on ultra high volume (buying climax) according to the 4H timeframe . According to the 4H timeframe, I have placed Fibonacci retracement levels to find potential end of bullish movement and I got major Fibonacci retracement 61.8% at the price of 1.6075. We can observe broken resistance level at the price of 1.6015 but on ultra high volume, which may be a panic movement so buying at this stage looks very risky. A support level at the price of 1.5910 held successfully and that caused price to start upward movement. Anyway, be careful with buying EUR/NZD since price is near the resistance.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1.5961

R2: 1.5975

R3: 1.5997

Support levels:

S1: 1.5917

S2: 1.5903

S3: 1.5881

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

Ringkasan
Urgensi
Analitik
Petar Jacimovic
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