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04.09.2014 12:56 PM
Gold analysis for September 04, 2014

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Overview:

Since our last analysis, EUR/NZD has been trading sideways around the price of 1.5780. We can observe that our Fibonacci retracement 61.8% at the price of 1.5800 was held successfully. It is still unsafe to buy anything, so watch for potential selling opportunities after retracement. According to the 4H time frame, we got supply in a volume above the average, so buying looks very risky at this stage. Any larger supply in a high volume may confirm further bearish movement.

Daily Fibonacci pivot levels :

Resistance levels:

R1: 1.5821

R2: 1.5835

R3: 1.5858

Support levels:

S1: 1.5776

S2: 1.5762

S3: 1.5740

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

Ringkasan
Urgensi
Analitik
Petar Jacimovic
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