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23.07.2015 01:43 PM
EUR/NZD : analysis for July 23, 2015

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Overview:

Recently, EUR/NZD is moving upwards. The price tested the level of 1.6386 in a volume above the average. In the daily time frame, we can observe a demand bar in a volume below the average. There is also an inside-bar formation at the level of 16677 (held successful) and a low (support) at 1.6340. Watch for a potential breakout of inside-bar support or resistance. Besides, the price has broken our upward trendline. The short-term trend is neutral, but the mid-term trend is still bullish. I am still waiting for larger liquidity and stronger price actions to confirm the further direction.

Fibonacci Pivot Points :

Resistance levels:

R1: 1.6625

R2: 1.6660

R3: 1.6715

Support levels:

S1: 1.6513

S2: 1.6480

S3: 1.6425

Trading recommendations: Buying EUR/NZD at this stage looks risky since we have the fake breakout in the background.

Ringkasan
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Analitic
Petar Jacimovic
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