empty
 
 
18.04.2014 02:17 PM
EUR/NZD analysis for April 18, 2014

This image is no longer relevant

This image is no longer relevant

Overview:

Since our previous analysis, the EUR/NZD pair has been trading upwards, the price tested the level of 1.6138 on the volume below the average. According to the daily chart (Thursday), we can observe demand bar on the volume below the average, which is a sign that buying at this stage looks risky. According to the 1H timeframe, we can observe weak demand and indecision bar on very high volume, which is another sign that buying at this stage looks risky. As we already wrote in the previous analysis, EUR/NZD is in short- and mid-term bearish trend, so watch for selling opportunities after retracement. I placed Fibonacci expansion levels and I have got Fibonacci expansion 61.8% at the price of 1.6090 (currently on the test) and Fibonacci expansion 100% at the price of 1.6245. Buying looks risky, so watch for selling opportunities after retracement. Any larger supply on a higher volume may confirm further bearish movement. Also, there is resistance at the price of 1.6175 (previous swing high).

Daily pivot Fibonacci points:

Resistance levels:

R1: 1.6132

R2: 1.6166

R3: 1.6220

Support levels:

S1: 1.6022

S2 : 1.5988

S3: 1.5933

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

Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $1000 más!
    ¡En Abril, sorteamos $1000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 100% de bonificación
    Su oportunidad única de obtener un bono del 100 % en su depósito
    OBTENER BONO
  • 55% de bonificación
    Solicite un bono del 55% en cada depósito
    OBTENER BONO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback