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EUR/NZD analysis for February 10, 2015


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In our last analysis EUR/NZD was trading downwards. As we expected, the price has tested the level of 1.5194 in a volume below the average. Our Fibonacci retracement 61.8% at the price of 1.5180 almost got testes; so my advice is to be careful when selling EUR/NZD at this stage. Anyway, if the price breaks the level of 1.5180, we may see a possible testing of the level of 1.5060. According to the 4H time frame, we can observe lack of supply around the price of 1.5225, which is a sign that selling looks risky.

Daily Fibonacci pivot levels:

Resistance levels:

R1: 1.5375

R2: 1.5424

R3: 1.5504

Support levels:

S1: 1.5215

S2: 1.5166

S3: 1.5086

Trading recommendations: Be careful when selling at this stage and watch for potential buying opportunities after retracement (buy on the dips).

Petar Jacimovic neemt deel aan de "Analyst of the Year" onderscheiding georganiseerd door portal. Als u zijn artikel goed vindt, stemt u dan op hem.

Uitgevoerd door, Analytische expert
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