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EUR/NZD analysis for February 11, 2015

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Overview:

In our last analysis EUR/NZD was trading sideways around the price of 1.5250. Our Fibonacci retracement 61.8% at the price of 1.5180 almost got tested. 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. Our Fibonacci expansion 61.8% at the price of 1.5235 is held successfully. 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. We got resistance level at the price of 1.5340.

Daily Fibonacci pivot levels:

Resistance levels:

R1: 1.5314

R2: 1.5337

R3: 1.5373

Support levels:

S1: 1.5242

S2: 1.5219

S3: 1.5183

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


Arief Makmur neemt deel aan de "Analyst of the Year" onderscheiding georganiseerd door MT5.com portal. Als u zijn artikel goed vindt, stemt u dan op hem.

Uitgevoerd door, Analytische expert
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