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EUR/NZD: analysis for June 08, 2015

EURNZDDailydaily.png

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EURNZDM15.png

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Overview:

Recently, EUR/NZD is trading sideways around 1.5750. The short-term trend is neutral. According to the daily time frame, we can observe a neutral bar (indecision) in a volume above the average. According to the M15 time frame, I found trading range between the levels of 1.5830 and 1.5685. I am waiting for a clear breakout in a high volume to confirm further direction. Today, we are facing a very low volatility (volume below the average).

Fibonacci Pivot Points :

Resistance levels:

R1: 1.5820

R2: 1.5860

R3: 1.5920

Support levels:

S1: 1.5700

S2: 1.5665

S3: 1.5605

Trading recommendations: I found trading range between the levels of 1.5830 and 1.5685. Watch for a clear breakout and trade after retracement.



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