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    EUR/NZD analysis for February 17, 2015

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    Overview:

    In our last analysis EUR/NZD was trading downwards. The price has tested the level of 1.5072 in an average volume. Our Fibonacci expansion 61.8% at the price of 1.5090 is on the test, so be very careful when selling EUR/NZD. We have a resistance around the price of 1.5200 (swing low like resistance). If the price breaks the level of 1.5200 in a high volume, we may see a possible testing of the level of 1.5350 (major Fibonacci retracement 38.2%). My advice is to watch for potential buying opportunities on the lows (buy on the dips).

    Daily Fibonacci pivot levels:

    Resistance levels:

    R1: 1.5218

    R2: 1.5253

    R3: 1.5308

    Support levels:

    S1: 1.5108

    S2: 1.5073

    S3: 1.5018

    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 MT5.com portal. Als u zijn artikel goed vindt, stemt u dan op hem.

    Uitgevoerd door, Analytische expert
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