InstaForex - Analytics


    699.25 6.25/10
    61% of positive reviews

    EUR/NZD analysis for March 06, 2015


    Show full picture


    Show full picture


    In our last analysis EUR/NZD was trading downwards. The price rejected from our Fibonacci retracement 38.2% (1.4810). According to the 4H time frame, we can observe supply in a volume above the average. I have placed Fibonacci retracement to find potential support levels and have got Fibonacci retracement 61.8% at the price of 1.4650 (currently on the test). Selling EUR/NZD at this stage still looks very risky since we may expect reaction from buyers.

    Daily Fibonacci pivot levels:

    Resistance levels:

    R1: 1.4797

    R2: 1.4850

    R3: 1.4939

    Support levels:

    S1: 1.4621

    S2: 1.4567

    S3: 1.4479

    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
    InstaForex Group © 2007-2015

    To leave a comment you must or Join us

    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree