In our last analysis EUR/NZD was trading upwards. The price has tested the level of 1.4794. According to the 4H time frame, I have placed Fibonacci expansion to find potential resistance levels and have got Fibonacci expansion 61.8% at the price of 1.4760 (currently on the test), Fibonaci expansion 100% at the price of 1.4860 and Fibonacci expansion 161.8% at the price of 1.5020. Selling EUR/NZD at this stage still looks very risky since we may expect reaction from buyers. My advice is to watch for potential buying opportunities after retracement.
Daily Fibonacci pivot levels:
Trading recommendations: Be careful when selling at this stage and watch for potential buying opportunities after retracement (buy on the dips).
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Uitgevoerd door, Analytische expert
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