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EUR/NZD : analysis for March 10, 2015

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Overview:

In our last analysis EUR/NZD was trading upwards. As we expected, the price has tested and has rejected from the level of 1.4865. Our Fibonacci expansion 100% at the price of 1.4860 was held successfully which is a sign that buying EUR/NZD at this stage looks risky. I have placed Fibonacci retracement to find potential support levels and have got Fibonacci retracement 61.8% around the price of 1.4670. My advice is to watch for potential buying opportunities after retracement.

Daily Fibonacci pivot levels:

Resistance levels:

R1: 1.4785

R2: 1.4812

R3: 1.4855

Support levels:

S1: 1.4698

S2: 1.4671

S3: 1.4621

Trading recommendations: Be careful when selling at this stage and watch for potential buying opportunities after a 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
InstaForex Group © 2007-2015


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