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    EUR/NZD analysis for March 31, 2015


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    In our last analysis, EUR/NZD was trading downwards. The price has tested the level of 1.4307 in an average volume. The price found support around the level of 1.4330 (our Fibonacci expansion 61.8%). The short-term trend is still neutral. So, be careful when trading EUR/NZD. According to price action on 4H time frame, we can see a pin bar and rejection from our Fibonacci expansion 61.8%. My advice is to watch for potential buying opportunities. The first resistance level is around the price of 1.4440.

    Daily Fibonacci pivot levels:

    Resistance levels:

    R1: 1.4447

    R2: 1.4462

    R3: 1.4486

    Support levels:

    S1: 1.4400

    S2: 1.4384

    S3: 1.4360

    Trading recommendations: We are in neutral trend. So we need to a clear direction in the next period for better trading opportunities. Anyway, buying positions are preferable.

    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
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