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    EUR/NZD : analysis for April 27, 2015

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    Overview:

    Recently, EUR/NZD has been trading downwards. The price tested the level of 1.4222 in an average volume. The short-term trend changed from bearish to bullish. Be careful when selling at this stage and watch for potential buying opportunities after a bearish correction. According to the H4 time frame, we can observe supply in an average volume but with a very weak price action. I had placed Fibonacci retracement to find potential support levels. I got Fibonacci retracement 38.2% at the level of 1.4200 and Fibonacci retracement 61.8% at the level of 1.4085. We also found support around 1.4220 (recent swing high like support).

    Fibonacci Pivot Points:

    Resistance levels:

    R1: 1.4371

    R2: 1.4408

    R3: 1.4469

    Support levels:

    S1: 1.4250

    S2: 1.4212

    S3: 1.4150

    Trading recommendations: Be careful when selling EUR/NZD and watch for potential buying opportunities after retracement.


    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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