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    EUR/NZD analysis for May 06, 2015

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    Overview:

    Recently, EUR/NZD has been trading upwards. As we had expected, the price tested the level of 1.5029 in a high volume. The short-term trend is bullish. Be careful when selling EUR/NZD. Our objective point at the price of 1.5000 (Fibonacci expansion 161.8%) has been met. According to the daily time frame, we can observe supply in a very low volume. I placed Fibonacci retramcenet to find next bullish objective points and got Fibonacci retracement 50% at the price of 1.5155 and Fibonacci retracement 61.8% at the price of 1.5450.

    Fibonacci Pivot Points:

    Resistance levels:

    R1: 1.4855

    R2: 1.4890

    R3: 1.4950

    Support levels:

    S1: 1.4740

    S2: 1.4705

    S3: 1.4645

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