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    EUR/NZD analysis for May 07, 2015

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    Overview:

    Recently, EUR/NZD has been trading upwards. As we had expected, the price tested the level of 1.5240 in a high volume. The short-term trend is bullish. Be careful when selling EUR/NZD. Our objective point at the price of 1.5155 (Fibonacci retracement 50%) has been reached. According to the daily time frame, we can observe demand in a high volume. I placed Fibonacci retracement to find next bullish objective point Fibonacci retracement 61.8% at the price of 1.5450.

    Fibonacci Pivot Points:

    Resistance levels:

    R1: 1.5160

    R2: 1.5250

    R3: 1.5390

    Support levels:

    S1: 1.4875

    S2: 1.4780

    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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