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    EUR/NZD : analysis for May 11, 2015

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    Overview:

    Recently, EUR/NZD has been trading upwards. As we expected, the price tested the level of 1.5185 in a high volume. The short-term trend is bullish. Our target at 1.5155 (Fibonacci retracement 50%) has been reached and we can observe a completed bearish corrective phase in the background. According to the daily time frame, we can observe supply in a volume just above average in the background. Our target is at the price of 1.5450. Watch for potential buying opportunities on the dips (after bearish correction).

    Fibonacci Pivot Points:

    Resistance levels:

    R1: 1.5100

    R2: 1.5150

    R3: 1.5230

    Support levels:

    S1: 1.4950

    S2: 1.4900

    S3: 1.4826

    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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