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    EUR/NZD : analysis for May 12, 2015

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    Overview:

    Recently, EUR/NZD has been trading upwards. As we expected, the price tested the level of 1.5312 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 demand in an average volume. Our target is at 1.5450. Watch for potential buying opportunities on the dips (after bearish correction). First support level is around 1.5230-1.5210.

    Fibonacci Pivot Points:

    Resistance levels:

    R1: 1.5220

    R2: 1.5270

    R3: 1.5345

    Support levels:

    S1: 1.5060

    S2: 1.5010

    S3: 1.4935

    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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