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    EUR/NZD : analysis for May 19, 2015

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    Overview:

    Recently, EUR/NZD has been trading downwards. The price tested the level of 1.5055 in an ultra-high volume. The short-term trend is neutral. According to the daily time frame, demand is in a volume below the average. It looks like major resistance around the level of 1.5310 (Fibonacci retracement 50% and strong cluster) held successfully. According to the H4 time frame, we got selling climatic action (hidden buying). Be careful when selling. If we see confirmation of climatic selling, first strong support will be around the level of 1.4820 (major Fibonacci retracement 38.2%).

    Fibonacci Pivot Points:

    Resistance levels:

    R1: 1.5375

    R2: 1.5400

    R3: 1.5435

    Support levels:

    S1: 1.5300

    S2: 1.5280

    S3: 1.5245

    Trading recommendations: Be careful when selling EUR/NZD at this stage since we can observe selling climax (bearish volume spike)





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