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    EUR/NZD analysis for May 27, 2015

     

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    Overview:

    Recently, EUR/NZD has been trading downwards. The price tested the level of 1.4991 in an ultra high volume (selling climax). The short-term trend is neutral. According to the daily time frame, we can observe weak supply and reversal up-thrust bar (bullish). According to the 30-minute time frame, the price again rejected from our Fibonacci expansion 100% (1.4950) in a high volume. Be careful when selling EUR/NZD since we may see bullish movements. The first strong resistance is around the level of 1.5040.

    Fibonacci Pivot Points:

    Resistance levels:

    R1: 1.5075

    R2: 1.5110

    R3: 1.5164

    Support levels:

    S1: 1.4962

    S2: 1.4927

    S3: 1.4872

    Trading recommendations: Be careful when selling EUR/NZD at this stage since we can observe strong bullish activity (volume) in the background and rejection from our support.


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