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    EUR/NZD : analysis for July 23, 2015


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    Recently, EUR/NZD is moving upwards. The price tested the level of 1.6386 in a volume above the average. In the daily time frame, we can observe a demand bar in a volume below the average. There is also an inside-bar formation at the level of 16677 (held successful) and a low (support) at 1.6340. Watch for a potential breakout of inside-bar support or resistance. Besides, the price has broken our upward trendline. The short-term trend is neutral, but the mid-term trend is still bullish. I am still waiting for larger liquidity and stronger price actions to confirm the further direction.

    Fibonacci Pivot Points :

    Resistance levels:

    R1: 1.6625

    R2: 1.6660

    R3: 1.6715

    Support levels:

    S1: 1.6513

    S2: 1.6480

    S3: 1.6425

    Trading recommendations: Buying EUR/NZD at this stage looks risky since we have the fake breakout in the background.

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