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    EUR/NZD : analysis for September 02, 2015

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    Overview:

    Recently, EUR/NZD has been moving upwards. The price tested the level of 1.7884. In the daily time frame, we can observe a weak demand bar in an average volume. The trend is neutral. Buying still looks risky, since we got strong weakness on the background. Watch only for selling opportunities after retracement. Support is seen around the level of 1.7700. We need to see a change in trend behavior from neutral to downward and then we can watch for selling opportunities. According to the H1 time frame, we can observe sings of weakness that means we may expect a downward movement.

    Fibonacci Pivot Points :

    Resistance levels:

    R1: 1.7895

    R2: 1.7960

    R3: 1.8060

    Support levels:

    S1: 1.7693

    S2: 1.7630

    S3: 1.7528

    Trading recommendations: Watch only for selling opportunities after retracement.


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