InstaForex - Analytics

    InstaForex

    694.50 6.50/10
    61% of positive reviews
    Real

    EUR/NZD analysis for February 03, 2016 2016-02-03

    EURNZDDaily.png03.png

    Show full picture

    EURNZDH4.png03.png

    Show full picture

    EURNZDM30.png03.png

    Show full picture

    Overview:

    Recently, EUR/NZD has been moving downwards. The price tested the level of 1.6518 in a high volume. Anyway, the price reached our intraday take profit level (resistance) at 1.6875 and then rejected strongly downwards. In the 4H time frame, I saw a test of the strong support level at 1.6515 (swing low, Fibonacci expansion 61.8%). If the price breaks the level of 1.6515, we may expect potential testing of 1.6260 (Fibonacci expansion 100%) and the level of 1.5830 (Fibonacci expansion 161.8%). The intraday trend is downward.

    Fibonacci Pivot Points:

    Resistance levels:

    R1: 1.6875

    R2: 1.6945

    R3: 1.7060

    Support levels:

    S1: 1.6650

    S2: 1.6580

    S3: 1.6465

    Trading recommendations: the intraday trend is downard. So, watch for potential breakout of 1.6515 to confirm further downward continuation.


    To leave a comment you must or Join us


    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree