InstaForex - Analytics

    InstaForex

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    EUR/NZD analysis for April 04, 2016 2016-04-04

     

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    Recently, EUR/NZD has been moving upwards. The price tested the level of 1.6645 in a high volume. EUR/NZD is trading in a defined upward trend channel. Watch for buying opportunities on dips inside the channel. First, the take profit level is set at the price of 1.6645. I found absorption of selling climax in the background, which is a sign that selling EUR/NZD looks very risky.

    Fibonacci Pivot Points:

    Resistance levels:

    R1: 1.6610

    R2: 1.6665

    R3: 1.6770

    Support levels:

    S1: 1.6420

    S2: 1.6360

    S3: 1.6265

    Trading recommendation for today: Watch for buying opportunities on the dips.


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