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    EUR/NZD analysis for May 06, 2016 2016-05-06

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    Recently, EUR/NZD has been moving upwards. The price tested the level of 1.6704 in a high volume. According to the 15M time frame, I found successful testing of supply in a low volume, which is sign that an upward price is possible. Watch for buying opportunities on the dips. The take profit level is set at the price of 1.6740 . According to the 4H time frame, EUR/NZD is in an upward trend.

    Fibonacci Pivot Points:

    Resistance levels:

    R1: 1.6673

    R2: 1.6720

    R3: 1.6790

    Support levels:

    S1: 1.6525

    S2: 1.6480

    S3: 1.6405

    Trading recommendation for today: Be careful when selling EUR/NZD and watch for buying opportunities on the dips.


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