InstaForex - Analytics

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    EUR/NZD analysis for June 17, 2016

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    Recently, EUR/NZD has been moving sideways at the price of 1.5960. According to 30M time frame, I found a successful test of supply trendline. The trend is downward. My advice is to watch for selling opportunities since the price successful tested the supply trendline. The first take profit level is set at the price of 1.5840.

    Fibonacci Pivot Points:

    Resistance levels:

    R1: 1.6015

    R2: 1.6050

    R3: 1.6120

    Support levels:

    S1: 1.5885

    S2: 1.5845

    S3: 1.5780

    Trading recommendations for today: Watch for selling opportunities on pullbacks since I found a successful test of the supply trendline.


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