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    EUR/NZD analysis for July 04, 2016

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    Recently, EUR/NZD has been moving downwards. As I expected, the price tested the level of 1.5440 in a high volume. My target level at the price of 1.5455 has been reached. According to the 30M time frame, I found strong downward pressure and breakout of support at 1.5450. I have placed Fibonacci expansion from the most recent swings. I got Fibonacci expansion 100% at the price of 1.5440 (currently on the test) and Fibonacci expansion 161.8% at the price of 1.5390 (downward station).

    Fibonacci Pivot Points:

    Resistance levels:

    R1: 1.5575

    R2: 1.5600

    R3: 1.5655

    Support levels:

    S1: 1.5480

    S2: 1.5450

    S3: 1.5400

    Trading recommendations for today: Watch for selling opportunities on pullbacks


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