Overview:
Since our last analysis, EUR/NZD has been trading upwards. The price tested the level of 1.5860 in a volume just below average according to the 4H time frame, which is a sign that buying looks very risky. It is still unsafe to buy anything, so watch for potential selling opportunities after retracement. If the price breaks the level of 1.5710 in a higher volume, we may see potential testing the level of 1.5595.
Fibonacci pivot levels :
Resistance levels:
R1: 1.5827
R2: 1.5853
R3: 1.5896
Support levels:
S1: 1.5742
S2: 1.5716
S3: 1.5674
Trading recommendations: Be careful when buying the EUR/NZD pair and watch for selling opportunities after retracement.
The material has been provided by InstaForex Company - www.instaforex.com
For detail explanation and best discovery on market trends you may visit via EUR/NZD analysis for August 26, 2014 . Thanks for your support on EUR/NZD analysis for August 26, 2014
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