EUR/NZD : analysis for January 02, 2015 Market Analysis Review

Overview:

In our last analysis, EUR/NZD was trading upwards. The price tested the level of 1.5575 in a volume above the average. According to the H4 time frame, we can see weak supply in the background, which caused price to start with upwrad movement. We have resistance levels at the price of 1.5645-1.5710. My advice is to watch for potential buying opportunities with profit targets around our resistance levels.

Daily Fibonacci pivot levels:

Resistance levels:

R1: 1.5534

R2: 1.5550

R3: 1.5574

Support levels:

S1: 1.5486

S2: 1.5470

S3: 1.5446

Trading recommendations: Be careful when selling the EUR/NZD pair at this stage, since we can observe supply in a low volume.

The material has been provided by InstaForex Company - www.instaforex.com



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