EUR/NZD analysis for March 17, 2015 Market Analysis Review

Overview:

In our last analysis EUR/NZD was trading upwards. The price has tested the level of 1.4509 in a high volume. We can observe testing of our Fibonacci retracement 38.2% at the price of 1.4490. The mid-term trends are bearish and my advice is to watch for potential selling opportunities after corrections. I found resitance about the price of 1.4560 (swing low like resistance). My advice is to be careful when buying and to watch for potential selling opportunities after retracement.

Daily Fibonacci pivot levels:

Resistance levels:

R1: 1.4353

R2: 1.4376

R3: 1.4413

Support levels:

S1: 1.4278

S2: 1.4256

S3: 1.4219

Trading recommendations: Be careful when buying at this stage and watch for potential selling opportunities after a retracement (after bullish correction).

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



For detail explanation and best discovery on daily market trends and news you may visit via EUR/NZD analysis for March 17, 2015 . Thanks for your support.