Overview:
Recently, EUR/NZD has been moving upwards. The price tested the level of 1.7843. In the daily time frame, we can observe a demand bar in a volume below the average. The trend is neutral. Our Fibonacci expansion 61.8% at the level of 1.7325 held successfully. Anyway, we saw that supply came in according to the H1 time frame. Buying still looks risky, since we got strong weakness on the background. Watch only for selling opportunities after retracement. Support is seen around the level of 1.7275. We need to see a change in trend behavior from neutral to downward and then we can watch for selling opportunities.
Fibonacci Pivot Points :
Resistance levels:
R1: 1.7760
R2: 1.7875
R3: 1.8065
Support levels:
S1: 1.7380
S2: 1.7260
S3: 1.7070
Trading recommendations: Watch only for selling opportunities after retracement.
The material has been provided by InstaForex Company - www.instaforex.comFor detail explanation and best discovery on daily market trends and news you may visit via EUR/NZD analysis for September 01, 2015 . Thanks for your support.
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