Overview:
Recently, EUR/NZD has been moving downwards. The price tested the level of 1.6234. In the background, the price went down in an ultra-high volume (selling climax), so trading around the level of 1.6180 looks very risky. I saw rejection from Fibonacci retracement 61.8% at the level of 1.6255. We may see potential retesting of 1.6560 during the next period. Selling looks very risky.
Fibonacci Pivot Points:
Resistance levels:
R1: 1.6430
R2: 1.6500
R3: 1.6615
Support levels:
S1: 1.6210
S2: 1.6140
S3: 1.6030
Trading recommendations : Selling EUR/NZD at this stage looks very risky since the price is testing the major support cluster. Watch for potential buying opportunities on dips.
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 December 14, 2015 . Thanks for your support.
No comments:
Post a Comment