Overview:
Recently, EUR/NZD has been moving upwards. The price tested the level of 1.7003 in a very high volume. In the daily time frame, we can observe a strong bullish bar in a high volume. In the H4 time frame, the price has broken the point of control zone and we may expect further upward movement. The price is well above all key MA`s (50SMA, 100SMA, 150SMA, and 200 SMA). In lower time frames, I found a change in the trend dynamic from downward to upward. Watch for potential buying opportunities at dips. The first take profit zone is set at the price of 1.7260 (previous swing high).
Fibonacci Pivot Points:
Resistance levels:
R1: 1.7000
R2: 1.7085
R3: 1.7225
Support levels:
S1: 1.6720
S2: 1.6630
S3: 1.6496
Trading recommendations: The intraday trend is upward. Watch for potential buying opportunities.
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 January 28, 2016 . Thanks for your support.
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