Overview:
Recently, EUR/NZD is moving upwards. The price tested the level of 1.6271 in an ultra-high volume. In the daily time frame, we can observe a weak bullish bar in a volume just above the average. Our trading range between the levels of 1.6150 and 1.5590 was broken and we may expect the price to move higher. We can observe re-accumulation in the background so watch for potential buying opportunities on dips. I had placed Fibonacci retracement to find potential support levels. I got Fibonacci retracement 38.2% at the level of 1.6175, Fibonacci retracement 61.8% at the level of 1.6145 and Fibonacci retracement 61.8% at the level of 1.6115. The short-term trend is bullish.
Fibonacci Pivot Points :
Resistance levels:
R1: 1.6180
R2: 1.6220
R3: 1.6290
Support levels:
S1: 1.6040
S2: 1.6000
S3: 1.5930
Trading recommendations: We can observe the bullish market. Selling looks risky. Re-accumulation is in the background so watch for buying opportunities on the dips.
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Performed by Petar Jacimovic, Analytical expert InstaForex Group © 2007-2015 |
EUR/NZD : analysis for June 27, 2015
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