EUR/NZD analysis for December 11, 2014

EUR/NZD analysis for December 11, 2014

EUR/NZD analysis for December 11, 2014

EUR/NZD analysis for December 11, 2014

 

Prediction:

In our previous forecast, EUR/NZD was moving downward. As we predicted the trend tested the price of 1.5850 in a very high volume. Our Fibonacci growth 100% at the level of 1.6145 held effectively and it made price begin with strong downward movement.

I positioned Fibonacci retracement to get possible support level and I caught Fibonacci retracement 61.8% at the price of 1.5850 (currently on the test). Consistently to the 4H time frame, we can find lack of supply around the price at 1.5850. So, be careful while selling at this level, but look for possible selling possibilities after retracement.

 

Daily Fibonacci pivot levels:

Resistance levels:

R1: 1.6123

R2: 1.6196

R3: 1.6315

Support levels:

 S1: 1.5884

S2: 1.5811

S3: 1.5691

 

Trading Suggestions:

Be careful while buying the EUR/NZD pair since we acquired strong supply in the background.

  Prediction: In our previous forecast, EUR/NZD was moving downward. As we predicted the trend tested the price of 1.5850 in a very high volume. Our Fibonacci growth 100% at the level of 1.6145 held effectively and it made price begin with strong downward movement. I positioned Fibonacci retracement to get possible support level and I caught Fibonacci retracement 61.8% at the price of 1.5850 (currently on the test). Consistently to the 4H time frame, we can find lack of supply ...
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