EUR/NZD analysis for December 12, 2014

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Overview:

In our previous analysis, EUR/NZD was rising higher. As we predicted, the price experienced the level of 1.5970 in a regular level. Our Fibonacci retracement 61.8% at the price of 1.5835 occurred effectively and it created price start with strong upward trend.

I positioned Fibonacci retracement to get possible resistance level and got Fibonacci retracement 38.2% at the price of 1.5975 (at present on the test) and Fibonacci retracement 61.8% at the price of 1.6060.

According to the 4H time frame, we can see demand on the market. So, be cautious while buying EUR/NZD at this period since price is testing our resistance level.

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Daily Fibonacci Pivot levels:

Resistance levels:

R1: 1.5947

R2: 1.5979

R3: 1.6031

Support levels:

S1: 1.5843

S2: 1.5811

S3: 1.5759

Trading Suggestion:

Be cautious while buying the EUR/NZD pair because our resistance level is on the test.

Overview: In our previous analysis, EUR/NZD was rising higher. As we predicted, the price experienced the level of 1.5970 in a regular level. Our Fibonacci retracement 61.8% at the price of 1.5835 occurred effectively and it created price start with strong upward trend. I positioned Fibonacci retracement to get possible resistance level and got Fibonacci retracement 38.2% at the price of 1.5975 (at present on the test) and Fibonacci retracement 61.8% at the price of 1.6060. According to ...
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