EUR/NZD Technical analysis for December 26, 2014

EUR-NZD Daily outlook December 26, 2014EUR-NZD Daily outlook 1 December 26, 2014

Overview:

In earlier session, EUR/NZD was trading downward position. The price has tested the level of 1.5711 in a volume lower than the average. We can see a possible testing of the level of 1.5675-1.565 (swing low like support).

Selling EUR/NZD at this stage looks risky since we can observe supply in a low volume. We are waiting for a larger activity on the market and stronger price action.

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My suggestion is to watch for possible buying opportunities on the lows. Any bigger demand may ensure a further bullish phase.

Daily Fibonacci pivot levels:

Resistance levels: R1: 1.5808 R2: 1.5825 R3: 1.5854

Support levels: S1: 1.5751 S2: 1.5734 S3: 1.5706

Trading recommendations: Be careful when selling the EUR/NZD pair since we can observe supply in a low volume

Overview: In earlier session, EUR/NZD was trading downward position. The price has tested the level of 1.5711 in a volume lower than the average. We can see a possible testing of the level of 1.5675-1.565 (swing low like support). Selling EUR/NZD at this stage looks risky since we can observe supply in a low volume. We are waiting for a larger activity on the market and stronger price action. My suggestion is to watch for possible buying opportunities on the lows. Any bigger demand may ...
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