Technical Analysis of EUR/NZD for January 05, 2015

Analysis of EUR-NZD for January 05, 2015Analysis of EUR-NZD for January 05, 15

Overview:

Earlier time, EUR/NZD was heading upwards. As we estimated, the trend tested the level of 1.5675 in an especially high volume. Consequently to the H4 time frame, we can see strong rejection from our resistance area, which caused price to establish downward movement.

My suggestion is to look for potential selling opportunities. Our most important support level is around the price of 1.5400 (Fibonacci expansion 100%).

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Daily Fibonacci pivot levels:

Resistance levels:

R1: 1.5624

R2: 1.5659

R3: 1.5714

Support levels:

S1: 1.5513

S2: 1.5478

S3: 1.5422

Trading recommendations:

Be cautious while buying the EUR/NZD pair at this level, since we can see strong rejection in the background.

Overview: Earlier time, EUR/NZD was heading upwards. As we estimated, the trend tested the level of 1.5675 in an especially high volume. Consequently to the H4 time frame, we can see strong rejection from our resistance area, which caused price to establish downward movement. My suggestion is to look for potential selling opportunities. Our most important support level is around the price of 1.5400 (Fibonacci expansion 100%). Daily Fibonacci pivot levels: Resistance levels: R1: 1.5624 ...
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