For Traders

Analytical Reviews

Technical analysis

21.11.201415:55 Forex Analysis & Reviews: EUR/NZD : analysis for November 21, 2014

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Overview:

In our last analysis, EUR/NZD has been trading downwards. As we expected, the price rejected from the level of 1.6035 and tested the level of . According to the daily time frame, we can observe supply in a volume above the average. According to the 4H time frame, we can oberve supply in a ultra high volume (selling climax), which is sign that buying at this stage looks risk. Anyway, we may see smaller reaction from buyers so my advice is to wait for bullish corrective phase and then try to build selling positions. Our next down station is around the price of 1.5515.

Daily Fibonacci pivot levels:

Resistance levels:

R1: 1.6010

R2: 1.6038

R3: 1.6084

Support levels:

S1: 1.5918

S2: 1.5889

S3: 1.5844

Trading recommendations: Be careful when buying EUR/NZD since we may expect lower prices

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.