For Traders

Analytical Reviews

Technical analysis

17.04.201511:00 Forex Analysis & Reviews: EUR/NZD analysis for April 17, 2015

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:

Recently, EUR/NZD has been trading sideways around the price of 1.4030. Our Fibonacci expansion 100% at the price of 1.4025 is on the test again. The short-term trend is bearish to neutral. Be careful when buying and watch for potential selling opportunities after corrections. If the price breaks the level of 1.4025 in a high volume, we may see possible testing of the level of 1.3715 (Fibonacci expansion 161.8%). I have placed Fibonacci retracement to find potential resistance levels and have got Fibonacci retracement 38.2% at the price of 1.4070 (on the test) and Fibonacci retracement 61.8% at the price of 1.4135.

Fibonacci Pivot Points:

Resistance levels:

R1: 1.4085

R2: 1.4115

R3: 1.4165

Support levels:

S1: 1.3985

S2: 1.3955

S3: 1.3905

Trading recommendations: If the price breaks the level of 1.4025 in a high volume, we may see potential testing of the level of 1.3715. Selling opportunities are preferable below the price of 1.4025.

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.