14.07.201516:25 Forex Analysis & Reviews: EUR/NZD analysis for July 14, 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 is moving downwards. The price tested the level of 1.6420 in an average volume. In the daily time frame, we can observe a bearish bar in a volume just above the average and there is also an inside-bar formation with high (resistance) at the price of 16677 and the low (support) at the price of 1.6340. Watch for potential breakout of inside-bar support or resistance. I found strong demand trendline (support) around the price of 1.6390 A short-term trend is neutral, but a mid-term trend is still bullish. We created new trading range between the level of 1.6340 and the level of 1.6675. I am still waiting for larger liquidity and stronger price action to confirm further direction.

Fibonacci Pivot Points :

Resistance levels:

R1: 1.6565

R2: 1.6610

R3: 1.6680

Support levels:

S1: 1.6415

S2: 1.6370

S3: 1.6300

Trading recommendations: Selling EUR/NZD looks risky. We can observe strong support around the level of 1.6425.

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.