25.08.201517:09 Forex Analysis & Reviews: EUR/NZD analysis for August 25, 2015

Long-term review

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Overview:

Recently, EUR/NZD has been moving upwards. As we expected, the price tested the level of 1.8686. The price has spiked 1,000 pips since our last analysis. In the daily time frame, we can observe that sellers started to sell actively around the price of 1.8685. Now, this is a strong sign of weakness. Consider only selling opportunities after retracement. Potential profit targets are 1.7330, 1.6930, and the price of 1.6260.

Fibonacci Pivot Points :

Resistance levels:

R1: 1.8425

R2: 1.8790

R3: 1.9380

Support levels:

S1: 1.7245

S2: 1.6875

S3: 1.6285

Trading recommendations: Watch for buying opportunities on the dips. EUR/NZD is in a strong uptrend.

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