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28.07.201613:21 Forex Analysis & Reviews: EUR/NZD analysis for July 28, 2016

Long-term review

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Recently, EUR/NZD has been moving upwards. The price tested the level of 1.5650 in a high volume. According to the 4H time frame, I found strength in the background. I found bullish outside bar formation and morning star formation, which are signs that selling looks risky. The price rejection from Fibonacci retracement 38.2% at 1.5555. Be careful when selling and watch for buying opportunities. Take profit level is set at the price of 1.5830.

Fibonacci Pivot Points:

Resistance levels:

R1: 1.5675

R2: 1.5715

R3: 1.5777

Support levels:

S1: 1.5545

S2: 1.5505

S3: 1.5440

Trading recommendations for today: Be careful when selling and watch for buying opportunities.

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