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21.10.201615:38 Forex Analysis & Reviews: EUR/NZD analysis for October 21, 2016

Long-term review

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Recently, EUR/NZD has been moving sideways at the price of 1.5190. On the 30M time frame I found strong weakness in the background and wide spread of the bar. Be careful when buying EUR/NZD at this stage and watch for selling opportunties. There is broken upward trendline on the backgorund, which is a sign for potential lower price. First downward target is set at the price of 1.5170 and the second one is at the price of 1.5135.

Fibonacci Pivot Points:

Resistance levels

R1: 1.5265

R2: 1.5310

R3: 1.5385

Support levels:

S1: 1.5120

S2: 1.5075

S3: 1.5000

Trading recommendations for today: Watch for potential selling opportunties.

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