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FX.co ★ EUR/NZD : analysis for April 20, 2015

EUR/NZD : analysis for April 20, 2015

EUR/NZD : analysis for April 20, 2015

EUR/NZD : analysis for April 20, 2015

Overview:

Recently, EUR/NZD has been trading downwards. The price tested the level of 1.3944. Our Fibonacci expansion 100% at the level of 1.4025 is broken.The short-term trend is bearish. Be careful when buying and watch for potential selling opportunities after corrections. We may see possible testing of the level at 1.3715 (Fibonacci expansion 161.8%). According to the H4 time frame, we can observe a supply in a average volume. Selling positions are preferable.

Fibonacci Pivot Points:

Resistance levels:

R1: 1.4080

R2: 1.4100

R3: 1.4140

Support levels:

S1: 1.4007

S2: 1.3985

S3: 1.3950

Trading recommendations: Be careful when buying EUR/NZD and watch for potential selling opportunities after retracement.


*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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