InstaForex InstaForex

Forex Analysis: 11 Jan 2017, 10:55 UTC+00

EUR/NZD analysis for January 11, 2017

analytics58761ce987088.png

Show full picture

Recently, EUR/NZD has been moving downwards. The price tested the level of 1.5017 in a high volume. According to the 4H time frame, I found rejection from multi Fibonacci ratio, which is a sign that EUR/NZD may go lower. There is also a broken upward trendline in the background, which is another sign of weakness. I have placed Fibonacci expansion to find potential downward targets. I got Fibonacci expansion 100% at the price of 1.4910 and Fibonacci expansion 161.8% at the price of 1.4730.

Fibonacci Pivot Points:

Resistance levels

R1: 1.5165

R2: 1.5200

R3: 1.5260

Support levels:

S1: 1.5050

S2: 1.5020

S3: 1.4965

Trading recommendations for today: Watch for selling opportunities with the first target at 1.4910.


Performed by
analytical expert: Petar Jacimoviс
InstaForex Group © 2007-2017
 Published: 11 Jan 2017, 10:55 UTC+00

 
Recommend: Forex Analytics
 
USD/CHF profit target reached perfectly, prepare to buy again
21 Jul 2017, 06:05 UTC+00   
Views today 2397
EUR/USD profit target reached perfectly, prepare to sell for a drop
21 Jul 2017, 06:06 UTC+00   
Views today 2381
NZD/USD testing resistance, prepare to sell for a corrective drop
21 Jul 2017, 06:04 UTC+00   
Views today 2292
Technical analysis of USD/CHF for July 21, 2017
21 Jul 2017, 04:51 UTC+00   
Views today 2205
Technical analysis of USD/JPY for July 21, 2017
21 Jul 2017, 07:08 UTC+00   
Views today 2053



Start trading with
no risks and investments
With new Start-Up Bonus of $2500