MG Network

something big isHappening!

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

Popular

Pages

Expert In

Name*


Message*

EUR/NZD : analysis for November 28, 2014

EURNZDDaily28.png


EURNZDH428.png


Overview:


In our last analysis, EUR/NZD has been trading upwards. As we expected, the price tested the level of 1.5896 in an average volume. According to the 4H time frame, we can oberve weak demand on the market, which is a sign that buying EUR/NZD at this stage looks risky. I have placed Fibonacci retracement to find potential resistance levels and I got Fibonacci retracement 38.2% at the price of 1.5870 (currently on the test) and Fibonacci retracement 61.8% at the price of 1.5920. According to the daily time frame, we got absorption volume but from the other side we got strong resistance around the price of 1.6030.


Daily Fibonacci pivot levels:


Resistance levels:


R1: 1.5886


R2: 1.5911


R3: 1.5951


Support levels:


S1: 1.5805


S2: 1.5780


S3: 1.5739


Trading recommendations: Be careful when selling EUR/NZD since we got a strong absorption volume in the background buy pay attention on the 1.6030 level


The material has been provided by InstaForex Company - www.instaforex.com