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 December 05, 2014

EURNZDDaily05.png


EURNZDH405.png


Overview:


In our last analysis, EUR/NZD has been trading upwards. The price tested and rejected from the level of 1.5977 in an ultra high volume. I have placed Fibonacci expansion to find potential support levels. I got Fibonacci expansion of 100% at the price of 1.5780 and Fibonacci expansion of 161.8% at the price of 1.5715. Our Fibonacci retracement of 61.8% at the price of 1.5910 held successfully, which enabled the price to start with a downward movement. According to the daily time frame, we can observe weak demand. According to the 4H time frame, EUR/NZD is in an absorption phase. So, be careful when buying.


Daily Fibonacci pivot levels:


Resistance levels:


R1: 1.5962


R2: 1.5992


R3: 1.6042


Support levels:


S1: 1.5862


S2: 1.5832


S3: 1.5782


Trading recommendations: Be careful when buying EUR/NZD since we got an absorption volume in the background. Watch for potential selling opportunities.


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