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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.

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EUR/NZD analysis for October 26, 2015

EURNZDDaily.png26.png

EURNZDH1.png26.png

Overview:

Recently, EUR/NZD has been moving upwards. The price tested the level of 1.6343. In the daily time frame, we can observe a neutral bar. Our Fibonacci retracement 50% major held successfully and the price was rejected. Anyway, we can observe successful rejection from our resistance level at 1.6340. The trend is downward and my advice is to watch for potential selling opportunities. Support level is at the level of 1.6150.

Fibonacci Pivot Points :

Resistance levels:

R1: 1.6370

R2: 1.6425

R3: 1.6510

Support levels:

S1: 1.6195

S2: 1.6140

S3: 1.6053

Trading recommendations: Be careful when buying at this stage. Selling positions are preferable.

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