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 24, 2015

EURNZDDaily.png24.png

EURNZDH4.png24.png

Overview:

Recently, EUR/NZD has been moving sideways around the price of 1.6070. We can observe low volatily due to bank holidays.In the daily time frame, I found a weak supply bar. In the H4 time frame, I found a strong head-and-shoulders confirmed formation (a broken neckline). The price again broke the 200 SMA. Be careful when buying EUR/NZD at this stage since lower prices are expected. I have placed Fibonacci expansion to find potential support levels. I got Fibonacci expansion 61.8% at the level of 1.6070 (broken), Fibonacci expansion 100% is at the level of 1.5840, and Fibonacci expansion 161.8% is seen at the level of 1.5470.

Fibonacci Pivot Points:

Resistance levels:

R1: 1.6120

R2: 1.6155

R3: 1.6210

Support levels:

S1: 1.6010

S2: 1.5980

S3: 1.5925

Trading recommendations : Buying EUR/NZD looks very risky at this stage since the price confirmed a head-and-shoulders formation. Watch for potential selling opportunities.

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