Gold analysis for March 20, 2015

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Overview :


Since our last analysis, gold has been trading upwards. The price has tested the level of $1,184.04 in a very high volume. According to the 4H timeframe, we can observe that the price broke the lower channel which is a sign of bullish strength. Gold changed its trend's dynamic from bearish to bullish, so be careful when selling. I have placed Fibonacci retracement to find potenteial resistance levels and have got Fibonacci retracement 61.8% at the price of $1,191.00. Watch for potential buying opportunities on the dips.


Daily Fibonacci pivot points:


Resistance levels :


R1: 1,175.23


R2: 1,179.57


R3: 1,186.50


Support levels :


S1: 1,161.17


S2: 1,156.83


S3: 1,149.80


Trading recommendations: Watch for potential selling opportunities after a retracement.




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

EUR/NZD analysis for March 20, 2015

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Overview:


In our last analysis EUR/NZD was trading downwards. As we expected, the price has tested the level of 1.4306 in a high volume. The mid-term trends are bearish and my advice is to watch for potential selling opportunities after corrections. I found a big weakness around the price of 1.4630 (buying climax). Major support is at the price of 1.4360. According to the daily timeframe, we can observe supply in a high volume in the background.


Daily Fibonacci pivot levels:


Resistance levels:


R1: 1.4499


R2: 1.4544


R3: 1.4617


Support levels:


S1: 1.4352


S2: 1.4307


S3: 1.4233


Trading recommendations: Be careful when buying at this stage and watch for potential selling opportunities after a retracement (after bullish correction).




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