EUR/NZD analysis for May 22, 2015

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Overview:

Recently, EUR/NZD has been trading downwards. The price tested the level of 1.5037 in an ultra high volume (selling climax). The short-term trend is neutral. According to the daily time frame, supply is in a volume below the average. According to the 30-minute time frame, I found strong trading range between the price of 1.5040 and 1.5260. Be careful when buying. I placed Fibonacci expansion to find potential bearish targets and got Fibonacci expansion 61.8% at the price of 1.5070 (on the test), Fibonacci expansion 100% at the price of 1.4940 and Fibonacci expansion 161.8% at the price of 1.4725. Anyway, I am waiting for a clear break and strong volume to confirm futher direction.

Fibonacci Pivot Points:

Resistance levels:

R1: 1.5245

R2: 1.5285

R3: 1.5345

Support levels:

S1: 1.5120

S2: 1.5080

S3: 1.5020

Trading recommendations: Be careful when buying EUR/NZD at this stage since we can observe strong bearish activity (volume). Anyway, we need to see strong breakout to confirm further direction.

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

Gold analysis for May 22, 2015

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Overview:

Gold has been trading sideways around the level of $1,205.00. The price supports cluster around the level of $1,203.00. We can observe supply in a high volume with strong price action in the daily time frame. The short-term trend is neutral. The daily resistance at the level of $1,224.00 held successfully. If the price breaks the level of $1,224.00 in a high volume and strong price action takes place, we may see possible testing at the level of $1,250.00 (Fibonacci expansion 100%). Anyway, I found strong trading range between the price of $1,214.00 and $1,201.00. I am waiting for a clear breakout with high volume to confirm direction.

Daily Fibonacci pivot points:

Resistance levels:

R1: 1,210.00

R2: 1,213.00

R3: 1,217.00

Support levels:

S1: 1,201.35

S2: 1,198.60

S3: 1,194.15

Trading recommendations: Be careful when buying gold below the price of $1,225.00.

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