EUR/NZD analysis for December 16, 2016

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Recently, EUR/NZD has been moving upwards. The price tested the level of 1.5000 in a high volume. Using the market profile, I found yesterday's point of control at 1.4795 on the 30M time frame. The price is trading above the 21SMA, which is a sign of strength. Besides, there is volume absorption in the background, which is another sign of strength. My advice is to watch for buying opportunities on the dips. The upward target is set at the price of 1.5090.

Fibonacci Pivot Points:

Resistance levels

R1: 1.4820

R2: 1.4840

R3: 1.4880

Support levels:

S1: 1.4740

S2: 1.4720

S3: 1.4680

Trading recommendations for today: watch for buying opportunities.

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

Gold analysis for December 16, 2016

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Recently, gold has been trading sideways at the price of $1,130.80. Using the market profile, I found today's point of control at the price of $1,133.30 on the 30M time frame. The price is trading below 21SMA, which is a sign of weakness. Watch for selling opportunities.The short-term trend is bearish. The downward target is set at the price of $1,122.95.

Resistance levels:

R1: 1,139.00

R2: 1,143.65

R3: 1,151.10

Support levels:

S1: 1,124.25

S2: 1,119.70

S3: 1,112.80

Trading recommendations for today: Watch for selling opportunities on pullbacks.

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

Daily analysis of Gold for December 16, 2016

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Overview

Gold has been trading with an upward bias since morning to move away from $1,124.88, which supports our bullish trend expectations in the short term. The metal is heading for the upward targets like $1,154.75 and later $1,172.68. Therefore, we are waiting for more bullish bias today on the assumption of the price stability above $1,124.88. Breaking this level will bring in negativity that will push the price down to $1,047.61 as a next main station. The expected trading range for today is between 1120.00 support and 1154.75 resistance.

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

Daily analysis of Silver for December 16, 2016

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Overview

Silver price suffered sharp losses yesterday after breaking 16.56 level, which puts the price under negative pressure. So we expect silver to continue trading towards 15.49 level as a next main station. Please note that the EMA50 is forming negative pressure against the intraday trading. Therefore, the bearish bias is expected in the upcoming sessions unless the price manages to breach 16.56 and hold above it, noting that stochastic current positivity might push the price to extend gains and retest the mentioned level before turning back to decline. The expected trading range for today is between 16.30 support and 15.49 resistance.

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