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 09, 2014

EURNZDDaily09.png


EURNZDH409.png


Overview:


In our last analysis, EUR/NZD has been trading upwards. The price tested the level of 1.6154 in an average volume. Our Fibonacci expansion 100% at the price of 1.6145 is on the test. I have placed Fibonacci retracement to find potential resistance level and I got Fibonacci retracement 61.8% at the price of 1.6165. According to the 4H time frame, we can observe lack of demand around the price of 1.6150. So, be careful when buying and watch for potential selling opportunities. Any larger supply may confirm a further bearish phase. We got support level (swng high like support) at the price of 1.6075.


Daily Fibonacci pivot levels:


Resistance levels:


R1: 1.6104


R2: 1.6142


R3: 1.6202


Support levels:


S1: 1.5984


S2: 1.5946


S3: 1.5886


Trading recommendations: Be careful when buying EUR/NZD since the price is near our resistance level. Watch for potential selling opportunities in a short-term perspective.


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