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 January 27, 2014

EURNZDDaily27.png

EURNZDH427.png


Overview:


In our last analysis EUR/NZD was trading upwards. The price tested the level of 1.5267 in a a volume below the average. I have placed Fibonacci retracement to find potential resistance levels and got Fibonacci retracement 61.8% at the price of 1.5225 (currently on the test). According to the 4H time frame, we can observe lack of supply at the price of 1.4887 which caused price to start with bullish movement. Be careful when buying EUR/NZD and watch for potential selling opportunities after retracement. Any larger supply in a high volume may confirm further bearish phase. Anyway, if we see larger demand on the market, we may expect testing the level of 1.5430.


Daily Fibonacci pivot levels:


Resistance levels:


R1: 1.5219


R2: 1.5283


R3: 1.5386


Support levels:


S1: 1.5013


S2: 1.4950


S3: 1.4846


Trading recommendations: Be careful when buying the EUR/NZD pair since our Fibonacci retracement 61.8% is on the test.


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