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 November 18, 2015

EURNZDDaily.png18.png

EURNZDM30.png18.png

Overview:

Recently, EUR/NZD has been moving sideways around the price of 1.6470. I am waiting for larger activity and stronger price action. The short-term trend is still neutral, but the intraday trend is upward. Be careful when selling EUR/NZD before a breakout of the key support level takes place. In the the daily time frame, we can see a weak supply bar in an average volume. A high-volume breakout at the level of 1.6590 will confirm further upward movements. I found a point of control from yesterday (high volume area) around the price of 1.6460-1.6500. I placed Fibonacci retracement to find potential resistance levels and got Fibonacci retracement 38.2% at the level of 1.6860, Fibonacci retracement 50% at the level of 1.7080 and Fibonacci retracement 61.8% at the level of 1.7295. According to the M30, I found supportive nature of volume and intraday upward behavior. So, be careful when selling at this stage because we may see potential recovery in the euro. Anyway, the strong support at 1.6150 may become the strong resistance once it gets broken.

Fibonacci Pivot Points :

Resistance levels:

R1: 1.6500

R2: 1.6520

R3: 1.6550

Support levels:

S1: 1.6440

S2: 1.6420

S3: 1.6390

Trading recommendations: Selling looks risky at this stage so watch for potential buying opportunities on an intraday basis. Selling opportunities are preferable only if the price breaks the level of 1.6150.

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