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 March 08, 2016

EURNZDDaily.png08.png

EURNZDH4.png08.png

Overview:

Recently, EUR/NZD has been moving upwards. The price tested the level of 1.6336. In the daily time frame, we can observe a neutral bar (indecision) in a volume below the average. In the daily time frame, I placed Fibonacci expansion levels to find a potential downward station. I got Fibonacci expansion 161.8% at the price of 1.5990 (downward target). There are a few technical reasons for this strong downward pressure: 1. Massive upthrust in an ultra-high volume bar in the background (supply overcame demand); 2. Another upthrust bar from the same zone; 3. Confirmed double-top formation. According to the H4 time frame, I found weak demand at the price of 1.6335. I am still expecting a downward price. Watch for potential selling opportunities on rallies. I found a solid selling zone around the price of 1.6300.

Fibonacci Pivot Points:

Resistance levels:

R1: 1.6245

R2: 1.6275

R3: 1.6330

Support levels:

S1: 1.6145

S2: 1.6115

S3: 1.6060

Trading recommendation for today: Watch for potential selling opportunities on rallies.

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