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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.



Expert In



EUR/NZD analysis for May 20, 2016


Recently, EUR/NZD has been moving downwards. As I expected, the pair tested the level of 1.6531 in a high volume. According to the 4H time frame, I found a downward channel. The price broke the upward diagonal and I am expecting a downward continuation. Our Fibonacci expansion 100% at the price of 1.6530 held successfully. Anyway, the trend is downward and buying looks risky. If the price breaks the level of 1.6530 in a high volume, we may see potential testing of 1.6380.

Fibonacci Pivot Points:

Resistance levels:

R1: 1.6655

R2: 1.6675

R3: 1.6710

Support levels:

S1: 1.6585

S2: 1.6560

S3: 1.6530

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

The material has been provided by InstaForex Company -