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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 30, 2016


Recently, EUR/NZD has been moving upwards. The price tested the level of 1.6651 in a high volume. According to the 30M time frame, I found an upward trend and successful testing of supply in a low volume and narrow spread of the bar, which is a good sign of a further upward movement. Be careful when selling EUR/NZD at this stage and watch for buying opportunities. I have placed theFibonacci expansion to find potential upward targets. I found Fibonacci expansion 61.8% at the price of 1.6685 (the first target) and Fibonacci expansion 100% at the price of 1.6770 (the second upward target).

Fibonacci Pivot Points:

Resistance levels:

R1: 1.6618

R2: 1.6635

R3: 1.6665

Support levels:

S1: 1.6560

S2: 1.6545

S3: 1.6515

Trading recommendation for today: Watch for buying opportunities on the dips.

The material has been provided by InstaForex Company -