View Single Post
  #33  
Old 01-09-2015, 22:23
InstaForex's Avatar
InstaForex InstaForex is offline
Level V Lasers Member
 
Join Date: Aug 2014
Posts: 2,332
Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Overview:
Recently, EUR/NZD has been moving upwards. The price tested the level of 1.7843. In the daily time frame, we can observe a demand bar in a volume below the average. The trend is neutral. Our Fibonacci expansion 61.8% at the level of 1.7325 held successfully. Anyway, we saw that supply came in according to the H1 time frame. Buying still looks risky, since we got strong weakness on the background. Watch only for selling opportunities after retracement. Support is seen around the level of 1.7275. We need to see a change in trend behavior from neutral to downward and then we can watch for selling opportunities.

Trading recommendations:
Watch only for selling opportunities after retracement




Reply With Quote