EUR/NZD Analysis for April 04, 2016

EUR/NZD Analysis for April 04, 2016

4 April 2016, 15:40
Roberto Jacobs
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EUR/NZD Analysis for April 04, 2016


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Recently, EUR/NZD has been moving upwards. The price tested the level of 1.6645 in a high volume. EUR/NZD is trading in a defined upward trend channel. Watch for buying opportunities on dips inside the channel. First, the take profit level is set at the price of 1.6645. I found absorption of selling climax in the background, which is a sign that selling EUR/NZD looks very risky.

Fibonacci Pivot Points:

Resistance levels:

R1: 1.6610

R2: 1.6665

R3: 1.6770

Support levels:

S1: 1.6420

S2: 1.6360

S3: 1.6265

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


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

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