empty
 
 
03.12.2015 12:58 PM
EUR/NZD analysis for December 03, 2015

This image is no longer relevant

This image is no longer relevant

Overview:

Recently, EUR/NZD has been moving downwards. As I had expected, the price tested the level of 1.5838 in a high volume. The short-term trend is still downward. The major 22-day trading range (redistribution) support at the level of 1.6150 was broken last week. Our strong trading range between the prices of 1.5875 and 1.5970 was finally broken. Resistance (changing in polarity) at the level of 1.5880 is on the test. The major profit target level is seen at 1.5740 (Major Fibonacci retracement 61.8%.).

According to the Wyckoff research I wrote major points:

SC - Selling climax

AR - Automatic rally

ST - Secondary test

UT - Up thrust

UTAD - Up thrust after distribution

LPSY - Last point of supply

SOW - Sign of weakness

Fibonacci Pivot Points :

Resistance levels:

R1: 1.6005

R2: 1.6036

R3: 1.6085

Support levels:

S1: 1.5905

S2: 1.5875

S3: 1.5824

Trading recommendations : Intraday selling opportunities are preferable. Try to sell on rallies. According to the daily time frame, the profit level is seen at 1.5740.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $3000 more!
    In September we raffle $3000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback