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EUR/NZD update

EUR/NZD is sitting on an area of Support and Resistance. Will it break though support or continue the downward trend?
Price is below the cloud
Tenkan Sen is flat
Kijun Sen is flat
Chikou Span is below the cloud
Span A is flat
Span B is flat
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EUR/NZD-Kiwi strengthens on Christmas Eve!

Charts: 4Hours, 1 Day.
Indicators: Fibonacci Fan Lines,Fibonacci Retracements,Support & Resistance Levels , MACD, EMA 200,100,50.
Current Level :1.6705

EUR/NZD is definatly set for a bearish retracement from current bullish trend. The pair is currently moving within fan lines and fibonacci retracements retesting important price levels ,support & resistances.Next move that i expect is a run until (1.64) price level followed by a bullish run, that in the second part of January.
I expect for
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geula4x avatar
geula4x 2013年12月26日

+1 Liked: Nice analysis. Thanks for sharing! Happy trading :-)

Metal_Mind avatar
Metal_Mind 2014年01月28日

Update 1: The current price level is 1.6532 which is more than 270 pips bellow the target. The current setup look promising and the pair may see a bullish rise in the days to come.

Metal_Mind avatar
Metal_Mind 2014年02月02日

UPDATE 2: Well we seem to have an improvement on this pair . Friday closing price was 1.6668 which reduced the deviation to 146 pips currently. The outlook is pretty good. The current trend looks exactly as draw in my chart. Quality is exquisit. Hope just the euro will be strong enough to hit my target.

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