Dmitriy Chernovolov, Technical Analyst who has been actively following the FX markets for the last 11 years. He uses a systematic trend following approach combined with a proven money management system. Dima prefers to combine multiple technical analysis tools (e.g. Fibonacci retracements, trendlines, indicator divergences, Japanese candlesticks, Elliott Waves as well as horizontal support and resistance levels on different time-frame charts) to identify high probability synergetic trade setups with a high reward/risk ratio.

EUR/NZD approaching support level 1.5220

  • EUR/NZD approaching support level 1.5220
  • Next sell target - 1.5100

EUR/NZD has been falling sharply in the last few trading sessions – following the earlier breakout of the support level 1.5400 (which was set as the sell target in our previous forecast for this currency pair). The breakout of the support level 1.5400 accelerated the active impulse wave 3 – which belongs to the intermediate impulse wave (3) from July (which started when the pair reversed down from the major pivotal resistance level 1.5850, former powerful support from December).

EUR/NZD is approaching the support level 1.5220 (low of impulse wave 1). If the price breaks below 1.5220 - the pair can then fall to the next sell target at 1.5100 (low of impulse (1)).

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