From Investor to Scalper – series of studies created in cooperation with broker BDSwiss, in which we take a financial instrument and the analysis includes a detailed look at the value from the monthly chart and ending with 5/15 minutes.

On the monthly chart we see that although the market from the beginning of trading moves rather in a consolidation, we are able to draw a slight downward channel, which determines south direction.Źródło: pl.investing.com

Looking on weekly chart we see that due to ongoing since September 2015 declines market defeated in November an important support 1.5100, which now is re-testing the bottom (as resistance). If this level is permanently rejected, then we could expect declines to continue even in the vicinity of the historical lows and located there round level 1.4000.EURNZD Weekly

Even that due to the recent increases market was for a moment above the aforementioned level 1.5100 downtrend line wasn’t defeated and we can expect continuation of bearish movement.EURNZD Daily

On H4 chart we can see that the market for nearly two months is moving in consolidation. As a result of ongoing declines from last Friday today last week’s lows were defeated, and if demand in the near future does not negate this breakout, then we expect to continue to decline.EURNZD H4

Looking at M15 we notice that even if the price of EURNZD returns above the defeated today support we could expect bears response in the surrounding area between 38.2% – 50% Fibonacci adjustments of the last downward impulse.EURNZD M15Use analysis to invest with Broker BDSwiss, with whom at the time of the creation of the analysis  the spread on the EURNZD pair was 1.9 pips.

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