Heat from EUR, NZD and XAG

2 February, 2017

EUR/USD

The time has come to sell the Euro. The main scenario includes a pullback and testing the level 1.0764 with a further drop up towards the level 1.0659. Although, a drop may  keep extending even further.

NZD/USD

We were trying to sell the Kiwi, however, it didn’t turn out so well. The pullback from the broken ascending channel and the 3rd point of the downtrend along with bearish engulfing are too strong of signals to bring the price of New Zealand Dollar down.

XAG/USD

Silver is in a quite interesting situation. Broken horizontal level of 18.378 has crossed the 3rd point of the descending channel. In addition, the 50% Fibonacci level, which is extended along the last descending movement of the points 21.131 and 15.625, while crossing broken horizontal level. Sell Limit 18.387, Stop Loss 19.150, Take Profit 16.150.


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