Recently, EUR/NZD has been moving downwards. The price tested the level of 1.5109 in a high volume. According to the 30M time frame, I found downward pressure on the market and a breakout of upward trend line in the background. Supply trend line is held successfully, which is a sign that buying looks risky. Watch for selling opportunities on the pullbacks. The first take profit level is set at the price of 1.5115.
Fibonacci Pivot Points:
Resistance levels:
R1: 1.5330
R2: 1.5375
R3: 1.5450
Support levels:
S1: 1.5170
S2: 1.5125
S3: 1.5050
Trading recommendations for today: Be careful when buying and watch for selling opportunities.
The material has been provided by InstaForex Company - www.instaforex.com