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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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EUR/NZD analysis for September 09, 2016

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Recently, EUR/NZD has been moving upwards. The price tested the level of 1.5309 in a high volume. According to the 30M time frame and using the market profile, I found strong potential upward target level at the price of 1.5360. The intraday trend is very bullish and be very careful when selling. My advice is to watch for buying opportunities on the dips.

Fibonacci Pivot Points:

Resistance levels

R1: 1.5240

R2: 1.5285

R3: 1.5360

Support levels:

S1: 1.5100

S2: 1.5050

S3: 1.4985

Trading recommendations for today: Selling EUR/NZD at this stage looks risky. Watch for buying opportunities.

The material has been provided by InstaForex Company - www.instaforex.com