Recently, EUR/NZD has been moving downward. The price tested the level of 1.5232 in an average volume. According to the 30M time frame and using the market profile, I found a point of control levels at the price of 1.5267. The price broke upward trend channel and buying EUR/NZD at this stage looks risky. Watch for potential selling opportuntiies on the pullbacks. Take profit level is set at the price of 1.5080.
Fibonacci Pivot Points:
Resistance levels
R1: 1.5375
R2: 1.5390
R3: 1.5410
Support levels:
S1: 1.5330
S2: 1.5315
S3: 1.5295
Trading recommendations for today: Buying EUR/NZD at this stage looks risky. Watch for selling opportunities
The material has been provided by InstaForex Company - www.instaforex.com