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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 21, 2016

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Recently, EUR/NZD has been moving sideways at the price of 1.5190. On the 30M time frame and using market profile, I found rejection from the point of control at the price of 1.5265. There is also a fake breakout of the downward trendline, which is a sign that selling pressure is strong. The intraday trend is downward. Watch for selling opportunities. First downward take profit is set at the 1.5080 level.

Fibonacci Pivot Points:

Resistance levels

R1: 1.5300

R2: 1.5330

R3: 1.5375

Support levels:

S1: 1.5200

S2: 1.5170

S3: 1.5125

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