Recently, EUR/NZD has been moving upwards. The price tested the level of 1.5486 in a high volume. I found a broken downward trendline, which is a sign that buyers came on the market and that selling EUR/NZD at this stage looks risky. My advice is to watch for buying opportunties on the dips. Using the market profile analysis, I found the yesterday's point of control at the price of 1.5365. Upward targets are set at the price of 1.5500 and 1.5540.
Fibonacci Pivot Points:
Resistance levels
R1: 1.5445
R2: 1.5480
R3: 1.5535
Support levels:
S1: 1.5335
S2: 1.5300
S3: 1.5245
Trading recommendations for today: SellingEUR/NZD at this stage looks risky. Watch for buying opportunities.
The material has been provided by InstaForex Company - www.instaforex.com