Recently, EUR/NZD has been moving sideways at the price of 1.5050. Using the market profile, I found weakness and rejection from a strong point of control at the price of 1.5060 on the 30M time frame. The price is also trading below the 21SMA, which is a sign that sellers are in control. Watch for potential selling opportunities. The first downward taget is set at the price of 1.5020
Fibonacci Pivot Points:
Resistance levels
R1: 1.5135
R2: 1.5175
R3: 1.5235
Support levels:
S1: 1.5015
S2: 1.4975
S3: 1.4915
Trading recommendations for today: Watch for potential selling opportunities.
The material has been provided by InstaForex Company - www.instaforex.com