Recently, EUR/NZD has been moving downwards. As I expected, the price tested the level of 1.4834 in a high volume. My downward target at the price of 1.4850 has been met. Using the market profile on the M30 time frame, I found that the price went from balance to imbalance. The price rejected from Fibonacci expansion 161.8% and changed behavor from bearish to bullish. Watch for potential buying opportunties. Targets are set at 1.4940 and 1.5000.
Fibonacci Pivot Points:
Resistance levels
R1: 1.4980
R2: 1.5000
R3: 1.5040
Support levels:
S1: 1.4900
S2: 1.4885
S3: 1.4845
Trading recommendations for today: watch for a potential upward movement.
The material has been provided by InstaForex Company - www.instaforex.com