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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 January 10, 2017

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Recently, EUR/NZD has been moving sideways at the price of 1.5120. According to the 30M time frame and using the market profile, I found yesterday's point of control at the price of 1.5120. There is potential double top formation and my advice is to be careful when buying EUR/NZD at this stage. Watch for potential selling opportunities. A potential downward target is set at the price of 1.5030.

Fibonacci Pivot Points:

Resistance levels

R1: 1.5125

R2: 1.5150

R3: 1.5195

Support levels:

S1: 1.5035

S2: 1.5008

S3: 1.4965

Trading recommendations for today: Friday's point of control on the test. Watch for selling opportunities.

The material has been provided by InstaForex Company - www.instaforex.com