Recently, EUR/NZD has been moving sideways at the price of 1.5590. There is strong supply in an ultra high volume in the background. According to the 30M time frame, I found that price is in a trading range. I found a symmetrical triangle. Therefore, the EUR/NZD is in a downward trend, I would look only for potential selling opportunities if the price breaks symmetrical triangle support (1.5570). Buying looks risky, watch for selling opportunities if the price breaks a symmetrical triangle.
Fibonacci Pivot Points:
Resistance levels:
R1: 1.5770
R2: 1.5860
R3: 1.6015
Support levels:
S1: 1.5465
S2: 1.5370
S3: 1.5220
Trading recommendations for today: Watch for selling opportunities if the price breaks support from the symmetrical triangle.
The material has been provided by InstaForex Company - www.instaforex.com