Recently, EUR/NZD has been moving sideways at the price of 1.5340. According to the 4H time frame, I found strong selling pressure and a downward trend. Today we are on alert to US non-farm employment change, which will bring strong liquidity on the market. Since I found a down fractal according to the 4H time frame at the price of 1.5310. My advice will be to place pending order (sell stop) at the price of 1.5310 with stop loss at 1.5416. Targets are set at the price of 1.5225 and 1.5115.
Fibonacci Pivot Points:
Resistance levels
R1: 1.5405
R2: 1.5430
R3: 1.5465
Support levels:
S1: 1.5330
S2: 1.5305
S3: 1.5270
Trading recommendations for today: Watch for selling opportunities.
The material has been provided by InstaForex Company - www.instaforex.com