Recently, EUR/NZD has been moving downward. The price tested the level of 1.5340 in an average volume. According to the 30M time frame and using the market profile, I found a point of control levels at the price of 1.5345 and 1.5295. The price broke upward trend channel but the EUR/NZD pair is still in the upward trend and there are points on control levels in the background. Be careful when selling at this stage and watch for buying opportunities. Take profit level is set at the price of 1.5500.
Fibonacci Pivot Points:
Resistance levels
R1: 1.5465
R2: 1.5505
R3: 1.5570
Support levels:
S1: 1.5340
S2: 1.5300
S3: 1.5240
Trading recommendations for today: Selling EUR/NZD at this stage looks risky. Watch for buying opportunitiesThe material has been provided by InstaForex Company - www.instaforex.com