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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 September 27, 2016

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Recently, EUR/NZD has been moving downwards. Like I expected, the price tested the level of 1.5335 in a high volume. EUR/NZD reached my second target at 1.5380. Anyway, on the M30 time frame, I found a supply trend line and lower swing highs, which is a sign that sellers are in control in the market. Be careful when buying EUR/NZD at this stage and watch for selling opportunities. The next downward target is set at the price of 1.5245.

Fibonacci Pivot Points:

Resistance levels

R1: 1.5528

R2: 1.5555

R3: 1.5590

Support levels:

S1: 1.5450

S2: 1.5425

S3: 1.5380

Trading recommendations for today: Buying EUR/NZD at this stage looks risky. Watch for selling opportunities.

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