Recently, EUR/NZD has been moving downwards.As I expected, the price tested the level of 1.5260 in a high volume. My downward target at the price of 1.5310 has been met. Using the market profile analysis, I found today's point of control at the price of 1.5330. Anyway, I still expect lower price on EUR/NZD since the supply is in a high volume and the trend is bearish. Watch for selling opportunities on the pullbacks. Take profit level is set at the price of 1.5180.
Fibonacci Pivot Points:
Resistance levels
R1: 1.5475
R2: 1.6500
R3: 1.5340
Support levels:
S1: 1.5390
S2: 1.5370
S3: 1.5330
Trading recommendations for today: Watch for selling opportunities on the pullbacks.
The material has been provided by InstaForex Company - www.instaforex.com