Recently, EUR/NZD has been moving downwards. As I expected, the price tested the level of 1.5115 in a high volume. On 15M time frame and using the market profile, I found potential bottoming. The price found the low at 1.5116 and demand came in on the market. I found a strong point of control at the price of 1.5215. Watch for potential buying opportunities with a target around the price of 1.5215. The short-term trend is downward but we may see potential bullish correction. The breakout of the 1.5115 may confirm a further downward continuation.
Fibonacci Pivot Points: Resistance levels
R1: 1.5350
R2: 1.5390
R3: 1.5480
Support levels:
S1: 1.5180
S2: 1.5130
S3: 1.5045
Trading recommendations for today: Watch for potential buying opportunities.
The material has been provided by InstaForex Company - www.instaforex.com