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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 November 10, 2016

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Recently, EUR/NZD has been moving sideways at the price of 1.5125. Using the market profile on the 30M time frame, I found strength on intraday prospective. The price is trading above a strong point of control and above 21SMA. Watch for buying opportunities on the pullbacks. I placed Fibonacci expansion to find potential upward targets. I got Fibonacci expansion 100% at the price of 1.5185 and Fibonacci expansion 161.8% at the price of 1.5340.

Fibonacci Pivot Points:

Resistance levels

R1: 1.5135

R2: 1.5150

R3: 1.5170

Support levels:

S1: 1.5090

S2: 1.5080

S3: 1.5060

Trading recommendations for today: Watch for potential buying opportunities.

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