Recently, EUR/NZD has been moving sideways at the price of 1.5150. My analysis from yesterday is still valid. Using the market profile on the 30M time frame, I found strength in terms of the intraday outlook. 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: 1.5140
R2: 1.5190
R3: 1.5270
Support levels:
S1: 1.4980
S2: 1.4935
S3: 1.4850
Trading recommendations for today: Watch for potential buying opportunities.
The material has been provided by InstaForex Company - www.instaforex.com