Recently, EUR/NZD has been moving sideways at the price of 1.5000. My first take profit from yesterday's analysis has been met at 1.5060. According to the 30M time frame and using the market profile, I found yesterday's point of control at the price of 1.4995. My advice is to watch for selling opportunities on the pullbacks. I created a downward channel and the price respecting supply trendline successfully, which is a clear sign of weakness. A downward target is set at the price of 1.4960 (Fibonacci expansion 161.8%).
Fibonacci Pivot Points:
Resistance levels
R1: 1.5090
R2: 1.5120
R3: 1.5160
Support levels:
S1: 1.5005
S2: 1.4980
S3: 1.4940
Trading recommendations for today: Watch for selling opportunities.
The material has been provided by InstaForex Company - www.instaforex.com