Recently, EUR/NZD has been moving upwards. The price tested the level of 1.5131 in a high volume. Using the market profile on 30M time frame, I found strong trend day and selling looks very risky. I found successful test of supply and the pair is trading above 21SMA. Watch for buying opportunities on the dips. An upward target is set at the price of 1.5290 (Fibonacci expansion 261.8%).
Fibonacci Pivot Points:
Resistance levels
R1: 1.5025
R2: 1.5060
R3: 1.5120
Support levels:
S1: 1.4900
S2: 1.4865
S3: 1.4810
Trading recommendations for today: Watch for buying opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
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