Recently, EUR/NZD has been moving sideways downwards. As I expected, the price tested the level of 1.5050 in an average volume. Price met my yesterday’s target at 1.5080. Using the market profile in the 15M time frame, I found today’s point of control at the price of 1.5085. The price is trading above 21SMA, which is a sign of strength. Watch for buying opportuntiies on the dips. The upward target is set at the price of 1.5190.
Fibonacci Pivot Points:
Resistance levels
R1: 1.5175
R2: 1.5200
R3: 1.5250
Support levels:
S1: 1.5085
S2: 1.5040
S3: 1.5012
Trading recommendations for today: Watch for potential buying opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
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