EUR/NZD analysis for November 24, 2016

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Recently, EUR/NZD has been moving upwards. The price tested the level of 1.5107 in a high volume. Using the market profile on 30M time frame, I found that price is trying to visit the level of 1.5127 (a strong point of control in the background). The price is trading above 21SMA and above the previous swing highs. My advice is to watch for buying opportunities. The upward target is set at the price of 1.5127-1.5150.

Fibonacci Pivot Points:

Resistance levels

R1: 1.5070

R2: 1.5085

R3: 1.5105

Support levels:

S1: 1.5030

S2: 1.5015

S3: 1.4995

Trading recommendations for today: Watch for buying opportunities on the dips.

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

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