EUR/NZD analysis for November 30, 2016

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Recently, EUR/NZD has been moving downwards. As I expected, the price tested the level of 1.4834 in a high volume. My downward target at the price of 1.4850 has been met. Using the market profile on the M30 time frame, I found that the price went from balance to imbalance. The price rejected from Fibonacci expansion 161.8% and changed behavor from bearish to bullish. Watch for potential buying opportunties. Targets are set at 1.4940 and 1.5000.

Fibonacci Pivot Points:

Resistance levels

R1: 1.4980

R2: 1.5000

R3: 1.5040

Support levels:

S1: 1.4900

S2: 1.4885

S3: 1.4845

Trading recommendations for today: watch for a potential upward movement.

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

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