Recently, EUR/NZD has been moving sideways at the price of 1.5280. On 30M time frame and using the market profile, I found a neutral profile but with weakness in the background. I placed Fibonacci expansion to find potential downward target points. I got Fibonacci expansion 100% at the price of 1.5240 and Fibonacci expansion 161.8% at the price of 1.5185. Watch for selling opportunities on the pullbacks.
Fibonacci Pivot Points:
Resistance levels
R1: 1.5340
R2: 1.5370
R3: 1.5424
Support levels:
S1: 1.5235
S2: 1.5200
S3: 1.5150
Trading recommendations for today: Watch for potential selling opportunities on the pullbacks.
The material has been provided by InstaForex Company – www.instaforex.com
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