Recently, EUR/NZD has been moving upwards. Like I expected, the price tested the level of 1.5546 in a high volume. EUR/NZD reached my third target at 1.5500. Anyway, on the 30M time frame, I found neutral profile today and sideways market, using market profile. In the background there is a broken upward trendline, which is sign that EUR/NZD may start downward correction. Be careful when buying EUR/NZD at this stage and watch for selling opportunities. Downward targets are set at the price of 1.5440 and 1.5380.
Fibonacci Pivot Points:
Resistance levels
R1: 1.5535
R2: 1.5595
R3: 1.5687
Support levels:
S1: 1.5350
S2: 1.5290
S3: 1.5200
Trading recommendations for today: buying EUR/NZD at this stage looks risky. Watch for selling opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
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