Recently, EUR/NZD has been upwards. As I expected, the price tested the level of 1.4947. Using the Ichimoku, I found potential upward continuation in EUR/NZD on the 15M time frame. The price is trading above Kijun and Tenkan sen, which is a sign that there is strength at the moment. I have placed Fibonacci expansion to find potential upward targets. I found Fibonacci expansion 61.8% at the price of 1.4985 and Fibonacci expansion 100% at the price of 1.5050. Watch for buying opportunities.
Fibonacci Pivot Points:
Resistance levels
R1: 1.4940
R2: 1.4980
R3: 1.5045
Support levels:
S1: 1.4815
S2: 1.4775
S3: 1.4710
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
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