Recently, EUR/NZD has been moving downwards. The price tested the level of 1.5478 in a high volume. According to the 30M time frame, I found bullish outside bar formation, which is sign that selling EUR/NZD at this stage looks risky. According to the 5M time frame, I found changing in trend dynamic from bearish to bullish. There is a climatic action in the background and successful absorption volume. Watch for buying opportunities.
Fibonacci Pivot Points:
Resistance levels:
R1: 1.5525
R2: 1.5555
R3: 1.5610
Support levels:
S1: 1.5420
S2: 1.5390
S3: 1.5340
Trading recommendations for today: Watch for buying opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
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