Recently, EUR/NZD has been moving upwards. The price tested the level of 1.5170 in a high volume. I added market profile to find potential resistance levels. I found the level of 1.5175-1.5190 like a solid resistance area. The intraday trend is upward but buying near the resistance level is not a good idea. The EUR/NZD pair may start downward correction. The downward target is set at the price of 1.5100.
Fibonacci Pivot Points:
Resistance levels
R1: 1.5165
R2: 1.5205
R3: 1.5270
Support levels:
S1: 1.5035
S2: 1.4995
S3: 1.4935
Trading recommendations for today: Buying EUR/NZD at this stage looks risky so watch for potential selling opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
The post EUR/NZD analysis for September 08, 2016 appeared first on forex-analytics.press.