Recently, EUR/NZD has been moving upwards. As I expected, the price tested the level of 1.5565 in a high volume. The price broke our bullish flag formation and I am expecting testing of 1.5660 (Fibonacci expansion 100%). According to the 1H time frame, there is big strength in the background, which caused larger demand for EUR/NZD. There is also irregular ABC flat formation finished, which is a sign that we may see higher price. The trend is upward and selling looks very risky. Watch for buying opportunities on the dips.
Fibonacci Pivot Points:
Resistance levels:
R1: 1.5555
R2: 1.5585
R3: 1.5630
Support levels:
S1: 1.5450
S2: 1.5425
S3: 1.5375
Trading recommendations for today: Watch for buying opportunities.
The material has been provided by InstaForex Company - www.instaforex.comfrom www.instaforex.com http://ift.tt/2bhXEH4
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