Recently, EUR/NZD has been moving sideways at the price of 1.5610. On the 30M time frame, I found that the price went back into a trading range and broke the recent swing highs (support levels), which is a sign that EUR/NZD may go lower. According to 30M time frame, the price is below 50SMA, which is a sign that sellers are in control of the market. My advice is to watch for selling opportunties. Take profit level is set at the price of 1.5520.
Fibonacci Pivot Points:
Resistance levels
R1: 1.5735
R2: 1.5775
R3: 1.5845
Support levels:
S1: 1.5600
S2: 1.5560
S3: 1.5495
Trading recommendations for today: Watch for selling opportunities on the pullbacks.
The material has been provided by InstaForex Company - www.instaforex.comFrom www.instaforex.com http://ift.tt/2erJZCF
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