Recently, EUR/NZD has been moving sideways at the price of 1.5040. Using the market profile on the 30M time frame, I found weakness and strong buying climax in the background due to the election in the US. The price is also trading below the 21SMA, which is a sign that sellers are in control. Watch for potential selling opportunities. The first downward target is set at the price of 1.4880.
Fibonacci Pivot Points:
Resistance levels
R1: 1.5040
R2: 1.5085
R3: 1.5165
Support levels:
S1: 1.4885
S2: 1.4835
S3: 1.4755
Trading recommendations for today: Watch for potential selling opportunities.
The material has been provided by InstaForex Company - www.instaforex.comFrom www.instaforex.com https://www.instaforex.com/forex_analysis/84045/
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