Recently, EUR/NZD has been moving upwards. The price tested the level of 1.5057 in a high volume. Using the market profile, I found today's point of control at 1.5011 on the 30M time frame. The price is trading above the 21SMA, which is a sign of strength. My advice is to watch for buying opportunities on dips. I placed Fibonacci expansion to find potential upward targets. I got Fibonacci expansion 100% at the price of 1.5075 and Fibonacci expansion 161.8% at the price of 1.5125.
Fibonacci Pivot Points:
Resistance levels
R1: 1.5045
R2: 1.5065
R3: 1.5100
Support levels:
S1: 1.4976
S2: 1.4950
S3: 1.4920
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/2hVT4C2
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