Recently, EUR/NZD has been moving downwards. As I expected, the price tested the level of 1.4994 in an high volume. My first take profit from yesterday's analysis has been met at 1.5060. According to the 30M time frame, the price is trading below yesterday's low at 1.5050. My advice is to watch for selling opportunities on the pullbacks. I placed Fibonacci expansion to find potential downward targets. Downward target is set at the price of 1.4960 (Fibonacci expansion 161.8%).
Fibonacci Pivot Points:
Resistance levels
R1: 1.5245
R2: 1.5295
R3: 1.5380
Support levels:
S1: 1.5075
S2: 1.5020
S3: 1.4940
Trading recommendations for today: Watch for selling opportunities.
The material has been provided by InstaForex Company - www.instaforex.comFrom www.instaforex.com http://ift.tt/2hMPI8o
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