Recently, EUR/NZD has been moving upwards. The price tested the level of 1.5350 in a high volume. On the 30M time frame and using market profile, I found strength in the Aisan and European sessions. The price broke a downward trendline and created an upward trendline, which is a sign that buyers are in control and that selling looks risky. Be careful when selling and watch for buying opportunities. Take profit level are set at the price of 1.5420 -1.5460. Anyway, trade safely in the run-up to ECB President Draghi speech today.
Fibonacci Pivot Points:
Resistance levels
R1: 1.5260
R2: 1.5290
R3: 1.5340
Support levels:
S1: 1.5170
S2: 1.5140
S3: 1.5090
Trading recommendations for today: selling EUR/NZD at this stage looks risky. Watch for buying opportunities.
The material has been provided by InstaForex Company - www.instaforex.com