Recently, EUR/NZD has been moving sideways at the price of 1.5125. Using the market profile on the 30M time frame, I found strength on intraday prospective. The price is trading above a strong point of control and above 21SMA. Watch for buying opportunities on the pullbacks. I placed Fibonacci expansion to find potential upward targets. I got Fibonacci expansion 100% at the price of 1.5185 and Fibonacci expansion 161.8% at the price of 1.5340.
Fibonacci Pivot Points:
Resistance levels
R1: 1.5135
R2: 1.5150
R3: 1.5170
Support levels:
S1: 1.5090
S2: 1.5080
S3: 1.5060
Trading recommendations for today: Watch for potential buying opportunities.
The material has been provided by InstaForex Company - www.instaforex.com