Recently, EUR/NZD has been moving downwards. The price tested the level of 1.4726 in a high volume. According to the 30M time frame and using the market profile. I found today’s point of control at the price of 1.4790. Sellers are in control on EUR/USD. Watch for selling opportunties. The price broke the yesterday’s low, which is sign of weakness. I placed Fibonacci expansion to find potential downward targets. I got Fibonacci epxansion 61.8% at the price of 1.4620 and Fibonacci expansion 100% at the price of 1.4500.
Fibonacci Pivot Points:
Resistance levels
R1: 1.5005
R2: 1.5080
R3: 1.5200
Support levels:
S1: 1.4760
S2: 1.4680
S3: 1.4560
Trading recommendations for today: Consider selling opportunities.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Recently, EUR/NZD has been moving downwards. The price tested the level of 1.4726 in a high volume. According to the 30M time frame and using the market profile. I found today’s point of control at the price of 1.4790. Sellers are in control on EUR/USD. Watch for selling opportunties. The price broke the yesterday’s low, which is sign of weakness. I placed Fibonacci expansion to find potential downward targets. I got Fibonacci epxansion 61.8% at the price of 1.4620 and Fibonacci expansion 100% at the price of 1.4500.
Fibonacci Pivot Points:
Resistance levels
R1: 1.5005
R2: 1.5080
R3: 1.5200
Support levels:
S1: 1.4760
S2: 1.4680
S3: 1.4560
Trading recommendations for today: Consider selling opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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