Recently, EUR/NZD has been moving sideways at the price of 1.5435. I found a broken downward trendline in the background, which is a sign that buyers came on the market and that selling EUR/NZD at this stage looks risky. I found intraday upward trendline which the price is holding successfully. My advice is to watch for buying opportunties on the dips. Upward targets are set at 1.5500 and 1.5540.
Fibonacci Pivot Points:
Resistance levels
R1: 1.5470
R2: 1.5510
R3: 1.5570
Support levels:
S1: 1.5355
S2: 1.5320
S3: 1.5260
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 Source: Instaforex.com
Recently, EUR/NZD has been moving sideways at the price of 1.5435. I found a broken downward trendline in the background, which is a sign that buyers came on the market and that selling EUR/NZD at this stage looks risky. I found intraday upward trendline which the price is holding successfully. My advice is to watch for buying opportunties on the dips. Upward targets are set at 1.5500 and 1.5540.
Fibonacci Pivot Points:
Resistance levels
R1: 1.5470
R2: 1.5510
R3: 1.5570
Support levels:
S1: 1.5355
S2: 1.5320
S3: 1.5260
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
Source: Instaforex.com
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