Recently, EUR/NZD has been moving upwards. The price tested the level of 1.5000 in a high volume. Using the market profile, I found yesterday’s point of control at 1.4795 on the 30M time frame. The price is trading above the 21SMA, which is a sign of strength. Besides, there is volume absorption in the background, which is another sign of strength. My advice is to watch for buying opportunities on the dips. The upward target is set at the price of 1.5090.
Fibonacci Pivot Points:
Resistance levels
R1: 1.4820
R2: 1.4840
R3: 1.4880
Support levels:
S1: 1.4740
S2: 1.4720
S3: 1.4680
Trading recommendations for today: watch for buying opportunities.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Recently, EUR/NZD has been moving upwards. The price tested the level of 1.5000 in a high volume. Using the market profile, I found yesterday’s point of control at 1.4795 on the 30M time frame. The price is trading above the 21SMA, which is a sign of strength. Besides, there is volume absorption in the background, which is another sign of strength. My advice is to watch for buying opportunities on the dips. The upward target is set at the price of 1.5090.
Fibonacci Pivot Points:
Resistance levels
R1: 1.4820
R2: 1.4840
R3: 1.4880
Support levels:
S1: 1.4740
S2: 1.4720
S3: 1.4680
Trading recommendations for today: watch for buying opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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