Recently, EUR/NZD has been moving upwards. The price tested the level of 1.5126 in a high volume. According to the 30M time frame and using the market profile, I found yesterday’s point of control at the price of 1.5060. I found broken 3-day balance, which is a sign that the market is ready for higher price. My advice is to wait for potential buying opportunities on the dips. Targets are set at the price of 1.5165 and 1.5215. In case the pair can’t keep upward momentum, the price may test the level of 1.5000.
Fibonacci Pivot Points:
Resistance levels
R1: 1.5105
R2: 1.5125
R3: 1.5155
Support levels:
S1: 1.5040
S2: 1.5025
S3: 1.4995
Trading recommendations for today: Watch for buying opporutnities due to a breakout of a trading range in the background.
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 1.5126 in a high volume. According to the 30M time frame and using the market profile, I found yesterday’s point of control at the price of 1.5060. I found broken 3-day balance, which is a sign that the market is ready for higher price. My advice is to wait for potential buying opportunities on the dips. Targets are set at the price of 1.5165 and 1.5215. In case the pair can’t keep upward momentum, the price may test the level of 1.5000.
Fibonacci Pivot Points:
Resistance levels
R1: 1.5105
R2: 1.5125
R3: 1.5155
Support levels:
S1: 1.5040
S2: 1.5025
S3: 1.4995
Trading recommendations for today: Watch for buying opporutnities due to a breakout of a trading range in the background.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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