Recently, EUR/NZD has been moving downwards. As I expected, the price tested the level of 1.5318 in a high volume. The price reached our take profit levels from yesterday at 1.5450 and 1.5385. According to the 30M time frame, I found responsive buyers at the price of 1.5315. We may see potential upward correction. I placed Fibonacci retracement and I got Fibonacci retracement 38.2% at the price of 1.5425. Anyway, the trend is downward and once the upward correction ends, EUR/NZD may resume downward trend.
Fibonacci Pivot Points:
Resistance levels:
R1: 1.5590
R2: 1.5625
R3: 1.5685
Support levels:
S1: 1.5480
S2: 1.5445
S3: 1.5390
Trading recommendations for today: Reaction from buyers at the low, selling looks risky at this tage. Watch for potential buying opportunities.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Recently, EUR/NZD has been moving downwards. As I expected, the price tested the level of 1.5318 in a high volume. The price reached our take profit levels from yesterday at 1.5450 and 1.5385. According to the 30M time frame, I found responsive buyers at the price of 1.5315. We may see potential upward correction. I placed Fibonacci retracement and I got Fibonacci retracement 38.2% at the price of 1.5425. Anyway, the trend is downward and once the upward correction ends, EUR/NZD may resume downward trend.
Fibonacci Pivot Points:
Resistance levels:
R1: 1.5590
R2: 1.5625
R3: 1.5685
Support levels:
S1: 1.5480
S2: 1.5445
S3: 1.5390
Trading recommendations for today: Reaction from buyers at the low, selling looks risky at this tage. Watch for potential buying opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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