EUR/NZD analysis for November 29, 2016
November 29, 2016 11:20 amVideo
Latest News
- Key events on May 3: fundamental analysis for beginners May 3, 2024
- Trading plan for GBP/USD on May 3. Simple tips for beginners May 3, 2024
- Trading plan for EUR/USD on May 3. Simple tips for beginners May 3, 2024
- Forecast for EUR/USD on May 3, 2024 May 3, 2024
- Forecast for GBP/USD on May 3, 2024 May 3, 2024
- Forecast for USD/JPY on May 3, 2024 May 3, 2024
- The euro did not understand the Fed’s signals May 3, 2024
- Analysis of GBP/USD pair on May 2nd. The final chord for the dollar May 2, 2024
- Analysis of EUR/USD pair on May 2nd. The market calmly responded to the FOMC meeting May 2, 2024
- Technical Analysis – GBPJPY returns to pre-intervention levels May 2, 2024
- JPY terrifies traders May 2, 2024
- Fed makes tough decision May 2, 2024
- USD/JPY: Simple trading tips for novice traders on May 2nd (US session) May 2, 2024
- GBP/USD: Simple trading tips for novice traders on May 2nd (US session) May 2, 2024
- EUR/USD: Simple trading tips for novice traders on May 2nd (US session) May 2, 2024
- GBP/USD: trading plan for the US session on May 2nd (analysis of morning deals). The pound was pushed below 1.2521 May 2, 2024
- EUR/USD: trading plan for the US session on May 2nd (analysis of morning deals). Euro bought around 1.0700 May 2, 2024
- EUR/USD. May 2nd. US statistics disappoint once again May 2, 2024
- Technical Analysis – EURUSD capped by 20-day SMA as rebound falters May 2, 2024
- Forex forecast 05/02/2024: EUR/USD, USD/JPY and Gold from Sebastian Seliga May 2, 2024
Recently, EUR/NZD has been moving downwards. As I expected, the price tested the level of 1.4929 in a high volume. Using the market profile on the M30 time frame, I found that price went from balance to imbalance. Besides, the price broke the swing low from yesetrday, which is a sign of weakness. Watch for selling opportunities on the pullbacks. I placed Fibonacci expansion to find potential downward target and got the expansion 100% at the price of 1.4875 and Fibonacci expansion 161.8% at the price of 1.4790.
Fibonacci Pivot Points:
Resistance levels
R1: 1.5070
R2: 1.5100
R3: 1.5150
Support levels:
S1: 1.4965
S2: 1.4935
S3: 1.4882
Trading recommendations for today: watch for a potential downward movement.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: