Recently, EUR/NZD has been moving upwards. As I expected, the price tested the level of 1.5419 in a high volume. According to the 30M time frame and using the market profile, I found today point of control at the price of 1.5350 and Friday’s point of control at the price of 1.5295. The trend is upward. My advice is to watch for buying opportunities on the dips. The level of 1.5350 (point of control) looks like a decent price to establish buy position today. Take profit levels are set at the price of 1.5420 and 1.5470.
Fibonacci Pivot Points:
Resistance levels
R1: 1.5340
R2: 1.5374
R3: 1.5430
Support levels:
S1: 1.5235
S2: 1.5200
S3: 1.5145
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 upwards. As I expected, the price tested the level of 1.5419 in a high volume. According to the 30M time frame and using the market profile, I found today point of control at the price of 1.5350 and Friday’s point of control at the price of 1.5295. The trend is upward. My advice is to watch for buying opportunities on the dips. The level of 1.5350 (point of control) looks like a decent price to establish buy position today. Take profit levels are set at the price of 1.5420 and 1.5470.
Fibonacci Pivot Points:
Resistance levels
R1: 1.5340
R2: 1.5374
R3: 1.5430
Support levels:
S1: 1.5235
S2: 1.5200
S3: 1.5145
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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