Recently, EUR/NZD is trading sideways around 1.5750. The short-term trend is neutral. According to the daily time frame, we can observe a neutral bar (indecision) in a volume above the average. According to the M15 time frame, I found trading range between the levels of 1.5830 and 1.5685. I am waiting for a clear breakout in a high volume to confirm further direction. Today, we are facing a very low volatility (volume below the average).
Fibonacci Pivot Points :
Resistance levels:
R1: 1.5820
R2: 1.5860
R3: 1.5920
Support levels:
S1: 1.5700
S2: 1.5665
S3: 1.5605
Trading recommendations: I found trading range between the levels of 1.5830 and 1.5685. Watch for a clear breakout and trade after retracement.
The material has been provided by InstaForex Company – www.instaforex.com
Overview:
Recently, EUR/NZD is trading sideways around 1.5750. The short-term trend is neutral. According to the daily time frame, we can observe a neutral bar (indecision) in a volume above the average. According to the M15 time frame, I found trading range between the levels of 1.5830 and 1.5685. I am waiting for a clear breakout in a high volume to confirm further direction. Today, we are facing a very low volatility (volume below the average).
Fibonacci Pivot Points :
Resistance levels:
R1: 1.5820
R2: 1.5860
R3: 1.5920
Support levels:
S1: 1.5700
S2: 1.5665
S3: 1.5605
Trading recommendations: I found trading range between the levels of 1.5830 and 1.5685. Watch for a clear breakout and trade after retracement.
The material has been provided by InstaForex Company – www.instaforex.com
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