Source: Forex Analysis
Recently, EUR/NZD has been moving downwards. The price tested the level of 1.5062 in a high volume. Using the market profile, I found today’s point of control at 1.5125 on the 30M time frame. The intraday trend is bearish. Watch for potential selling opportunities on pullbacks. I placed Fibonacci expansion to find a potential downward target and I got Fibonacci expansion 100% at the price of 1.5060 (on the test) and Fibonacci expansion 161.8% at the price of 1.5015.
Fibonacci Pivot Points:
Trading recommendations for today: watch for selling opportunities.
The material has been provided by InstaForex Company – www.instaforex.com