Recently, EUR/NZD has been moving downwards. As I expected, the price tested the level of 1.5311 in a high volume. According to the 1H time frame, I found strong selling pressure and a downward trend. Today according to the 30M time frame, I found two down fractals. The first fractal is set at the price of 1.5317 (already filled) and second one is set at the price of 1.5311. My advice is to place a pending order (sell stop) at the price of 1.5310 with stop loss at 1.5411. The first downward target is set at the price of 1.5225 and the second target is seen at 1.5115.

Fibonacci Pivot Points:

Resistance levels

R1: 1.5425

R2: 1.5450

R3: 1.5490

Support levels:

S1: 1.5350

S2: 1.5325

S3: 1.5285

Trading recommendations for today: Watch for selling opportunities.

The material has been provided by InstaForex Company –

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