Monday , 23 October 2017

Home » RESOURCES » FOREX » EUR/NZD analysis for December 16, 2016

EUR/NZD analysis for December 16, 2016

analytics58540f392cc07.png

Recently, EUR/NZD has been moving upwards. The price tested the level of 1.5000 in a high volume. Using the market profile, I found yesterday’s point of control at 1.4795 on the 30M time frame. The price is trading above the 21SMA, which is a sign of strength. Besides, there is volume absorption in the background, which is another sign of strength. My advice is to watch for buying opportunities on the dips. The upward target is set at the price of 1.5090.

Fibonacci Pivot Points:

Resistance levels

R1: 1.4820

R2: 1.4840

R3: 1.4880

Support levels:

S1: 1.4740

S2: 1.4720

S3: 1.4680

Trading recommendations for today: watch for buying opportunities.

The material has been provided by InstaForex Company – www.instaforex.com

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

EUR/NZD analysis for December 16, 2016 Reviewed by on . Recently, EUR/NZD has been moving upwards. The price tested the level of 1.5000 in a high volume. Using the market profile, I found yesterday's point of control Recently, EUR/NZD has been moving upwards. The price tested the level of 1.5000 in a high volume. Using the market profile, I found yesterday's point of control Rating:
scroll to top