Recently, EUR/NZD has been moving downwards. The price tested the level of 1.5190 in a high volume. According to the 30M time frame, I found lower value areas in past days and today price is trading below yesterday's value area, which is a sign that sellers are in control. I placed Fibonacci expansion to find a potential downward target for today. I got Fibonacci expansion 161.8% at the price of 1.5110. Watch for selling opportunities on the pullbacks.
Fibonacci Pivot Points:
Resistance levels:
R1: 1.5500
R2: 1.5570
R3: 1.5685
Support levels:
S1: 1.5275
S2: 1.5200
S3: 1.5090
Trading recommendations for today: Sellers are in control on the market. Watch for selling opportunities.