FX.co ★ EUR/NZD analysis for September 05, 2016

Recently, EUR/NZD has been moving sideways at the price of 1.5250. According to the 30M time frame, I found 2 fractals today. Up fractal at the price of 1.5262 and down fractal at the price of 1.5230. My advice is to place a pending order (buy stop) at the price of 1.5262 with stop loss at the price of 1.5215. The upward target is set at the price of 1.5305. You can also place a pending order (sell stop) at the price of 1.5230 and stop loss at 1.5262 and a target at 1.5155.

Fibonacci Pivot Points:

Resistance levels

R1: 1.5360

R2: 1.5390

R3: 1.5440

Support levels:

S1: 1.5250

S2: 1.5225

S3: 1.5170

Trading recommendations for today: Buy if the price reach 1.5262 and sell if the price reach the 1.5230.