11.11.201614:18 Forex Analysis & Reviews: EUR/NZD analysis for November 11, 2016

Long-term review

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Recently, EUR/NZD has been moving sideways at the price of 1.5150. My analysis from yesterday is still valid. Using the market profile on the 30M time frame, I found strength in terms of the intraday outlook. The price is trading above a strong point of control and above 21SMA. Watch for buying opportunities on the pullbacks. I placed Fibonacci expansion to find potential upward targets. I got Fibonacci expansion 100% at the price of 1.5185 and Fibonacci expansion 161.8% at the price of 1.5340.

Fibonacci Pivot Points:

Resistance levels

R1: 1.5140

R2: 1.5190

R3: 1.5270

Support levels:

S1: 1.4980

S2: 1.4935

S3: 1.4850

Trading recommendations for today: Watch for potential buying opportunities.

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