17.11.201612:09 Forex Analysis & Reviews: EUR/NZD analysis for November 17, 2016

Long-term review

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Recently, EUR/NZD has been moving sideways downwards. As I expected, the price tested the level of 1.5050 in an average volume. Price met my yesterday's target at 1.5080. Using the market profile in the 15M time frame, I found today's point of control at the price of 1.5085. The price is trading above 21SMA, which is a sign of strength. Watch for buying opportuntiies on the dips. The upward target is set at the price of 1.5190.

Fibonacci Pivot Points:

Resistance levels

R1: 1.5175

R2: 1.5200

R3: 1.5250

Support levels:

S1: 1.5085

S2: 1.5040

S3: 1.5012

Trading recommendations for today: Watch for potential buying opportunities.

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