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27.10.201614:49 Forex Analysis & Reviews: EUR/NZD analysis for October 27, 2016

Long-term review

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Recently, EUR/NZD has been moving upwards. The price tested the level of 1.5305 in a high volume. Upward target from yesterday at the price of 1.5270 has been met. On 30M time frame and using market profile, I found breakout of upward extremes, which is sign of strength. Momentum is on bullish side. Watch for buying opportunities on the dips. Targets are set at the price of 1.5330 and 1.25390. There is also successful rejection of previous swing high area at 1.5290, which now became a strong support.

Fibonacci Pivot Points:

Resistance levels

R1: 1.5265

R2: 1.5290

R3: 1.5330

Support levels:

S1: 1.5185

S2: 1.5160

S3: 1.5115

Trading recommendations for today: Watch for potential buying opportunities.

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